BISG's MIP for Higher Ed - Paxhia, steve
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Book Industry Study Group’s Student Attitudes Toward Content in Higher Education Seeking high value content at the lowest possible cost 1 © 2011, the Book Industry Study Group
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Presentation from BISG's "What College Students Think: Making Information Pay for Higher Ed Publishing" Conference, held Feb 9, 2011 in NYC. TITLE: (OPENING KEYNOTE) Findings from BISG's Student Attitudes Toward Content in Higher Education Survey (and what it means for your business) DESCRIPTION: It's still a textbook world according to the first fielding of BISG's Student Attitudes Toward Content in Higher Education. Despite their fondness for social networking and cell phones, most college students say they prefer textbooks in printed rather than e-text form. That said, survey respondents find textbooks overpriced and are aggressively seeking more affordable options. In this Opening Keynote, Steve Paxhia will review findings from the inaugural BISG research survey and contrast the rapid growth of e-book sales in the consumer market with the more modest growth of e-texts in the education markets. Moreover, Steve will reflect on how this new data clarifies both the opportunities and risks encountered by publishers en route to a successful digital content strategy.
Transcript of BISG's MIP for Higher Ed - Paxhia, steve
- 1. Book Industry Study GroupsStudent Attitudes TowardContent in Higher EducationSeeking high value contentat the lowest possible cost 2011, the Book Industry Study Group 1
2. Overview The semi-annual online survey focuses on collegestudent perceptions related to educational content andpresentation media in the higher education market. It is powered by Bowkers PubTrack Consumer. The data reported today comes from the first survey inVOLUME ONE. The second survey in VOLUME ONE will be fielded laterthis month. 2011, the Book Industry Study Groupwww.bisg.org 2 3. Overview Survey questions were developed in partnership with avariety of publishers and other companies working in thehigher education market place. For the first survey in VOLUME ONE, 1505 collegestudents drawn from a nationally representative panelwere polled. The online Real-Time Reporting service is a greatresearch tool. 2011, the Book Industry Study Group www.bisg.org 3 4. Considerations Why do students prefer printed textbooks? How do students define value? How do students seek value? What students are most likely to acquire their contentvia illicit behaviors? How are next generation products perceived bystudents? 2011, the Book Industry Study Group www.bisg.org 4 5. SampleDemographics The sample hadappropriate levels ofparticipation by:Age Class yearGenderType of institution Fulltime vs. part-time students 2011, the Book Industry Study Group www.bisg.org 5 6. CourseDemographics Students were asked to answer a series of questions based upon the first course they attend on Tuesday. Courses were categorized by: Academic disciplineRequired vs. electiveStudent interest in class material Major/minorTaught on campus vs. online 2011, the Book Industry Study Group www.bisg.org6 7. Key Findings What did we learn from the student responses? 2011, the Book Industry Study Group 7 8. Key Finding:Print vs. E-Textbooks 21% of students had purchased ane-textbookGraphics are 75% of students preferred available astraditional printed textbookspart of theover digital replica e-textbooks.purchased Like the look and feel of print Potential for permanence of study. ownership Opportunity for resale Visithttp://www.bisg.org/ Online courses use many more e- publications/product.textbooks php?p=22&c=437for options. 2011, the Book Industry Study Group www.bisg.org 8 9. Do readers reallyprefer print?Other publishing segments have asked the same question Newspapers 61% of people now read news everyday on the Internet vs. 50% who read newspapers [Pew Project] Magazines 3 years ago only 1.5% of subscribers selected digital replica consumer magazines Now 38% of iPad owners are reading digital magazines [Changewave research] 2011, the Book Industry Study Group www.bisg.org 9 10. Do readers reallyprefer print? Trade Publishing Four years ago almost no penetration Now more than 10% and doubling annually Only 17% say that they prefer print And 17% say that they were not satisfied with thedigital display. 2011, the Book Industry Study Groupwww.bisg.org 10 11. Whatconsumersreally like todoReplica digital Newspapers Replica e-MagazinesReplica e-books on PCs 2011, the Book Industry Study Groupwww.bisg.org 11 12. Students reportedlow satisfaction withReplica E-TextbooksGraphics are Current e-textbook available asofferings have yetpart of theto achievepurchasedconsistently high study.levels ofsatisfaction Visit http://www.bisg.org/ publications/product. php?p=22&c=437 for options. 2011, the Book Industry Study Group www.bisg.org 12 13. Whatconsumersreally do like Digital Products that:Make good use of the digital platform Offer features and value above andbeyond printed versionsOffer better prices 2011, the Book Industry Study Group www.bisg.org 13 14. Student Value Proposition How do students perceive the value that they are receiving from their course materials? 2011, the Book Industry Study Group 14 15. Decision factors Price and availabilityare currently reportedGraphics areas the key decisionavailable as part offactors. It appears the purchased study.that students view Visitcontent as ahttp://www.bisg.org/publicationcommodity that should s/product.php?p=22&c=437be acquired efficiently. for options. 2011, the Book Industry Study Group www.bisg.org 15 16. Acquisition methods Only 62% of students reportedthat they were purchasing thetraditional print version of theGraphics arecurrent edition (new andused). available as part ofthe purchased study. The growth of previous editionsales suggests that students Visitand faculty are tiring of short http://www.bisg.org/publicationrevision cycles.s/product.php?p=22&c=437 for options. Rentals continue to increase. Note the increase inborrowing and sharing. 2011, the Book Industry Study Group www.bisg.org 16 17. Relative Satisfaction Textbooks are highlydeveloped products withmany rich features that are Graphics areoptimized for print. Yet onlyavailable as part of41% of students report high the purchased study.satisfaction with these wellestablished products.Visithttp://www.bisg.org/publication Less mature products ands/product.php?p=22&c=437features have lower levels offor options.highly satisfied students. 2011, the Book Industry Study Group www.bisg.org 17 18. Key Finding:Value Perceptions Students dont yet fullyGraphics areunderstand the benefits ofpremium digital offerings like available as part ofMyLabs, Connect, and Wileythe purchased study.Plus [see red bar at right]. Visit How do premium digitalhttp://www.bisg.org/publications/product.php?p=22&c=437offerings escape the ancillary for options.perception? 2011, the Book Industry Study Group www.bisg.org 18 19. Finding the valueproposition Value equals low price, high usage and rich pedagogy Students found textbooks to be more valuable When they were used extensively by their instructors In their major When they had a personal interest in the course material 2011, the Book Industry Study Group www.bisg.org 19 20. Platforms and Devices What devices are students currently using and planning to purchase? 2011, the Book Industry Study Group 20 21. E-Reader devices For faculty, the size of theinstalled base is essential ifGraphics arethey are to adopt digitalcontent for their courses. available as part ofthe purchased study. Over the last 10 years,computers have achieved aVisitlarge installed base, http://www.bisg.org/publicationespecially when s/product.php?p=22&c=437 for options.supplemented by campuscomputing centers. 2011, the Book Industry Study Group www.bisg.org 21 22. Key Finding:E-reader purchaseintentGraphics are While there are many available as part ofinteresting new devicescoming to market, most lack the purchased study.the computing power and Visitapplications required byhttp://www.bisg.org/publicationstudents. s/product.php?p=22&c=437 for options. Most students are unlikely topurchase and carry multipledevices. 2011, the Book Industry Study Group www.bisg.org 22 23. Illicit Behaviors Why do students seek alternatives in content and acquisition? 2011, the Book Industry Study Group 23 24. Key Finding:Illicit BehaviorGraphics are There are a range of illicit available as part ofcontent acquisition strategiesthat have been enabled by the purchased study.the Internet. Visit The student reports werehttp://www.bisg.org/publications/product.php?p=22&c=437quite forthcoming indicating for options.that this behavior is growingand becoming morepervasive. 2011, the Book Industry Study Group www.bisg.org 24 25. Key Finding:Illicit Behavior(by age)Graphics are Older students report more available as part ofof these types of activitiesthan younger students. This the purchased study.data suggests that older Visitstudents may be more frugal http://www.bisg.org/publicationbecause they are spending s/product.php?p=22&c=437 for options.their own salaries on contentacquisitions. 2011, the Book Industry Study Group www.bisg.org 25 26. Key Finding:Illicit Behavior(by school year) Graphics are Based upon the school yeardata, it appears thatavailable as part ofstudents learn from theirthe purchased study.colleagues about alternateVisitcontent acquisitionhttp://www.bisg.org/publicationstrategies.s/product.php?p=22&c=437for options. 2011, the Book Industry Study Group www.bisg.org 26 27. Key Finding:Illicit Behavior(by payment source)Graphics are Students who report thattheir parents are paying are available as part ofless inclined towards the purchased study.engaging in illicit content Visitacquisition behaviors.http://www.bisg.org/publications/product.php?p=22&c=437 for options. 2011, the Book Industry Study Group www.bisg.org 27 28. Key Finding: While it seems logical that students who were satisfiedIllicit Behavior with the price of books(by overall pricewould be less likely to engage in illicit behaviors,satisfaction)the study data indicates that the reverse is true. The students who are most satisfied with prices are the most likely to use alternative acquisition strategies. Maybe thats why theyre satisfied with the price... 2011, the Book Industry Study Group www.bisg.org 28 29. Key Finding:Illicit Behavior(by value perception)Graphics are Its value that students arestriving for. When students available as part ofreported finding the core the purchased study.textbook to be valuable, they Visitare less likely to engage inhttp://www.bisg.org/publicationillicit behaviors.s/product.php?p=22&c=437 for options. 2011, the Book Industry Study Group www.bisg.org 29 30. Conclusions 2011, the Book Industry Study Group 30 31. Conditions for rapidmarket expansionValue+ Innovative Platforms and Devices+ Enthusiastic Channel Partners= Rapid Market Expansion 2011, the Book Industry Study Group www.bisg.org 31 32. ValueValue for students =low price + high usage in the course + and rich pedagogy 2011, the Book Industry Study Groupwww.bisg.org 32 33. New devices andplatforms PCs are the preferred platform today o Ubiquitous o Processing power o Necessary apps- word processing, spreadsheet, etc. New devices are emerging but theperfect mobile educational devicehas yet to be released 2011, the Book Industry Study Groupwww.bisg.org 33 34. Channel partners Apple iStore o iPad apps Amazon o Using their 25% market share Barnes and Noble o Establishing the NOOKcolor CourseSmart, CafeScribe, and Xplana College stores? 2011, the Book Industry Study Groupwww.bisg.org 34 35. Illicit behaviors When students dont perceive value commensurate with price, they will find other ways to obtain their content.o Copyingo International editionso Old editions Next generation digital courses have the potential to change the value equation. 2011, the Book Industry Study Groupwww.bisg.org 35 36. Thank you! For more information contact the BISG office at 646-336-7141 or [email protected]. 2011, the Book Industry Study Group 36
