Posts by: Tim J. Smith, PhD

Strategic Movements: July 2019

By Tim J. Smith, PhD July 17, 2019

Household Insecticide Pricing Raid, a household insecticide by S.C. Johnson & Son Inc. with roughly 50% U.S. market share, sells for $4.27…

More
The profit revenue bridge for pricing analytics dashboards

Pricing Dashboard Design

By Tim J. Smith, PhD June 17, 2019

Executive dashboards are valuable coordination tools. They help pricing teams communicate facts and identify areas deserving executive attention. This is demonstrably clear.…

More

Strategic Movements: June 2019

By Tim J. Smith, PhD June 17, 2019

Honey Demand Up, Supply Constant.  Prices? Demand for honey has increased as people perceive it as a healthy alternative to sucrose and…

More

Market vs. Executives: I know an old company that let the market the price decide…

By Tim J. Smith, PhD May 25, 2019

I know an old company that let market the price decide.
The market decision wiggled and ziggled but decided it did.
I don’t know why the company let the market decide.
I propose it will die.

More

Strategic Movements: May 2019

By Tim J. Smith, PhD May 24, 2019

Tesla Model 3 sales volume underwhelmed expectations in Mid-April. SpaceX capsule was damaged in weekend engine tests, spewing smoke.  How to respond?  Elon Musk touted the future of self-driving cars and his strategy for deploying them.  If the truth is unpleasant yet you have fan followers, can he simply change the narrative by talking about a brighter future, again?

More

Retroactive Rebates: Decision Inexactitudes

By Tim J. Smith, PhD April 30, 2019

Since rebates are accrued and paid to customers later, one could state that all rebates are “retroactive” in that they impact the effective pocket price captured after the invoice is issued, and generally are issued after the invoice is paid. But that is too broad of a definition of “retroactive rebates.”

More

Strategic Movements: April 2019

By Tim J. Smith, PhD April 30, 2019

Ford is gearing up its Flat Rock, Michigan plant to produce an EV (electric vehicle) SUV (sports-utility vehicle).  Intended sale date of 2020. This is market is hot. Good luck Joe Hinrichs, President of Global Operations.

More

Pricing Habits of Successful Entrepreneurs

By Tim J. Smith, PhD March 25, 2019

Entrepreneurs are generally entering a business landscape with less information, less skills, less resources than an established business. In fact, one should wonder how any entrepreneur can succeed against large, entrenched corporations they’re forced to share the market with.

More

Strategic Movements: March 2019

By Tim J. Smith, PhD March 24, 2019

I know Elon Musk is a Silicon Valley type person, but is he being rational with distribution and price? Tesla announced in late February a plan to end all physical dealerships and move to an online-only distribution. Their justification: to reduce vehicle price to the mythical $35,000. Is this smart?

More

Do CPG Companies Really Have Control Over Pricing?

By Tim J. Smith, PhD February 27, 2019

What can a CPG control and what must be taken as a “given” from the market? Which price should a CPG use as its benchmark for comparing different channels and retailers? Which price points should a CPG attempt to manage?

More

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.