Strategic Movements: November 2018
Published November 30, 2018
Electrolux and Proactive Pricing
“The volatility is high on the materials and on the currency side.” The numbers are still moving around,” according to Therese Friberg, Electrolux Finance Chief. While specifics are not clear, the Swedish company Electrolux is noted to have raised U.S. prices by 10%, and is suspected to be seeking a further 4% price increase in early Q1 2019. Challenges for international business and prices today: U.S. Tariff War and Retaliations, Brexit, and currency crises in Turkey, Mexico, Brazil, and Argentina—just to name a few. It has happened before and will happen again. At least Electrolux is acknowledging and addressing its challenges like an adult.
About The Author
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.