Senior Product Manager - Hybrid

Colonial Group; Lincolnshire (IL); On-site; USD 107,000 - 130,000; Full time

Job summary

Klein Tools Inc in Lincolnshire, IL, seeks a Senior Product Manager to develop and execute product strategy plans, including 3-year lifecycle plans that fit the company's selling tactics, distribution channels, and financial goals, while delivering timely market data and insights.

You will lead cross-functional teams, maintain a multi-year product portfolio, drive launches, promotions, and end-of-life decisions, and mentor junior PMs to build a high-performance product organization.

Qualifications

• Bachelor's degree in business or related field and 5 years of product management experience.
• MBA or advanced degree preferred.
• Experience in consumer goods product management.
• Strong communication skills, verbal and written.
• Ability to understand financial calculations and market research.
• Experience with budgeting, forecasts, and business plans.

Responsibilities

• Develop short- and long-term product plans to deliver growth and profit.
• Prepare annual plans for major product lines and achieve them.
• Provide growth recommendations based on market and competitive analysis.
• Maintain a 3-year product lifecycle plan including launches and end-of-life decisions.
• Direct and ensure timely execution of marketing plans including launches and promotions.
• Lead cross-functional teams and mentor junior PMs.
• Gather market data and conduct research; spend time in the field as needed.
• Serve as product expert on performance, pricing, packaging, and value propositions.
• Provide monthly narratives on product-line performance with corrective actions.
• Perform other duties as assigned.

Skills

Product management

Budgeting & forecasting

Strategic planning

Cross-functional leadership

MS Office

Financial analysis basics

Market research

Project management

Communication skills

Team collaboration

Education

Bachelor's degree in business or related field

MBA or advanced degree preferred

Tools

Microsoft Office

Job description

The Senior Product Manager is responsible for developing and executing product strategy plans, including 3 year life-cycle plans that fit the company's selling tactics, distribution channels, strategy, and financial goals on the large volume, strategically important product categories. This position ensures timely execution of marketing plans and effectively communicates critical information. This position will supply market and product data, analysis, and recommendations as needed. This position is responsible for understanding competitive product lines and can compare and contrast product features and benefits with a compelling selling story. This position is also responsible for understanding, initiating, and utilizing all tactical business drivers to obtain financial objectives.

• Develop short- and long-term product plans designed to deliver growth and profit performance that aligns with the overall goals or the organization.
• Prepare annual plans for each major product line. Responsible for achieving plans for each major product line.
• Provide strategic, specific, and targeted recommendations for growth as the recognized expert in the competitive environment, existing internal capabilities, and potential new capabilities. Seek out, evaluate, and prioritize opportunities for product improvements, product line additions, new markets, improved merchandising, promotions, and other growth prospects.
• Responsible for maintaining a product line portfolio strategy that includes a 3 year product life-cycle plan that will include new product launches, product modifications, promotions, and end of life discontinuations.
• Provide direction and ensure timely execution of marketing plans including product launches, product modifications, and promotions to drive sales of products.
• Display leadership qualities when working with cross-functional teams and internal departments. Drives effective communication and collaboration within the organization. Foster good working relationships among team members and other functional contacts. Mentor less experienced Product Management personnel.
• Market & end user expert through interaction with sales people, distributors, and end users through a variety of venues. Collect and maintain market information. Conduct market research as necessary. Spend 10% of time in the field and documents this time and how and where it is spent learning about customer needs.
• Serve as the product expert on performance, functionality, pricing, packaging, merchandising, and value propositions to internal and external customers. Provide product-related assistance to other areas of the company as needed.
• Provide monthly narrative on major product line performance to plan focusing on product lines that are significantly above or below plan along with corrective actions. Provide recommendations for delivering growth.
• Perform all other duties as assigned.

Bachelors Degree in business or related technical field and five (5) years relevant experience in consumer goods product management or a minimum of three (3) years product management combined with five (5) years of other relevant business experience. MBA or other relevant advanced degree preferred.

Must possess knowledge managing budgets, forecasts, and business plans to achieve financial objectives.

Must possess knowledge in identifying plus justifying a growth opportunity, then launching new product lines and working with a stage-gate development process.

Demonstrate strong communications skills, verbal and written. Demonstrate proficiency with Microsoft Office (Excel, Outlook, PowerPoint, Word).

Ability to understand basic financial calculations, simple market research techniques, basic implementation of marketing activities (PR, Advertising, Promotions, POP, Packaging), developing strategic plans (pricing strategy, brand positioning, competitive analysis) with limited assistance, exposure to various manufacturing/sourcing supply chains, and a basic project management proficiency.

Ability to be an effective team player that takes initiative and ownership, while influencing cross-functional team.

Travel Requirements

This role requires international travel; candidates must be willing and able to travel internationally as needed.

Salary

This role has an annual salary range of $107,000 - $130,000. In addition to salary, you're eligible for competitive benefits that support you and your family as part of your total rewards package at Klein Tools Inc. Actual compensation is influenced by a wide array of factors, including, but not limited to, skills, experience, and location.