Product Manager

IDEAL INDUSTRIES, INC. has built a reputation for over a century by crafting iconic tools and practical technology required in aerospace, data communications, electrical, wire processing and construction. The global family of IDEAL brands includes IDEAL Electrical, Anderson Power, and Enatel.

A vibrant and dynamic company, IDEAL is best known for our wire connectors, the gold standard for making electrical connections around the world. Nearly every commercial jet is assembled using IDEAL wire strippers and, as part of the critical equipment on NASA missions, our tools even help NASA astronauts fly to the moon. Most important, our products benefit skilled tradespeople, who reach for IDEAL tools every day.

IDEAL is propelled by the concept of Building an IDEAL World. Our family-run business is committed to building ideal relationships with customers, employees, and communities by crafting some of our industry s most innovative and trusted tools.

* Hybrid role that requires working onsite at the Sycamore, IL location 1 day a week

The Product Manager has a critical role in the success of IDEAL Electrical. This individual will lead the end user research and development of new products for their product lines and expand our understanding and position of IDEAL in the marketplace. He/She will work cross-functionally with Engineering, Channel, Marketing, Sales, and Operations to ensure our products provide differentiated value to our end users and solve their most pressing needs.

The Product Manager will be subject matter experts responsible for product lifecycle management, tracking changes in market share, and working with our Channel and Sales team to deliver on our annual plan.

RESPONSIBILITIES INCLUDE:

Product Management:

• Lead all product lifecycle initiatives from ideation through commercialization and discontinuation.
• Oversee market and competitor research and analyze data to inform the product strategy.
• Be the subject matter expert in the competitive landscape (including the analysis and comparison of pricing, product features, performance, applications, and innovation) and develop strategies to differentiate IDEAL in the marketplace.
• Identify target audiences and develop value propositions for their portfolio of products which align with marketing initiatives and communications.
• Drive marketing plans to support their product strategy partnering with marketing ops and digital marketing teams.
• Work with Sales and Channel teams to develop promotions meet annual sales objectives.
• Work with the Channel Marketing team to develop and implement IDEAL Electric pricing strategies for all channels that carry their products.
• Support Channel and Sales leaders with Product Line Reviews (PLRs), and sales / customer training opportunities as needed.

New Product Development:

• Complete stage gates on time to ensure product launches are timely and profitable.
• Work with Engineering, Supply Chain, and Operations to address roadblocks with urgency during development.
• Lead development of research plans to clearly articulate end user pain points and establish clear Marketing Requirements (Jobs to Be Done) during NPD concepting.
• Develop go to market commercialization strategies with the Channel team to maximize new product opportunities
• Coordinate between Marketing Operations and Digital Marketing teams to ensure commercial launch plans are established and executed.

Leadership:

• Promote a culture of continuous improvement, promoting a work environment that fosters creative thinking, innovation and rational risk-taking.
• Balance immediate and long-term priorities to achieve critical objectives and long-term goals.
• Deliver results by focusing on the critical few objectives that add the most value.
• Build and maintain relationships to motivate and guide their cross-functional teams.

CANDIDATE REQUIREMENTS:

• Bachelor s degree in a related field with a minimum of 5+ years product management experience. MBA is a plus.
• Proven track record of achieving revenue growth & profitability through marketing excellence with technical consumer durable goods.
• Experience working in a fast-paced, innovative environment with a sense of urgency for delivering new…