Posts by: Tim J. Smith, PhD

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Sony Initiates Standards War in e-Readers

By Tim J. Smith, PhD April 5, 2010

In the last weeks of March 2010, just before the media hoopla hit a crescendo on the release of the first Apple iPad, Sony took a shot to establish a more tenable position within the e-Reader market by dropping the price on the Sony Pocket Reader to $169. Is this the beginning of a standards war or a last ditch attempt to move units before Sony finds itself left in the wake of the Apple iPad?

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Top 6 – March 2010

By Tim J. Smith, PhD March 4, 2010

Ah, March, we all get to be Irish for a day. “May the dust of your carriage blind the eyes of your…

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Getting Pricing Right – Nordstrom vs. Abercrombie & Fitch

By Tim J. Smith, PhD March 4, 2010

The recession has tested even the most resilient business model. Through it, Nordstrom has glowed while Abercrombie & Fitch glowered. What caused the disparity in performance between these two strong firms? Their pricing strategies.

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Top 6 – February 2010

By Tim J. Smith, PhD February 11, 2010

“Here lies a humanist.” Abdurrahman Wahid, First Democratically Elected President of Indonesia, 1940-2009 Utility defines value. Does your new idea meet this…

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Dog Groomer Finds PWYW Promotion a Win-Win

By Tim J. Smith, PhD February 11, 2010

Since August 2009, Urban Canine, located in the Wicker Park neighborhood of Chicago, has been letting dog owners use washing facilities, shampoo, ear-cleaning liquid, towels, and even blow driers for self-wash dog grooming at a price of the customer’s choosing. How has this Pay What You Want (PWYW) promotion faired for Urban Canine? I caught up with Tony Sauer, owner of Urban Canine, to understand how the program’s performance.

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Top 6 – January 2010

By Tim J. Smith, PhD January 13, 2010

“The purpose of business is to create and keep a customer.” Peter Drucker, 1909-2005 The relationship management continuum begins before the initial…

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It’s Time for a New Booking Class in Airline Pricing: Coach Plus

By Tim J. Smith, PhD January 13, 2010

Since the introduction of global distribution systems for airline tickets and hotel rooms, the commoditization of coach flights was foretold. The internet has only exasperated the problem, leading to the despairing cry that, in coach pricing, “an airline can only price as smart as their dumbest competitor.” To combat this horrid position, airlines may want to consider creating a new “Coach Plus” booking class.

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Owlish Communication’s Tidbit: Monetizing LinkedIn

By Tim J. Smith, PhD December 15, 2009

J.D. GERSHBEIN, President of OWLISH COMMUNICATIONS, and a contributing editor to the Wiglaf Journal, has emerged as the top LINKEDIN PROFILE WRITER…

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Top 6 – December 2009

By Tim J. Smith, PhD December 15, 2009

When the going gets tough, the tough get going. Deep dives into what drives customer choices usually leads to dramatic results ……

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When Will Demand Return?
Strategic Preparation for 2010

By Tim J. Smith, PhD December 15, 2009

If the Great Recession is over, when will demand return? Is it time to start hiring and re-investing in the business? Should an executive cut further given the low level of demand? Or, even worse, is it time to close shop and look for greener pastures? In this article, we look at the changes in demand driven by the recession, and its implications for corporate strategy during the “new normal” recovery.

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About The Author

timjsmith
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.