Posts by: Tim J. Smith, PhD

Special Guest Author Angela Hribar, Chief Sales and Marketing Officer of GlobalSpec, Inc.

By Tim J. Smith, PhD January 4, 2009

For many companies, 2008 has been a challenging year. The new realities of our current market and economy have impacted many sectors, and even more expect to feel the effects in 2009. This makes it even more important than ever to plan smarter, more effective ways to market to industrial and technical buyers in the year ahead. Based on research into market trends, here are strategic recommendations to achieve marketing success in 2009. All of these recommendations have something in common: better decision making when it comes to marketing choices.

Six Months Later Pilgrim’s Pride Still Has Pricing Problems – What Went Wrong?

By Tim J. Smith, PhD January 4, 2009

Pilgrim’s Pride rose from humble beginnings as a feed store to become the world’s leading chicken supplier. Yet, 2008 proved to be a year of stumbles, eventually leading to bankruptcy filings and the ousting of CEO J. Clinton Rivers. Business press cites a rise in the cost of chicken feed and oil and the lack of a concurrent increase in price, however many other companies went through similar fluctuations in input costs without the same disastrous results. So, what went wrong with pricing at Pilgrim’s Pride? To answer this question, we will examine Pilgrim’s Pride pricing at the industry level, market level, and transaction level.

OPEC Loss is Grocers’ Gain: Precima National Survey Shows Grocery Store Is Most Likely Place for Americans to Spend Savings from the Pump

By Tim J. Smith, PhD January 3, 2009

Groceries are the top item on which U.S. consumers are spending their savings from lower gas prices, ahead of putting the money in savings, holiday gift buying and paying off credit cards, according to the results of nationwide research from retail analytics firm Precima.

Learning from Berkshire Hathaway Part 2

By Tim J. Smith, PhD December 2, 2008

The Marketer’s Eye™ looks at mortgages, railroads and Carnival Another in a series of white papers for M&A Professionals In this white…

From Homes to Appliances and Autos: Hovnanian, Corning, GM, Ford, and Chrysler Each Must Manage Lower Demand

By Tim J. Smith, PhD December 1, 2008

It is no secret that our global economy is in a downward funk. When will we get our groove back? A debate…

Top 6 – December 2008

By Tim J. Smith, PhD December 1, 2008

Pleasant Winter Solstice Peasant Feast? The “new economics” isn’t new, only the players have changed. Now is your opportunity to prove your…

Matsushita Out, Panasonic Welcomes a New Brand Era

By Tim J. Smith, PhD November 1, 2008

Panasonic began its long history in 1918 as “Matsushita Electric Industrial Co., Ltd.,” and has grown to become the largest Japanese electronics…

Top 6 – November 2008

By Tim J. Smith, PhD November 1, 2008

Each snowflake is unique. Is your market proposition unique? Manage and track your branding. You could be a global star and not…

Referrals: Getting the Most From the ‘Low-Hanging Fruit’ of Sales

By Tim J. Smith, PhD October 1, 2008

Everyone talks about referrals, but few actually pursue them. Referrals should be considered the reward for a job well done. They are…

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.