Top 6 – January 2008
Published January 1, 2008
A Black Eyed Pea for Each Day of the Year …
- Protect the brand at almost all costs, but preferably not with a bullet in the head.
- $27.5 billion is anticipated to be spent on Search Marketing in 2008. Spend wisely.
- Don’t fall for the purchasing agent’s ploy, evaluate bundle discounts for profit improvements before accepting the terms.
- Use OPM to grow the business by making products relevant to the market.
- Offering two or more products to two or more segments with contrasting willingness-to-pay in a single bundle can improve profits, under certain conditions.
- Do the research and the math before you launch a new price bundle.
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.