Top 6 – October 2007
Published October 1, 2007
For good mushrooms, take a walk in the woods
- Mark Leslie, a former entrepreneur who founded and was CEO of Veritas Software, suggest management go through the Sales Learning Curve and involve all aspects of the firm during this stage.
- In going up Sales Learning Curve, close the gap between what an entrepreneur think salespeople should be selling, and what they actually are.
- When overstocked and confronted with dramatic decrease in demand, homebuilder executives profited by discounting rather than suffer the cost burden of carrying inventory.
- Segment customers on how they value the offering, not just size and location.
- Identify how customers value your products, and encourage salespeople to communicate these sources of value.
- Show customers the value differential.
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.