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ICBA 2011 Dynamic Pricing Panel,[object Object],James Howard,  Academic Materials Manager,[object Object]
Quick Context….,[object Object],OSU Bookstore: ,[object Object],[object Object]
Bookstore has non-profit status - 501(c)(3)
Textbook operation is “cost-recovery”
Discounts at point of purchase 10%
Realizing a 17% margin after discount
Conduct own end of term buyback – no contract buy
Retain up to 60% of wholesale buyback purchases for future term use
Inventory control system allows for decoupling New and Used pricing
One buyer determines both New, Used and buyback quantities,[object Object]
Buyback prices exceeded online offers,[object Object]

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Icba 2011 Dynamic Pricing Panel (2)

Editor's Notes

  1. Time and labor to execute dynamic pricing needs to be manageable, not overly onerous
  2. Based on occasional reviews (survey course titles, large adoptions)40-50 of titles chosen Bookstore is as good or slightly better than marketplaces on 50% of titles – Within $5-$20 on 30% - beaten by more than $20 on rest
  3. Through wholesale and buyback purchasesTightening margins on used invoiceBuyback price based on used price Buyback price 10-20% less than half newBuyback driver to reduce prices
  4. Title by title approach – since only targeting certain titles and, early on, there weren’t any macro-programs available or comfortable with
  5. Just a snapshot of the 100+ titles thus far slated for Spring term ‘11 starting in March