Top 6 – February 2007


Tim J. Smith, PhD
Founder and CEO, Wiglaf Pricing

Published February 1, 2007

Keep the Baby, Discard the Bathwater, then Shift Dimensions

  1. Price Leadership and Followership are not ideas stuck in yesteryear. Tobacco, shipping, and many others are able to execute and profit.
  2. Branding, whether “house of brands” or “branded house”, remains a driver of results even in age of PR and Web 2.0.
  3. In trademark litigation, the only clear victors are the lawyers. Learn to negotiate without resorting to Gladiators.
  4. Money is not the only dimension to negotiate. Learn how to drive agreement by exploring other issues related to the decision.
  5. Win by competing on non-price dimensions, ones which leverage your competitive advantage.
  6. Price wars are like any other negative-sum game. A majority of the time, they leave dead soldiers and no victors.
Posted in:

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.