The Story of 4LTR Press Steve Scoble, Sr. Acquisitions Editor Cengage Learning/South-Western February 2009 Pittsburgh Faculty Group

4LTR Press The Story “All Books are the Same” –Too Long –Too Expensive Faculty: Students Aren’t Reading – Not Prepared – Not Buying the Book Back to Basics for Faculty and Students New Approach: Reach out to Students First

MKTG Student-Tested: Two Rounds Round 1: “Conversations” –8 Student Focus Groups – Spring ’06 –Understand Students’ Learning Patterns and Motivations Round 2: “Show & Tell” –10 More Focus Groups – Summer ’06 –Quantitative Data about Specific Learning Materials

MKTG Round 2 “Show & Tell” Fifteen Unique Learning Materials/Aids –PRINT “Long” chapters “Short” chapters Flash Cards Review Cards –DIGITAL Online Quizzing MP3 Downloads – Three Different Styles Video/Flash Files Cell Phone Downloads – Three Different Styles eBooks/iChapters eLectures “LiveInk”

MKTG Student-Tested: What They Said… Textbooks Too Expensive and Too Long Look to End-of-Chapter/Bold Terms Cram Night Before or Morning of Test Keep it Simple: Technology & Print

MKTG Student-Tested: What They Said … Top Three Study Choices = Print-Based “Short” Chapters Review Cards Flash Cards

Learning Aid Ratings Principles of Marketing Course

Customer Requirements – Faculty & Students Core Content /Length Accessibility/Design Appeal Learning Styles/Efficiency Value

MKTG The Solution A 350-page Paperback –19 Chapters derived from Lamb/Hair/McDaniel –Includes All Learning Objectives, Key Concepts, and Terms –“Chapter in Review” Summaries –Published Annually –$54.95 Suggested Retail Price Online Technology Assets –Online Quizzes –Audio/MP3 Downloads –Flash/Video Downloads –Cell Phone Quizzing –Printable Flash Cards (in Three Formats)

MKTG Instructor Support What’s Included… –Instructor’s Manual –Test Bank –PowerPoint –Videos –Web Site w/updated news –Instructor Prep Cards –Audio Chapter Overviews –Course Management for WebCT & Blackboard –And More…

Textbook Pricing Models New Textbook Pricing Model –Student Purchase Price - $170 –Student Sells Book Back for $85 –Net Cost (“Rental Fee”) = $85 Used Textbook Pricing Model –Student Purchase Price - $120 –Student Sells Book Back for $36 –Net Cost (“Rental Fee”) = $84

Developmental Feedback What is your reaction to the student research? What is your reaction to the content changes? How might these changes apply to Intermediate Microeconomics? What is your reaction to the design?

Developmental Feedback What do you think of the 12 month publishing cycle? Are there some economics concepts that could be better presented with annual/current data? Are there digital tools that could be better utilized – websites, calculators?

Developmental Feedback What are your thoughts on the pricing model? $59.95 is universally attractive? $69.95? $79.95?

Developmental Feedback Based on what you have seen, is this a product you would consider adopting once released? Why or Why not?