Posts by: Tim J. Smith, PhD

Evolving Product Strategy in a Growing Industry

By Tim J. Smith, PhD January 30, 2019

Between the highest- and the lowest-priced products, other products will be positioned. A plethora of product positions in price and benefits should be considered the norm as an industry moves from introduction, through growth, and into maturity.

Strategic Movements: January 2019

By Tim J. Smith, PhD January 30, 2019

MoviePass pays theatres for each visit by a patron. Simply, it’s poor thinking on MoviePass’s part. Pricing Strategy, Chapters 12 and 13 would have told them this was poor thinking. Too caught up in Lemming Thinking on e-subscription services.

Federal Court v. Apple on Tying Arrangements

By Tim J. Smith, PhD December 31, 2018

As of November 27, 2018, the Supreme Court is determining whether a group of consumers have standing to sue Apple Inc. over the way they manage iPhone apps (1). The probability of this suit being adjudicated by the Supreme Court is definitely non-zero.

Pricing Governance and Culture Change

By Tim J. Smith, PhD November 30, 2018

In order for any pricing improvement project to deliver its potential value, price governance and pricing culture must intersect. Some may want to dismiss this as “too much to take on,” but the results of addressing fundamental questions from both sectors creates the difference between the companies that slog-along and those that thrive.

Strategic Movements: November 2018

By Tim J. Smith, PhD November 30, 2018

While specifics are not clear, the Swedish company Electrolux is noted to have raised U.S. prices by 10%, and is suspected to be seeking a further 4% price increase in early Q1 2019.

Major Commercial Policy Design Issues

By Tim J. Smith, PhD October 30, 2018

In this missive, I examine how companies selling to end customers through distributors and retailers can design their commercial policy.

Strategic Movements: October 2018

By Tim J. Smith, PhD October 30, 2018

Procter & Gamble announced price increases for Pampers and Bounty in July 2018. Kimberly-Clark similarly announced price increases for Huggies and Viva in August 2018. Both cite inflationary cost pressures specifically pulp. Monitoring competitive price moves is good business intelligence. Watch out for inflation 2018

Are You Raising Prices Fast Enough?

By Tim J. Smith, PhD September 29, 2018

Learning from companies in other countries, we find common imperatives to undertake in response to price volatility. These imperatives are related to building the organizational ability to flexibly adjust prices in response to changing market environment.

Strategic Movements – September 2018

By Tim J. Smith, PhD September 29, 2018

How to Manage Price During a Trade War

By Tim J. Smith, PhD August 23, 2018

Executives in industries impacted by the tariffs, retaliatory tariffs, and threatened future tariffs must react. The playbook for executives in this trade war will vary.

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.