Executive Director of Product Development

Company: Precise Resource
Location: Chicago
Posted on: April 19, 2024

Job Description:

Executive Director of Product Development
Precise Resource, Inc. is a leading privately held Woman Business Enterprise specializing in Executive Search and HEAD HUNTING services for Fortune 500 clients across the United States. One of our more prestigious clients has asked for our assistance in seeking an Executive Director of Product Development.
Our client is a reputable American business based in Illinois that specializes in crafting top-tier hand tools and venturing its way into power tools. This renowned firm has earned a positive reputation among those that enjoy a high-quality product.
What you will be doing: You'll have the chance to lead, develop, and inspire a dynamic team of up to eight (8) Product Management professionals. As a pivotal member of our organization, you'll play a crucial role in driving excellence and innovation in new product planning, design, development, and introductions. Your leadership skills will guide our team toward success as our client continues to deliver exceptional products to valued customers.
Showcase your exceptional leadership skills, strategic vision, and innovative thinking. As the driving force behind new product development and the management of the existing product portfolio, you will play a pivotal role in shaping our client's company's future. Your expertise will guide our research and concept development activities, leading to the creation of groundbreaking products, remarkable product enhancements, and thoughtful product redesigns when needed.
You will be expected to develop and execute product strategy and planning, including multi-year life cycle plans for a portfolio of product categories that fit the company's selling tactics, distribution channels, corporate strategy, financial goals, and consumer satisfaction metrics. In addition, this position will drive the development of new product programs by providing the strategic vision for the product portfolio and prioritizing end-consumer needs and preferences.Responsibilities:

• 
  
• Champion the use of market and end-consumer research to aid in decision-making. Responsible for planning and conducting in-depth market studies when additional research is needed, such as undertaking specific market studies, organizing focus groups, planning voice of customer research, etc. Ensure the product management team members consistently focus on end-consumer needs and preferences.
  
• Collaborate with the marketing team to review, plan, and coordinate all marketing communication activity that communicates with outside customers and consumers (i.e., product collateral, web content, packaging, branding, advertising, public relations, etc.)
  
• Maintain steadfast focus on guiding the product management team to improve time-to-market from new products and the process that delivers those new products. Remain mindful of efficiency and champion improvements that bring efficacy to the internal process when opportunities are uncovered.
  
• Direct and manage a product management team responsible for recruiting, mentoring, developing team members, and retaining talent within the organization.
  
• Develop short- and long-range strategies for multiple product categories that optimize the company's financial and consumer satisfaction performance objectives.
  
• Develop financial objectives for multiple product categories and lead a product management team to deliver annual plans to achieve these goals.
  
• Remain knowledgeable of changing market trends, directions, and competitive conditions. Monitor competitive products and competitors' marketing activities. Provide direction to the product management team as to how to adjust new product development roadmaps, marketing plans, and other commercial activity to ensure that Klein Tools remains at the forefront of industry and market trends.
  
• Leading by example, ensure that product management team-members remain current with competitors and market trends through interactions with sales team members, distributors, and end-consumers through a variety of different research methodologies.
  
• Display leadership when working with cross-functional teams. Inspire and champion effective communication and collaboration among cross-functional team members and internal departments. Foster good working relationships among direct reports, team members, and other functional contacts.
  
• Provide guidance and leadership to team members with respect to monthly reporting requirements. Review and assist product management team members in preparing monthly narratives on major product line performance relative to plan, focusing on product lines that are significantly above or below plan along with corrective actions.
  
• Oversee one or more major product management programs as assigned, such as the Product and Consumer Research Specialist (PCRS) development program, Voice of Customer program, monthly business reviews, annual planning, etc.
  
• May be required to plan and control an operating budget for the product management team for which this role is responsible.
  
  Qualifications:
  
  • 
    
  • Bachelor's degree in business, Marketing, or Engineering or a closely related field and a minimum of 7 years of related work experience in product management, marketing, business, and product design. MBA or another related advanced degree. Extensive business experience in battery-powered tools, test, and measurement, or the consumer goods industry, is strongly preferred.
    
  • Must have previously worked with large home improvement retailers or mass market retailers and wholesale distributors targeting the electrical or construction industries.
    
  • Experience of marketing and selling products directly to end-consumers through online marketplaces such as Amazon is preferred.
    
  • Must possess experience in evaluating markets, market trends, sales, competitor activity, customer and consumer feedback to assist in developing new product concepts and strategies, product line plans, and product roadmaps.
    
  • Experience with planning and executing multiple market research methodologies that included significant direct end-consumer research is expected.
    
  • Experience with implementing marketing activities such as public relations, advertising, promotions, POP, packaging, pricing strategy, brand positioning, and competitive analysis is expected.
    
  • Must demonstrate knowledge of product portfolio planning and product development processes. Demonstrate strong financial understanding, modeling, and forecasting skills.
    
  • Ability to lead cross-functional product development teams.
    
  • Successful leadership experience with a proven track record of recruiting, developing team members, and retaining talent within organizations is expected.
    
  • Ability to effectively communicate and present information to direct reports, other team members, peers, senior management, leadership stakeholders, customers, and suppliers is required.
    
  • Must be proficient in project management, have demonstrated strong planning, organizing, administrative, and change management capabilities, and have strong communications skills, both verbal and written.
    
  • Proficiency with Microsoft Office (Excel, Outlook, PowerPoint, Word) is expected.
    
    
    #J-18808-Ljbffr

Keywords: Precise Resource, Berwyn , Executive Director of Product Development, Executive , Chicago, Illinois