20120223100239chapter 4 IML 601 CL2
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CHAPTERfourMarketing and the economics of
publishing
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Chapter 4 Marketing and the economics of publishing
IML 601
58 | P u b l i c a t i o n s a n d P r o d u c t i o n o f I n f o r m a t i o n M a t e r i a l s
After completing this lesson, the student will be able to
Understand the principles and techniques of book marketing
Identify the customer needs
Describe the issues of book promotions
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Marketing and the economics of publishing
IML 601
Chapter 4
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Introduction
a) Marketing refers to all activities concerned
with the flow of goods and services from theproducer to the consumer.
b) It includes the various physical movements
of the product including the pricing,
wholesaling, transporting, and retailing the
product. Also involves packaging, design
and advertising.
c) Marketing may be said to include everything
that has to do with how the products
including in publishing industry are sold.
The Concept of Marketing
Concept 1:
Selling focuses on the needs of the seller; marketing; on the needs of the buyer.
Selling is preoccupied with the sellers need to convert the product into cash;
marketing, with the idea of satisfying the needs of the customer by means of the
product and the whole cluster of things associated with creating, delivering, and
finally consuming it.
Concept 2:
Social marketing which suggests that nonprofit organizations need to understand that
marketing is not about selling, and not about promotion, but about service and adding
value, and that to be successful non-profit organizations must understand
marketings fundamental principles.
Source : taken from Google image
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Kotler, an authority on marketing, defines market ing as concerned with the effective
management by an organization of its exchange relationship with its various markets and
publics.
Marketing is an attitude, a philosophy which influences the style of management itself. Kotler
goes on to define marketing management further as the analysis, planning,
implementation, and control of programmes designed to bring about desired exchanges for
the purpose of personal or mutual gain. It relies heavily on the adaption and co-ordination of
product, price, promotion and place for achieving an effective response.
Kotlers definition of marketing concept states that the societal marketing concept is
customer-oriented backed by integrated marketing aimed at generating customersatisfaction and long-term consumer welfare as the key to organizational goals.
There is a need for the promotion of books and reading in society, and for those concerned
to adopt a marketing approach that will ultimately reach target markets segmented according
to prevalent characteristics. Two important issues to be borne in mind in developing a
reading society, and in improving book publishing and sales are that:
1) marketing is matching product with customer, and2) products should be in harmony with the other Ps in the marketing mix.
The book (product), their customers accessibility (or lack of it) to where products are sold
(place), the price they will be willing to pay, and how to persuade the potential customers to
purchase books (promotion) are all crucial in successful book marketing. Matching books
with customers calls for a shift from the present-day product and production conceptual
approaches to publishing to the market orientation approach.
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Book marketing
Book marketing means the management, the distribution and all the related activities
of profit-making organizations in market which is related with books.
Marketing and promot ion of e-book s in academic l ibraries
E-books are viewed as having the potential to be even more significant for libraries
and learners than e-journals, because of the longstanding centrality of textbooks to
learning in higher education (Armstrong et al., 2006; Rowlands et al., 2007). Indeed,the digital format offers many opportunities for books to be developed as interactive
learning resources, and in some cases substituting for locally designed learning
resources and experiences. However, at this point in time, many academic libraries
are only in a position to make a limited list of e-books available, and are highly
dependent on publishers decisions concerning the availability of and licensing
arrangements for e-books.
For example, in a recent large-scale study Newman and Bui (2009) found that
amongst 138 librarians from 13 countries, 44% of the participants indicated that their
libraries currently own or subscribe to 10,000 or fewer e-books. However, they
predict a significant growth in their e-book budgets in the next five years. Hence, as
Anson and Connell (2009) suggest libraries need to be better prepared for a future in
which e-books may be as important, or more important, than print books.
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4.1 The principles and techniques marketing
Advance Information Sheet
the promotion assistant prepares the books advance information sheet (AIS)
which contains bibliographic information, synopsis, blurb, contents, main
selling points, market profile, author biography.
It is then mailed three to nine months ahead of publication to all the people
who help sell the book
They need the information to enter the title in their catalogues to secure
advance orders.
You have now reached the stage where you should be able to discuss the content of the
topic with your group.
Identify the basic principles and techniques in marketing.
4.2 Study of consumer needs
Around manuscript delivery, the author completes a questionnaire.
The author will supplies personal information, a biography, a advertisement, a
short synopsis, the books main selling points and intended readership or
applicability courses, lists of print and broadcast media that might review or
publicize the book.
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4.3 Display, promotions, book fairs, book reviews
a) Display
The books or other publication materials can be displayed on various
formats of book display shelves, for example display wall shelves,
glass display shelves, etc.
b) Promotions
Free publicity and public relations
Engineering free publicity in the print and broadcast media is more
important in consumer book publishing than in any other effort.
Publishers should make a contact with press and magazine editors,
journalist, radio and television producers.
At the manuscript stage, the publicist targets the market and
formulates a publicity plan.
The key part is identifying the appropriate media that would be
interested and helping them making decision.
Coverage is gained from features, author promotions, press releases,
parties etc.
Other publicity involves informing the trade press about the firm,
distributing bound proof copies to influential people, entering titles for
literary prizes, helping to plan and attend exhibitions, maintaining
contact with the publishers association etc.
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c) Book Fairs
There are many other book fairs in various countries; and many
specialised fairs as well.
Examples of book fair at international level are Frankfurt Book Fair,
London Book Fair, Singapore Book Fair, and Kuala Lumpur
International Book Fair.
At national level, examples are: KLCC Book Fair, Popular Book Fair
Malaysia, KL Book Festival.
Book fairs have existed as meetings for trade since books were
invented.
Originally they were places where merchants could buy and sell
manuscripts; they have always had an international element, and even
the earliest book fairs were patronised by dealers from various
countries.
Book fairs can now be divided into two main categories:
Rights fairs, where publishers sell rights in books to publishers from
other countries, and also meet agents and representatives; and
Selling fairs where books can be sold to the visitors from the stands.
d) Book Reviews
Once bound copies are received, a review list is prepared, tailor-made
for the title, taking account of the authors ideas and contacts.
The review copies are sent out with a review slip which details the
title, author, price, binding, ISBN and publication date and request a
review.
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You have now reached the stage where you should be able to discuss the content of the
topic with your group.
Discuss on how to promote book publications.
4.4 Royalties
Royalty is a payment made by one party and another for ongoing use of an
asset or intellectual property
All book publication royalties are paid by the publishers
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4.5 International markets, E-commerce applications
It would have been perverse to focus our attention away from the processes
that actually create the value for the majority of publishing businesses that is
the value chain leading to the printed product. But we have remained aware
that e-publishing has huge potential for publishers, particularly in reducing the
massive costs involved in physical distribution, opening up hitherto
uneconomic geographical markets, and in creating new revenue streams via
innovative products and services. It also has unpredictable consequences for
the value chain, perhaps leading to the elimination of some players, the entry
of new competitors and the creation of new intermediaries.
This potential threat and opportunity has been repeatedly examined in the last
few years, not to mention being the subject of a great deal of hyperbole.
Rather than adding to this by speculating about what might happen, we have
tried to focus on the observable effects in the whole value chain of e-
publishing at the user interface.
There is a strong awareness of the efficiencies to be gained by using ICT in
both the transaction process and the production process. According to our
survey, the emphasis until now has been on supporting transactions with
customers rather than with suppliers, although advertisers are in a sense both
customers and suppliers and there are similar issues of definition in other
sectors, eg journals.
Publishers in general plan to increase their investment in e-commerce and
ICT to enhance their competitiveness. While most of publishers were most or
quite likely to enhance their e-commerce and e-business activities in the next
three years, assuming general economic growth.
The publishing industry shows very strong awareness of the potential for e-
commerce and e-business technologies in optimising editorial and production
processes and sales and marketing and ordering processes. The potential for
creating new products and services is mainly seen as a more long-term
objective (looking 10 years out) with the exception of journals and books.
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Marketing and the economics of publishing
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4.6 Factors Affect the Market
Reading habit
Language
Economy
Publication concept
Education level Source : taken from Google image
Existence of new author
4.7 How to Increase Market
Translation
ICT technology
Variety
Special program
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Chapter 4 Marketing and the economics of publishing
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At this point you should be able to:
Understand the principles and techniques of book marketing
Identify the customer needs
Describe the issues of book promotions
a) Briefly explain the concept of marketing
b) Briefly explain the element of royalties in publishing.
c) Briefly explain the differences of these concepts:
Display
Promotions
book fair
book review