Top 6 – January 2009
Published January 6, 2009
A Black Eyed Pea for Each Day of the Year …
- Trickle down economics may be doubtful, but trickle down empathy isn’t. Good karmic boomerangs increase good karma. Enjoy the profits of good karma.
- Back up statements with action. The inability to do so makes one look like a fool.
- Avoid catastrophic pricing failures with the right team, empowered to deliver the right information, and with the expectation that their voice will be acted on.
- Economics is a fact that we can’t avoid. Rather than putting your head in the sand like an ostrich, cross the road like the chicken and deploy economic predictions for success.
- Category level cross elasticity of demand is a fact you can bank on. Food and household consumables producers: Opportunity NOW.
- Make yours a happy new year. Do smart marketing.
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.