Posts by: Tim J. Smith, PhD

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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

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Top 6 – January 2015

By Tim J. Smith, PhD January 19, 2015

In the long run, markets equilibrate and entropy wins. But I don’t live in the long run. I live in the here…

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Getting Pricing Done with Jesse Finch Gnehm of GE Oil & Gas

By Tim J. Smith, PhD January 19, 2015

GE has long been known as a process firm, but what processes do they use when it comes to pricing? What do pricing initiatives look like at GE Oil & Gas Subsea Systems? Who contributes to those pricing decisions? How does the pricing function fit within the larger organization? What pricing decisions does the pricing function directly engage? What techniques and tools have been found useful for pricing at GE Oil & Gas Subsea Systems? And are there any external resources that they have found particularly useful?

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Top 6 – December 2014

By Tim J. Smith, PhD December 22, 2014

Hats & Messy Hair. Wintertime in the northern hemisphere: Little kids don’t care about the hair, maybe we shouldn’t either. You can’t…

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Retail, Black Friday, and Value-Based Pricing

By Tim J. Smith, PhD December 22, 2014

Does value-based pricing work in highly competitive environments, even retail environments? When competitive discounting happens, like Black Friday, does the concept loose meaning? Let’s take a look.

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Top 6 – November 2014

By Tim J. Smith, PhD November 24, 2014

Team building and leadership have some roots in Machiavelli. If they are not following, you are not leading. At some point, team…

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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.