Posts by: Tim J. Smith, PhD

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Profiting with the Post Recession Customer

By Tim J. Smith, PhD August 19, 2009

The current recession has been longer, deeper, and generally more damaging than any other since the great depression. As we move past the recessionary scramble to survive and into some semblance of a recovery, no intelligent executive should expect things to return to the way they were. Research into customer behavior is showing two general trends: (1) Demand is not only generally lower, but also the demand that does exist is at a lower price point. (2) This shift in customer demand and preferences is likely to persist for the foreseeable future.
If the world has changed, so must strategy:

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DePaul Learning

By Tim J. Smith, PhD July 23, 2009

DePaul University Professional Education Presents Pricing Strategy Seminar October 9, 2009 DePaul University, Loop Campus Chicago IL Register at http://www.learning.depaul.edu/standard/content_areas/continuity_pages/courselisting.asp?master_id=774&course_area=KMC&course_number=131&course_subtitle=00 The direct…

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PPS

By Tim J. Smith, PhD July 23, 2009

Pricing Means Business 20th Annual Fall Pricing Workshop & Conference October 22-23, 2009 The Hyatt Regency Grand Cypress, Orlando, Florida Register at…

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ePP

By Tim J. Smith, PhD July 23, 2009

How to win today’s pricing game European Pricing Platform 1st Pricing FuelDay Germany October 29th 2009 Steigenberger Hotel Frankfurt-Langen, Germany Register at…

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PPS

By Tim J. Smith, PhD July 23, 2009

Upcoming 5TH ANNUAL GLOBAL PRICING CONFERENCE November 25th -26th, 2009 Brussels, Belgium Watch: http://pricingsociety.com/Page4801.aspx

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Top 6 – July 2009

By Tim J. Smith, PhD July 23, 2009

“There is a limit to the information a hungry mind can digest, a limit that often corresponds to the magical number seven,…

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Product Variety Management and Sales Volume

By Tim J. Smith, PhD July 23, 2009

Choice is good, more choice is better … or is it? Is it always better to offer customers more choices, or should companies restrict the choices available to customers in some situations?

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Top 6 – June 2009

By Tim J. Smith, PhD June 13, 2009

An economist, finance executive, and marketer walk into a PWYW bar. The finance executive says: “With pricing like this, how can this…

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Multicultural Marketing: A Misunderstood Concept and Untapped Business Strategy

By Tim J. Smith, PhD June 13, 2009

Newly released census figures show that the nation’s minority population has reached 102.5 million people, or one in three Americans. This burgeoning population—and the buying power it represents—makes effective multicultural marketing imperative for businesses to succeed. Yet many firms in our businesses community lack both a clear understanding of these diverse consumers and a disciplined approach to investing in and managing multicultural marketing. So, how can companies begin or improve multicultural initiatives?

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If a Business Lets You “Pay What You Want”, Could It Survive?

By Tim J. Smith, PhD June 1, 2009

Come into most executives’ offices and say “I have a great promotional idea: Let’s let customers pay what they want. It will be great!” and your career there is all but over. Yet, experiments recently demonstrated that it was great, and more specifically, it was great for profits. How can this be?

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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.