Posts by: Tim J. Smith, PhD

Additional Fees: Customer Irritating but Profit Generating

By Tim J. Smith, PhD April 15, 2022

Additional Fees, aka: Junk Fees, Hidden Fees, and Sneaky Fees.  What should a marketer or pricing professional think of them? Additional Fees…

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Strategic Movements April 2022

By Tim J. Smith, PhD April 15, 2022

  Visa & Mastercard Fee Change Visa and Mastercard are rolling out a new fee schedule that has been two years in…

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Strategic Movements March 2022

By Tim J. Smith, PhD March 11, 2022

                 Luxury Price Increase Chanel SA Classic Flap bag went through multiple price increases recently…

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Value Creation v. Value Capture

By Tim J. Smith, PhD February 11, 2022

Three of the four Ps of marketing focus on creating value for customers.  Product management, which includes offering design, services, and help…

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Strategic Movements February 2022

By Tim J. Smith, PhD February 11, 2022

The Substitution Resumes Inflation has hit the grocery aisles and people are changing behavior.  Broadly, the price of groceries increased 6.5% in…

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Welcome to 2022. Now What?

By Tim J. Smith, PhD January 14, 2022

2022 arrived with the first snowstorm of the season in Chicago on New Year’s Day.  Happy New Year came with a snow…

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Understanding Revenue Changes

By Tim J. Smith, PhD January 14, 2022

Managers focus highly on revenue.  Increases are good and decreases are bad.  But what drives those increases and decreases? Most executives will…

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Strategic Movements January 2022

By Tim J. Smith, PhD January 14, 2022

  Profits Down Following FedEx Price Hike FedEx posted a 14% increase in profits in the fiscal second quarter following a price…

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Pricing Done Right Today

By Tim J. Smith, PhD December 17, 2021

How should executives frame their pricing initiatives and is it still relevant today? Pricing Initiative Smorgasbord Since publishing Pricing Done Right, we…

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Strategic Movements December 2021

By Tim J. Smith, PhD December 17, 2021

Noodles & Co Testing Higher Prices Carl Lukach, CFO of Noodles & Co (NDLS), drove an $8 price tag on their new…

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About The Author

timjsmith
Tim J. Smith, PhD, is the founder and CEO of Wiglaf Pricing, an Adjunct Professor of Marketing and Economics at DePaul University, and the author of Pricing Done Right (Wiley 2016) and Pricing Strategy (Cengage 2012). At Wiglaf Pricing, Tim leads client engagements. Smith’s popular business book, Pricing Done Right: The Pricing Framework Proven Successful by the World’s Most Profitable Companies, was noted by Dennis Stone, CEO of Overhead Door Corp, as "Essential reading… While many books cover the concepts of pricing, Pricing Done Right goes the additional step of applying the concepts in the real world." Tim’s textbook, Pricing Strategy: Setting Price Levels, Managing Price Discounts, & Establishing Price Structures, has been described by independent reviewers as “the most comprehensive pricing strategy book” on the market. As well as serving as the Academic Advisor to the Professional Pricing Society’s Certified Pricing Professional program, Tim is a member of the American Marketing Association and American Physical Society. He holds a BS in Physics and Chemistry from Southern Methodist University, a BA in Mathematics from Southern Methodist University, a PhD in Physical Chemistry from the University of Chicago, and an MBA with high honors in Strategy and Marketing from the University of Chicago GSB.