Tim J. Smith

ISBN-10: 1119183197
ISBN-13: 978-1119183198
320 Pages, Hardback
Wiley: Bloomberg Financial Series
©2016

Synopsis

Executives need to get pricing done right within their firm, but they aren’t necessarily going to be the ones doing the analysis. They do, though, need to get the right people doing the right tasks at the right time.

Pricing decisions have to be made, and the organization needs to understand how to get pricing right. Increasingly there is a focus in the pricing field on how to build a pricing organization within the larger organization. Pricing Done Right addresses that issue.

Executives and managers will benefit from its ideas, and leaders at all levels of the organization will walk away from the book with a practical template for identifying which decisions need to be managed, how to manage those decisions, and who should make which decisions. They also will understand how different decisions are related to each other and what the effects of those decisions might be. With that understanding, they can decide where they need to go as an organization.

Organizational change takes time. Pricing Done Right provides a roadmap for the journey so they can get pricing done right as they implement the changes that will better position them for success.

Pricing expert Tim J. Smith, Ph.D., a frequent speaker and prolific writer on the subject, tackles the issue of pricing and corporate strategy from a fresh perspective, shifting the conversation from the age-old issues of “What is value-based pricing?” and “How do I do pricing analyses?” to “Why and how should I build a pricing organization within my larger organization so that we can ensure that our pricing reflects our goals?”

Media Featuring Pricing Done Right

Bloomberg Taking Stock: Tim Smith on the Pitfalls of Pricing
September 12, 2016. Listen here.

Financial Review by Sinclair Noe: Author Interview with Tim Smith
September 9, 2016. Listen here. Segment begins at 21:25.

Publisher’s Description

Practical guidance and a fresh approach for more accurate value-based pricing

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.