Posts by: Tim J. Smith, PhD

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Differential Pricing Needs More Than Differentiated Functionality

By Tim J. Smith, PhD December 5, 2005

Why does the price of pen vary so much? Functionally, they are all simply writing instruments for applying ink to paper. We…

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Incremental Improvement or Innovative Changes?

By Tim J. Smith, PhD November 5, 2005

Every budget tells a story. They begin with dreams that rise in spite of challenging conditions. Line items are characters with specific…

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Pedantic or Socratic?

By Tim J. Smith, PhD October 5, 2005

Are you pedantic or socratic when you sell? Which should you be? How do you go from one to the other? Or,…

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Non-Monetary Motivators

By Tim J. Smith, PhD September 12, 2005

Contrary to popular belief, salespeople are not motivated by money alone. Researchers have demonstrated that three other factors strongly contribute to a…

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Motivating through Monetary Incentives

By Tim J. Smith, PhD September 12, 2005

Perhaps the most examined structural motivation tool is the incentive structure of the compensation package. Managers have tinkered with this issue more…

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Motivating the Sales Team

By Tim J. Smith, PhD September 12, 2005

How do managers motivate salespeople to perform? Much research has revealed a number of tools that managers can deploy to motivate their…

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Branding in Business Markets

By Tim J. Smith, PhD August 10, 2005

Repeatedly, executive teams in business markets are frustrated by the issue of branding. While a marketing executive pushes for a greater branding…

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Why Fly in the Days of Webinars?

By Tim J. Smith, PhD July 13, 2005

In the age where technology and communications has brought us instantaneous and continuous connectivity, why do we still make customer visits? Isn’t…

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Dollarizing Effectiveness in Sales & Marketing

By Tim J. Smith, PhD June 8, 2005

Every investment has its own risk and reward profile. While this cautionary statement usually refers to investments between different businesses and asset…

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Optimal Sales & Marketing Expenditures

By Tim J. Smith, PhD June 8, 2005

Is there an optimal level of expenditures in sales and marketing? A simple mathematical model of a business reveals that there is…

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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.