Posts by: Tim J. Smith, PhD

How should you price consumer space flights

Strategic Movements July 2021

By Tim J. Smith, PhD July 20, 2021

Strategic pricing movements in July 2021: Procter & Gamble and General Mills announced plans to reduce discounts and selectively increase prices to offset costs, while consumer space flight providers determine pricing strategies.

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Best Practices for Executive Milestone Meetings

Wiglaf Internal Memo: Executive Milestone Meetings

By Tim J. Smith, PhD June 17, 2021

The purpose of the executive milestone meeting is to deliver the recommendations that address the key management challenge in a manner which all the key-decision makers can consume, discuss, and act upon. In this article, we provide an overall template for executing successful milestone meetings which can be adjusted to meet your specific needs.

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U.S. Labor Department reports that consumer prices are 5% higher in May 2021 over May 2020.

Strategic Movements June 2021

By Tim J. Smith, PhD June 17, 2021

Strategic pricing movements for June 2021: inflation reports consumer prices are 5% higher in May 2021 over May 2020, Campbell Soup Co. (CPB) is raising prices to offset higher costs, Ford is developing the all electric F-150 Lightening truck, corn and chicken prices are way up.

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Strategies for being effective in committees

Making Committees Work for You

By Tim J. Smith, PhD May 18, 2021

How do you get things done in a committee? We join many committees for many reasons, but generally we join them for…

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What Do Hiring Managers Look for When Hiring Pricing Professionals?

The Makings of a Pricing Professional

By Tim J. Smith, PhD April 16, 2021

The Makings of a Pricing Professional What does it take to become a pricing professional?  What do hiring managers look for in…

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J.M. Smucker Co Announces 2021 Price Increases

Strategic Movements April 2021

By Tim J. Smith, PhD April 16, 2021

Price Check on Kimberly-Clark Again… Kimberly-Clark, maker of Kleenex, Cottonelle, Scott paper products, Huggies, Depends, and Kotex, plans to raise prices by…

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Carol Tomé, CEO of UPS, made the choice to focus on profits, and it is paying off

Carol Tomé Shifts the Focus

By Tim J. Smith, PhD March 19, 2021

Which do you want: Market share or profits?  Growth at all costs or profitable growth?  To be big or to be profitable?…

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CPG giant Kimberly-Clark drives growth during COVID with new product development and brand advertising

Strategic Movements March 2021

By Tim J. Smith, PhD March 19, 2021

Price Check on Procter & Gamble Household Goods IRI data indicated a growth in sales of premium products from soap and household…

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Profit Bridge diagram - improving profits through pricing - from Tim J. Smith, PhD

Measuring the Impact of Pricing Initiatives

By Tim J. Smith, PhD January 18, 2021

Pricing professionals are generally hired to accomplish a simple goal: improve profits. But how do you measure the impact of pricing on…

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Holiday pricing: are gift baskets overpriced?

Overpriced Gift Baskets

By Tim J. Smith, PhD December 18, 2020

It’s gift giving time in much of the western world.  Whether Hanukkah or Christmas, people are out shopping for the appropriate gift.…

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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.