Posts by: Tim J. Smith, PhD

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Getting Pricing Done with Robert Smith, Eastman Chemical Company

By Tim J. Smith, PhD June 9, 2014

How are leading companies getting pricing done? What kinds of challenges should the pricing function address? Who should be engaged, and with what sorts of tools and techniques? Find out more in this interview with an industry leader.

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Top 6 – May 2014

By Tim J. Smith, PhD May 5, 2014

“The brain is wider than the sky.” -Emily Dickinson Psychological pricing is effective. Even the most cautious brains take mental shortcuts to…

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Top 6 – April 2014

By Tim J. Smith, PhD April 2, 2014

“Let X equal X”, Laurie Anderson, Big Science (1982). In search of the perfect… Wasabi Peas Steamed Peas Pea Puree Pea Gelato…

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Say What? Business Jargon Gone Awry.

By Tim J. Smith, PhD April 2, 2014

An evaluation of high-level strategic thought leadership process best practices.

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Top 6 – March 2014

By Tim J. Smith, PhD March 6, 2014

“Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.”…

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Pricing Note: BISR

By Tim J. Smith, PhD March 6, 2014

A BISR analysis differs from standard CPC (cost per customer) and ROI (return on investment) calculations to reveal the true ROMI (return on marketing investment) after accounting for the fact that many of the purchases related to an advertisement or coupon would have occurred in the absence of the promotion.

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Top 6 – February 2014

By Tim J. Smith, PhD February 5, 2014

“I don’t subscribe to the notion that companies exist to create value strictly for their shareholders. I think they are there to…

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Netflix Goes to the Pricing and Branding Trough Once Again

By Tim J. Smith, PhD February 5, 2014

In 2011, Netflix’s pricing and branding shuffle enraged customers. After taking a few back steps, Netflix is at it again for 2014. What makes Reed Hastings, CEO of Netflix, Inc. think he will succeed this time, given that customers and shareholders alike ranted hyperbolic disapproval at his earlier moves?

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Top 6 – January 2014

By Tim J. Smith, PhD January 7, 2014

Welcome to 2014. May you have a punk year: Hope => Vision => Action => Perseverance => Luck Hope is a choice.…

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Kenichi Ohmae and Pricing Strategy

By Tim J. Smith, PhD January 7, 2014

In his classic 1982 text “The Mind of the Strategist”, Kenichi Ohmae fathered the 3 C’s model of corporate strategy. What can a veteran strategy book tell us about contemporary pricing strategy? Surprisingly, quite a lot.

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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.