Top 6 – February 2010
Published February 11, 2010
“Here lies a humanist.” Abdurrahman Wahid, First Democratically Elected President of Indonesia, 1940-2009
- Utility defines value. Does your new idea meet this test?
- PWYW continues to find new uses in the market for firms with strong and personal customer relationships.
- If the company doesn’t work, then the customers don’t get served.
- Trademark challenges create management headaches. Make sure you know what your entering into before you reach an abyss.
- PWYW can attract new customers and increase customer loyalty due to its ability to encourage customers to “buy-in’ to the company’s need to succeed.
- If the customers don’t get served, then the company doesn’t work.
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.