Working Together! Taking Control of Textbook Costs at Coastline: Partnership is the key!

What we’ll talk about today Strengthening our partnership The Textbook Market What questions can I answer today What topics can I return and talk about?

Why Partner?  Of all the people affected by textbook prices, STUDENTS have the least control.  Bookstores may be perceived as the cause but are, in fact, the best SOLUTION.  Faculty members are in the best position to effect prices!

Student Perspective Majority of students resent purchasing mandated textbooks More expensive textbooks equate to lower perceived value to students Students are not shown that textbooks are an essential part of a comprehensive & high quality education Students feel “Bundles” are worthless

Bookstores Challenges Demands for increased margins and profitability from college The increase of non-traditional students Old time “Loyalty” no longer exists Changing the perceived image of cheating students with the textbook pricing

Today’s Realities Textbook prices will steadily increase Students will continue to use alternative points of purchase Bookstore sales and contributions to the campus may decrease even more

Take Control of Textbook Costs On Your Campus The Marketing of College Textbooks

The ACSFA study found what it termed a “broken” market in the arena of college textbooks — defined by the report as a supply-driven, producer-centric market rather than a demand-driven, consumer-centric market. The Broken Market

Publisher Faculty Faculty need creates demand on author. Author Owner Owner finances author Publisher / Owner markets book to faculty All decisions about textbook selection are made between these two groups

Faculty Student In the textbook market, the decision maker has no financial stake in the decision to require the book. College Bookstore Teacher tells bookstore which books to carry. Publisher ships to store. Price and other terms have minimal impact on purchase decision. Teacher tells student to purchase the book. Publisher Faculty need creates demand on author Author Owner Owner finances author Publisher markets book to faculty

Student College Bookstore Teacher tells bookstore which books to carry. Publisher ships to store. Price and other terms have minimal impact on purchase decision. Primary Market Secondary Market There is no retail relationship between the SELLER and the BUYER. Buyer’s needs and demands are not conveyed to the seller as in normal retail scenarios. Faculty Faculty need creates demand on author. In the textbook market, the decision maker has no financial stake in the decision to require the book. Teacher tells student to purchase the book. Publisher Faculty need creates demand on author. Author Owner Owner finances author Publisher / Owner markets book to faculty

Student College Bookstore Teacher tells bookstore which books to carry. Publisher ships to store. Price and other terms have minimal impact on purchase decision. Primary Market Secondary Market There is no retail relationship between the SELLER and the BUYER. Buyer’s needs and demands are not conveyed to the seller as in normal retail scenarios. Faculty Faculty need creates demand on author. In the textbook market, the decision maker has no financial stake in the decision to require the book. Teacher tells student to purchase the book. Publisher Faculty need creates demand on author. Author Owner Owner finances author Publisher / Owner markets book to faculty Buyback option Bookstore # 2Other seller Textbook wholesalers and other tertiary markets Dominant relationship Mostly one-way Mutual relationship Tertiary Market

Student College Bookstore Teacher tells bookstore which books to carry. Publisher ships to store. Price and other terms have minimal impact on purchase decision. Primary Market Secondary Market There is no retail relationship between the SELLER and the BUYER. Buyer’s needs and demands are not conveyed to the seller as in normal retail scenarios. Faculty Faculty need creates demand on author. In the textbook market, the decision maker has no financial stake in the decision to require the book. Teacher tells student to purchase the book. Publisher Faculty need creates demand on author. Author Owner Owner finances author Publisher / Owner markets book to faculty Rental option Buyback option Bookstore # 2Other seller Textbook wholesalers and other tertiary markets Dominant relationship Mostly one-way Mutual relationship Tertiary Market Bookstore can utilize tertiary markets to get lower price. Many factors enter into buying decision. Student may purchase book from any of several sources and may also choose to sell back when finished

 Learn how much your textbooks cost on your campus  See if you can choose lower cost books in the future Quick Solutions and More…

 Help your bookstore get adoption information on time Quick Solutions and More… Textbook Information received on time allows your bookstore to work wonders More Used Books Better Bundles Control Over Costs (payroll, freight, returns)

 Aggressively promote your Bookstore’s buyback Quick Solutions and More… Buyback is a student service. Found on the Bookstore’s website Posters distributed at CM, GG, L-J Please help us by mentioning it to your students

 Be involved in creating bundles and custom editions  Tell your publisher rep if you don’t like bundles and won’t recommend them to your students  Custom editions have their own quirks Quick Solutions and More…

 Your Questions…. Quick Solutions and More…

 What other topics can we discuss later?  Other topics could be  Government regulations  Why we price books the way we do  Rental programs? Quick Solutions and More…

Alliances Academic Senate Academic Departments StaffFaculty Administration Auxiliary Colleagues All must work together to take control of textbook prices. The Bookstore can’t do anything without the involvement of the other campus partners. Bookstore

A lot of the information in this presentation are from presentations that my colleagues of the California Association of College Stores gave at our Annual Meeting last November. I want to thank them for letting me use their material.