Speaker: Tim Smith, Managing Principal, Wiglaf LLC

Dr. Tim J Smith is the founder and Managing Principal of Wiglaf Pricing, Adjunct Professor at DePaul University, Academic Advisor to the PPS Certified Professional Pricing program, and author of Pricing Strategy: Setting Price Levels, Managing Price Discounts, & Establishing Price Structures (Southwestern Cengage, 2011).

At Wiglaf Pricing, Smith provides strategic pricing support for entrepreneurial and globally established firms in business and consumer markets. With hard-hitting, focused messages for executives, Smith encourages actions that matter.

Pricing has been reborn, escaping the yoke of cost-plus and flourishing under new freedoms found though value-based orientations. Now, it is time to codify these gains through sharing the toolset required for value-based pricing. Yet what is the new toolset required to for pricing? What questions does this toolset enable a pricing professional to ask and address? And, how can these tools enable the gains of the renaissance in pricing to be widely shared.

In this session, Tim Smith will share how pricing has been evolving over the past few decades towards a well-defined route for delivering pricing excellence. He will demonstrate how the marketing orientation of the firm as advocated by Peter Drucker and Theodore Levitt leads to profitable pricing decisions, clarify how strategic and tactical pricing challenges can be properly defined to enable profitable decisions, and emphasize the relationships between strategic pricing and the strategic resources of the firm.

Attendees will learn:

• The new changes in pricing as a discipline.
• The new toolsets needed for informing pricing decisions.
• The new questions pricing should address and influence.
• The increasing importance of integrating pricing strategy into corporate strategy.

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