Posts by: Tim J. Smith, PhD

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Price Structure Improvements Drive UPS Earnings Up

By Tim J. Smith, PhD June 10, 2015

In terms of market segmentation alignment, different customers receive different benefits (perceived or real) from the same or similar product. This drives variation in willingness to pay. One goal in improving a price structure is to improve the match between the willingness to pay and the price extracted. It is a form of price segmentation.

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International Pricing Among Current Currency Fluctuations

By Tim J. Smith, PhD May 11, 2015

Given the current currency fluctuations and country specific economic situations, what problems do they create for firms and how are prices supposed to be managed across boarders today? These are the pertinent questions facing many of today’s executives.

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Innovate or be Irrelevant

By Tim J. Smith, PhD April 15, 2015

Innovation is clearly on many corporate agendas.  And it is not surprising.  Companies don’t grow by cost cutting alone.  They grow through innovation.  But how?  And what are the implications of this innovation driven agenda?

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Value vs. Power

By Tim J. Smith, PhD April 15, 2015

I met a person who hated value based pricing last week.  He was in procurement.  Where can a value-based pricing advocate find agreement with an anti-value based procurement officer?

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Top 6 – March 2015

By Tim J. Smith, PhD March 16, 2015

“Congratulations to Hifikepuny Pohamba, Namibia President (2005-2015) for winning the 2014 Mo Ibrahim Prize for Achievement in African Leadership. Only the fourth…

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Chunky or Smooth? Retailer and Distributor Value-Based Pricing in Action

By Tim J. Smith, PhD March 15, 2015

Retailers and distributors can’t do value-based pricing for one simple reason: too many products.

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Top 6 – February 2015

By Tim J. Smith, PhD February 17, 2015

“Those who say that I am not Islamic enough should reread their Koran. Islam is about inclusion, tolerance, community.” Abdurrahman “Gus Dur”…

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The Cult of CSAT – How the Pursuit of Customer Satisfaction is Insufficient and What May Replace it

By Tim J. Smith, PhD February 17, 2015

Customer satisfaction has become one of the most discussed leading indicators of business growth and profitability. But is this real? Does it last?

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Business Thought – Leader Survey Responses

By Tim J. Smith, PhD February 17, 2015

[wj_survey_charts]    

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Business Thought – Leader Survey

By Tim J. Smith, PhD February 17, 2015

[wj_survey_questions]    

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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.