Top 6 – June 2014


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

Published June 9, 2014
  1. Consistently profitable decision-making isn’t based on luck.
  2. It isn’t based on being or having the smartest person on your team, either.
  3. It’s about having a solid and rigorously vetted strategy that fits your firm’s needs and goals, and, critically, communicating that to all members of your team that handle that process.
  4. You have to not only understand what your customers think about your offerings, but also how.
  5. That requires analyzing transactional data and consumer communications at all stages of your sales cycle.
  6. It also often requires investment in your team. Remember: if you train your team, they’ll improve, and may leave… If you don’t, they won’t improve, and will certainly stay.
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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.