Top 6 – May 2017


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

Published May 15, 2017

“It’s not that Penney has been sitting idly by. On the contrary, CEO Marvin Ellison has been moving quickly to try to keep Penney on track with moves such as bringing back appliances last year after 33 years, expanding the number of Sephora beauty shops within a Penney store, and introducing new plus-size apparel lines,” Fortune

  1. Can Penney’s come up with a viable tweak in the age of e-commerce?
  2. Even their competitors declining aren’t making room for the iconic department store to thrive.
  3. How does market share play into all this?
  4. This seems to be an issue well beyond carrying certain names—whether it’s Nike or a house brand.
  5. What do investors want to see to trust this company again?
  6. Should they just concede to the Internet, and migrate completely to an online store?
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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.