Wednesday, February 17, 2010

Why does saving money always cost more in the end?

Just the other day I got a copy of an advertising text in the mail. It is an updated version of a book I have used for years.
I was surprised to find 775 pages punched for a binder and no cover. The "book" was wrapped in plastic and ready for me to supply my own binder.
I e-mailed the publisher, McGraw-Hill, to ask what was up about the new book. I was told that all copies of the book, for students and faculty, are now being published that way to save money. Now get this, the coverless copy will"net" for $81, according to the McGraw-Hill rep. The former edition of the book, with a hard cover, had a "net" of $145.50.
As an author who has written four books, I know a little about publishing. After writing my first book, I formed my own publishing company to save money on printing costs. Every printer I have used can supply hard covers for $10 to $12 per book.
Here is the real kicker, though. The McGraw-Hill rep told me that the whole purpose of the change was to save students' money by offering a book with no cover.
The campus bookstore will not buy that book back at the end of the semester.
Why?
Will some of those 775 pages students must supply a binder for after spending $81, become damaged, soiled or lost during the course of a semester? It is possible, perhaps even likely.
I also cannot imagine that someone in the bookstore would spend the time necessary to look through all 775 pages to be certain they are there before buying the book back.
Simple fact is that books without covers will mean an end to used books. Students may pay less for the new book but they won't be able to sell it back for any price.
Will that be a net savings for students? I seriously doubt it.
Another colleague of mine has predicted the end of all books within the next five years or so.
A downloadable version of these 775 pages should be much cheaper than $81. Slap that onto an iPad and we would all be set for class.
I really have to wonder, though, why a basic book on advertising requires 775 pages.
Maybe the attention span of students is longer than I thought.

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