Top 6 – November 2007
Published November 1, 2007
The Beauty of Autumn Colors Rises from the Death of Chlorophyll
- Kill erratic brands. – Global brand builders position the brand in the same position worldwide.
- Branding ingredients isn’t a ubiquitous godsend, it requires the ingredient to be differentiated and key to the final product, and works best when the final product brand position is currently weak or in flux.
- Versioning strategies provide additional features and benefits as the customer moves monotonically up from lower to higher value versions.
- Add-on strategies allow customers to enhance the base product with additional products, modules, or features to maximize their individual utility.
- Choosing a versioning over an add-on strategy requires aggregating demands and developing segmentation fences along a single multivariate dimension – it is a Segmentation issue.
- Brand-building is not only advertising. Brand-forward business leaders expand the brand experience throughout the value chain.
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.