Top 6 – March 2012
Published March 1, 2012
Giving up is living suicide. I choose life.
- The responsibility for ensuring your customers care about your differential value is yours.
- The big picture in marketing today is that we have highly sophisticated customers who have vast quantities of information at their fingertips. You don’t fool smart customers by spinning falsehoods.
- We are all servants here. If you want to lead, serve.
- Customers are willing to embrace a provider and become a customer for life if they are treated in a fair and reasonable manner.
- Pricing must be an element of longer-term strategy, centered on the challenge of identifying how to create value for your customers as the route to capturing it for your shareholders
- If the customer doesn’t see and acknowledge the value, the value doesn’t exist.
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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.