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Jared Smith is the CEO of PriceSmith, a consulting firm specializing in pricing strategies for distributors and light manufacturers. With a background in pricing systems from Vendavo and experience as an adjunct professor at Oklahoma State, Jared brings a wealth of knowledge to the table. He is passionate about helping companies optimize their pricing strategies to capture more value.
In this episode, Jared shares his journey from Frito-Lay to leading pricing innovation in the B2B distribution space. Together, they explore the key distinctions between B2B and B2C pricing models, especially the negotiation-heavy and data-rich nature of distribution.
Why you have to check out today’s podcast:
“Invest in your master data and keep chipping away at it. Start with 80/20 of your products and get that right.”
– Jared Smith
Topics Covered:
01:42 - Jared shares how he got into pricing after his MBA and experiences at Frito-Lay and in B2B distribution.
02:57 - Discussion on the differences between B2C and B2B pricing, including transparency and data access.
06:06 - Challenges in understanding why customers buy and the limitations of data analytics.
12:55 - Jared explains his focus on distribution and the unique challenges it presents.
14:40 - Discussion on the relevance and limitations of cost-plus pricing in distribution.
19:17 - Exploration of how to implement good, better, best pricing in distribution.
25:28 - Discussion on whether distributors publish prices or rely on quotes for transactions.
26:33 - Jared shares insights from Uber experiences and how they relate to distribution pricing.
31:27 - The impact of customer loyalty on pricing strategies and potential risks.
32:55 - Jared's key piece of advice on investing in master data for better pricing strategies.
33:58 - Connect with Jared.
Key Takeaways:
“Distribution is an amazing thing. Obviously, it's worldwide. And the simple fact of it, it has two very unique aspects. The first one, a lot of SKUs. And then, the second one is that you have a lot of customers.” – Jared Smith
People/Resources Mentioned:
Connect with Jared Smith:
Connect with Mark Stiving:
4.8
4747 ratings
Jared Smith is the CEO of PriceSmith, a consulting firm specializing in pricing strategies for distributors and light manufacturers. With a background in pricing systems from Vendavo and experience as an adjunct professor at Oklahoma State, Jared brings a wealth of knowledge to the table. He is passionate about helping companies optimize their pricing strategies to capture more value.
In this episode, Jared shares his journey from Frito-Lay to leading pricing innovation in the B2B distribution space. Together, they explore the key distinctions between B2B and B2C pricing models, especially the negotiation-heavy and data-rich nature of distribution.
Why you have to check out today’s podcast:
“Invest in your master data and keep chipping away at it. Start with 80/20 of your products and get that right.”
– Jared Smith
Topics Covered:
01:42 - Jared shares how he got into pricing after his MBA and experiences at Frito-Lay and in B2B distribution.
02:57 - Discussion on the differences between B2C and B2B pricing, including transparency and data access.
06:06 - Challenges in understanding why customers buy and the limitations of data analytics.
12:55 - Jared explains his focus on distribution and the unique challenges it presents.
14:40 - Discussion on the relevance and limitations of cost-plus pricing in distribution.
19:17 - Exploration of how to implement good, better, best pricing in distribution.
25:28 - Discussion on whether distributors publish prices or rely on quotes for transactions.
26:33 - Jared shares insights from Uber experiences and how they relate to distribution pricing.
31:27 - The impact of customer loyalty on pricing strategies and potential risks.
32:55 - Jared's key piece of advice on investing in master data for better pricing strategies.
33:58 - Connect with Jared.
Key Takeaways:
“Distribution is an amazing thing. Obviously, it's worldwide. And the simple fact of it, it has two very unique aspects. The first one, a lot of SKUs. And then, the second one is that you have a lot of customers.” – Jared Smith
People/Resources Mentioned:
Connect with Jared Smith:
Connect with Mark Stiving:
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