Posts by: Tim J. Smith, PhD

Distinguishing Pricing Decisions from Currency Fluctuations

By Tim J. Smith, PhD November 30, 2021

The impact of pricing decisions on corporate performance is hard to detect.  More so when a company is operating globally, and currency…

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The Journey to Pricing Excellence

By Tim J. Smith, PhD November 30, 2021

Faye Feldstein, Pricing Director at Siemens, and Patience Mutiso, Revenue Management Director at CHEP, jointly discussed their journeys creating multiple pricing centers…

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Strategic Movements November 2021

By Tim J. Smith, PhD November 30, 2021

How are companies in industrial and consumer markets managing through this inflationary period?  Are they raising prices faster than, equal to, or…

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Wendy Johnson's Take on Talent Acquisition and the Value-Based Framework

Wendy Johnson’s Take on Talent Acquisition and the Value-Based Framework

By Tim J. Smith, PhD October 21, 2021

Sometimes – ok, maybe often – a pricing study delivers facts that are in opposition. One measurement indicates the price should be high, while a different measurement indicates the price should be low. What should be done?

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Strategic Pricing Movements October 2021: Samsung

Strategic Movements October 2021

By Tim J. Smith, PhD October 20, 2021

Campbell Soup Co. (CPB) announces price increases to counter rising steel costs, Taiwan Semiconductor Manufacturing Co. announces price increases ahead of fall negotiations, and MCR Hotels starts charging for previously free amenities.

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Pricing with Conflicting Facts

Pricing with Conflicting Facts

By Tim J. Smith, PhD September 21, 2021

Sometimes – ok, maybe often – a pricing study delivers facts that are in opposition. One measurement indicates the price should be high, while a different measurement indicates the price should be low. What should be done?

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Strategic Pricing Movements September 2021: MCR Hotels

Strategic Movements September 2021

By Tim J. Smith, PhD September 21, 2021

Campbell Soup Co. (CPB) announces price increases to counter rising steel costs, Taiwan Semiconductor Manufacturing Co. announces price increases ahead of fall negotiations, and MCR Hotels starts charging for previously free amenities.

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Pricing Graph: Why Today’s Pricing Challenges Seem Insurmountable

Why Today’s Pricing Challenges Seem Insurmountable

By Tim J. Smith, PhD August 17, 2021

Quarterly reporting season is here once again and, while many are doing well, not all companies are shining.  What four things went wrong with pricing? Why do today’s pricing challenges seem insurmountable, and how do we manage such huge swings in supply and demand?

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Strategic pricing moves August 2021: Virgin Galactic increases the costs of space flights

Strategic Movements August 2021

By Tim J. Smith, PhD August 17, 2021

Strategic pricing movements: Virgin Galactic increases prices for space flights, Sanderson Farms sells for $4.5B, Kimberly Clark and Tyson make pricing moves to offset increasing costs.

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The seven key factors for enabling a price increase to succeed

Seven Keys to Successfully Increasing Prices in 2021

By Tim J. Smith, PhD July 20, 2021

In today’s post-pandemic, rising inflation economy, most companies realize a need for a price change. If you are considering a price increase today, which you likely are, here are the seven key factors for enabling a price increase to succeed.

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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.