In this episode, originally recorded as a webinar, we are joined by Professor Tim Smith, founder and CEO of Wiglaf Pricing and adjunct professor of economics at DePaul University. Tim, who is the author of 'Pricing Done Right' and 'Pricing Strategy,' delves into the complexities of pricing and market research. He discusses the value-based pricing framework, different pricing strategies, and the significance of market pricing. Tim also reviews various market research methodologies such as Van Westendorp's Price Sensitivity Meter, Gabor-Granger, and Conjoint Analysis, highlighting their strengths and weaknesses. Throughout the webinar, he emphasizes the importance of having a solid hypothesis and understanding economic value to the customer for effective pricing research. Don't miss these valuable insights on how to set prices right and maximize value for shareholders.

00:38 Meet Professor Tim Smith

01:16 Starting the Presentation

02:00 Value-Based Pricing Framework

03:07 Market Pricing and Strategy

06:54 Economic Value to Customer

16:16 Pricing Research Methodologies

27:13 Conjoint Analysis

32:41 Conclusion and Final Thoughts