Pricing Done Right

The Pricing Framework Proven Successful by the World's Most Profitable Companies

Tim J. Smith

Wiley, August 2016

Pricing Done Right provides a cutting-edge framework for value-based pricing and clear guidance on ideation, implementation, and execution. More action plan than primer, this book introduces a holistic strategy for ensuring on-target pricing by shifting the conversation from ‘What is value-based pricing?’ to ‘How can we ensure that our pricing reflects our goals?’ You’ll learn to identify the decisions that must be managed, how to manage them, and who should make them, as illustrated by real-world case studies. The key success factor is to build a pricing organization within your organization; this reveals the relationships between pricing decisions, how they affect each other, and what the ultimate effects might be. With this deep-level insight, you are better able to decide where your organization needs to go.

Pricing needs to be done right, and pricing decisions have to be made—but are you sure that you’re leaving these decisions to the right people? Few managers are confident that their prices accurately reflect the cost and value of their product, and this uncertainty leaves money on the table. This book provides a practical template for better pricing strategies, methods, roles, and decisions, with a concrete roadmap through execution.

  • Identify the right questions for pricing analyses
  • Improve your pricing strategy and decision making process
  • Understand roles, accountability, and value-based pricing
  • Restructure perspectives to help pricing reflect your organization’s goals

The critical link between pricing and corporate strategy must be reflected in the decision making process. Pricing Done Right provides the blueprint for more accurate pricing, with expert guidance throughout the change process.

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About the Author

Tim J. Smith is the Founder and CEO of Wiglaf Pricing and an Adjunct Professor of marketing and at DePaul University. At Wiglaf Pricing, Smith is Helping Executives Manage Price Better.

Smith began his career as a research scientist in quantum mechanics before his interest in transferring technological advances to societal implementations led to pursuits in business strategy. His focus on pricing is a natural culmination of his deep love of math and his orientation to capturing profitable customers.

Smith is a member of the American Marketing Association and the American Physical Society. He has a bachelor’s degree in physics and chemistry from Southern Methodist University, a bachelor’s degree in mathematics from Southern Methodist University, a doctorate in physical chemistry from the University of Chicago, and a masters degree in business administration with high honors in strategy and marketing from Chicago Booth.