Top 6 – September 2007
Published September 1, 2007
Every Southern Swamp Has Its Water Moccasins
- Fluidity naturally exists in perceptions of value and price. A pricing artist shapes the surface so that the fluid flows to the desired point.
- Watch out for snake oil salesman. Its good to jump in early and learn before the competitors, but every southern swamp has its water moccasins.
- Price discipline shouldn’t lead to draconian simplicity in enforcing an idea. As the GM case demonstrates, it’s a kaizen force that pulls flexibly and responsibly toward a positive direction.
- Hypercompetition remains a reality in high-tech industries. Microsoft, Sony, and Nintendo are still enjoying a fast dance.
- Fewer decisions than people ones must be made with poorer information and greater impact. Manage with care.
- The people you hire and the manner in which they are managed enable your fortune or bring your destruction.
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.