Top 6 – February 2011


Tim J. Smith, PhD
Founder and CEO, Wiglaf Pricing

Published February 3, 2011

“You’ve got to go out there and kill what you’re going to eat.”

Andrew Mason, CEO Groupon

  1. Anytime someone says they are doing something for your benefit, QUESTION.
  2. The end goal of any sales meeting is to produce more sales, period. SELL
  3. The mermaid is a complex design, and most customers will recognize this symbol as “the coffee formerly known as Starbucks.” KISS
  4. Price isn’t the only metric of value. BENEFITS DRIVE VALUE
  5. Execution can be taught; morale cannot. GOALS ARE ACHIEVABLE. FANTASIES, NOT SO MUCH.
  6. Blockbuster mistakenly believed they were in the video rental business and. They weren’t. They were in the home entertainment business. KNOW THY CUSTOMER
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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.