Top 6 – November 2013


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

Published November 4, 2013

Tragedy to laughter in one word (read aloud with increasing speed): Yuck. Yuck yuck. …. Yuck yuck yuck yuck yuck yuck yuck yuck.

  1. It is the smart marketer today who will recognize key segmentation opportunities and use this important principle to create and develop new markets and profits.
  2. Owning a brand that other people recognize as luxury makes a consumer feel good. What is the proper price tag for that feeling of superiority?
  3. The role of a value-based seller is not blocking revenue for want of a good price. He is more of an advocate for the true worth of a product.
  4. Price discrimination becomes an art only when all the subjects concerned accept the price they pay without a grudge.
  5. Consumption Economics requires Value Based Pricing with Hyper-Veracity.
  6. In the not-too-distant past, the conventional wisdom was that the consumer marketplace was a single, mass market. My how we have evolved and differentiated. Communism had some seriously false premises of human nature. At least capitalism has demonstrated adaptability to human reality.
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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.