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Pricing Strategy

Wiglaf Big Idea Show Presents

Pricing during Currency Fluctuations

Thursday, 21 May
11:00 am Chicago Time
LIVE
Register at wiglafpricingevents.webex.com

Growth in North America and Europe is low to non-existent. The euro is down against the dollar.  China has wage inflation.  Half of the BRIC countries are now investment pariahs.  And the N-11 countries still offer high uncertainty against a backdrop of high potential growth.

Given the current currency fluctuations and country specific economic situations, what problems do they create for firms and how should prices supposed to be managed across boarders today?  From looking at case studies from consumer and industrial markets, we find two challenges to pricing have increased their importance in today’s environment.  Learn the key issues in managing these impacts.

Delegates will learn:

  • The shifting patterns of economic growth
  • The impact of Euro devaluation
  • Impact of the economic shifts on Heineken, Unilever, Colgate-Palmolive, Proctor & Gamble, Johnson & Johnson, Harman, Federal-Mogul, Harley Davidson, H&M, and others
  • The two key impacts on pricing of these economic shifts
  • Routes to managing new pricing pressures
Starring Tim Smith, PhD, Founder and Managing Partner of Wiglaf Pricing, Adjunct Professor of Marketing at DePaul University, and author of Pricing Strategy:  Setting Price Levels, Managing Price Discounts, and Establishing Price Structures.

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Pricing Strategy

Wiglaf Big Idea Show Presents

Customer Brains on Pricing

Thursday, 18 June
11 am - 12 am Chicago Time
Wiglaf Big Idea Show
Register at wiglafpricingevents.webex.com

Neuroeconomics is beginning to challenge classic economic theory of demand in describing why people purchase and what price they will accept.  Yet, despite its thirty year history, most professionals are unaware of the power of neuroeconomics in predicting human behavior, their perception of value, and their willingness to pay.  It is time to rectify this. 

In Customer Brains and Pricing, Tim will review current research into how the brain reacts to prices.

Delegates will learn:

  • Why humans aren’t rational
  • How irrationality can be predicted
  • Why these predictions should influence pricing

Starring Tim Smith, PhD, Founder and Managing Partner of Wiglaf Pricing, Adjunct Professor of Marketing at DePaul University, and author of Pricing Strategy:  Setting Price Levels, Managing Price Discounts, and Establishing Price Structures.

ChicagoBooth

Chicago Booth Entrepreneurship Roundtable presents

Pricing Habits of Highly Successful Entrepreneurs at the Chicago Booth Entrepreneurial Roundtable

20 July 2015
IT's Rice Campus
201 East Loop Road
Wheaton, Illinois, USA
Register

How should executives think of pricing?  More specifically, how do highly successful entrepreneurs do pricing?  Is it different than standard corporate pricing?  What are the parallels and what are the differences? 

In Pricing Habits of Highly Successful Entrepreneurs, Tim J. Smith, (Weekend ’01) will sharehow highly successful entrepreneurs use value-based pricing to simultaneously grow their business and achieve profitability.

Attendees will learn:

  • Value-based pricing – driving both profits and customer adoption
  • The three key questions to address for every pricing question
  • The three key financial questions that must be asked, but have almost no impact on pricing
  • How value-based pricing is used to define business and marketing objectives
  • The three academically accepted and industry proven approaches to price setting
  • How to strategically manage prices in the face of competition using the concepts of competitive advantage and pricing power
  • The proper role and management of discounting
  • How highly-successful entrepreneurs approach pricing differently than corporate pricing functions

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1871

1871 Workshop presents

SaaS, DaaS, IaaS: How to Price Segment with Subscription Relationships

August
Morning Central Time
1871, Chicago, IL
Register with Eventbrite

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PPS

PPS 2nd Annual Latin America Pricing Workshops & Conference

How to Manage Discounts:  Quantitative Methods in Discount Management

16 – 17 September, 2015
Sheraton São Paulo WTC Hotel
São Paulo, Brazil
Register

Research shows that a 1% improvement in price yields a 10-12% improvement in profits, but where can we find the low-hanging fruit of a 1% price improvement:  usually in discount management. 

Immediately after the moment when prices have been set, executives are faced with the challenge of discounting.  Discount decisions can chew up more resources and cause more organizational strife than any other pricing decision.  While some executives would like to eliminate all discounts, discounting is a form of price segmentation and can actually improve profitability when properly managed.  Yet, without proper management and oversight, discounts will spread like a virus infecting every transaction and wreak havoc on profits. 
In this workshop, we will look at the three commonly used tools for analyzing firm-specific discounting practices, and the four commonly used tools executives have to restrain them.  We will also use economic models to show the value of discounting and the influences of Prospect Theory and Competition on discounting policy.

Delegates will be required to bring a laptop with Microsoft Excel for this workshop.  This workshop consists of in-class exercises applying quantitative approaches to monitoring discounts, enabling participants to apply these techniques to the datasets of their own companies.

Delegates will learn:

  • How discounting can simultaneously lower market entrance prices, increase volumes, and improve profitability
  • Quantitative methods for measuring and monitoring discounting policy
  • Quantitative and managerial tools for restraining discounts
  • Implications of Prospect Theory and the Nash Equilibrium on discounting policy

Speaker:  Tim J. Smith, PhD is the founder and Managing Partner of Wiglaf Pricing, an Adjunct Professor of Marketing at DePaul University, Academic Advisor to the PPS CPP program, and the author of Pricing Strategy: Setting Price Levels, Managing Price Discounts and Establishing Price Structures.

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PPS

PPS 26th Annual Fall Pricing Workshops & Conference

20-21 October, 2015
The Palace Hotel
San Francisco, California, USA

Join Tim J. Smith, PhD at PPS San Francisco 2015.  He will deliver a one-day workshop.  Help us select which one by email tsmith@wiglafpricing.com with your top pick.  (Must plan to attend to vote): 

  • How to Price
  • How to Manage Discounts
  • Pricing Psychology
  • Unit, Tiered, and Bundled Pricing
  • Pricing and Sales Strategy
  • Pricing and Corporate Strategy

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PPS

PPS 11th Annual European & Global Pricing Workshops & Conference

02 – 04 December, 2015
Mövenpick Hotel Amsterdam City Centre
Amsterdam, Netherlands

Join Tim J. Smith, PhD at PPS Amsterdam 2015.  He will deliver a one-day workshop.  Help us select which one by email tsmith@wiglafpricing.com with your top pick.  (Must plan to attend to vote): 

  • How to Price
  • How to Manage Discounts
  • Pricing Psychology
  • Unit, Tiered, and Bundled Pricing
  • Pricing and Sales Strategy
  • Pricing and Corporate Strategy

 

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Wiglaf Pricing

Beowulf Professionals Like
Wiglaf Pricing

“Really enjoyed your high octane presentation: it makes pricing interesting & relevant.”

Armin Kakas
Revenue Management
MillerCoors LLC


“Very engaging & thought provoking. The practical & real world cases that you brought up to explain some of the concepts, made things very easy to understand.”

Karthik P
Genpact Analytics


Wiglaf Pricing helps us create compelling arguments for philosophical change to old-school pricing strategies.  We enjoy learning new ideas with Wiglaf’s unique, dynamic storytelling approach!

Deborah Prickette
Director, Global Strategic Planning & Pricing
Emerson Process Management

Highly engaging and entertaining as they cover strategic issues in pricing.  Nice work also in drawing lessons from history applicable to the issues being discussed…”

John Suparman
Value Proposition
PPG Fiber Glass


“Excellent presentation. Good practical advice for managing price effectively.”

Calin Costian
Product Strategy & Pricing
HP


“Thank you for your insightful session on a different perspective to pricing. Your presentation went through a complex topic yet was easy to understand. “

Prasadkumar Dethe
Program Manager, India
HP


"Thorough and thought-provoking … an academic review of the latest findings in the pricing science; [yet] still they remain highly actionable and very relevant for the business life."

Roberto Bedotto
Pricing Director
Carrier HVAC


"Your presentations cover relevant and practical topics, with practical illustrations to bring your messages to life in an entertaining and engaging way."

Helen Taylor
Senior Global Pricing Manager
Sony Ericsson


"Thank you for another excellent presentation. As is typical of your style, your presentations are heavy on actionable ideas ..."

Shawn McNeil
Pricing Manager
Masco Retail Cabinet Group


“Provocative and relatively sophisticated
compared to a lot of Pricing discussions.”

Wesley Woolbright
Director, Corporate Pricing
Safeway Inc.


“Not only do you learn to fish, you learn to price the fish for the maximum profit.”

John Yoo
Commercial Finance Manager
Crown Bolt, LLC

 

Pricing Strategy Book Release

Pricing Strategy Book Release party photos

From Sunday, January 9, 2011, Buckingham Athletic Club,
Chicago, USA

 

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