A Study on Pricing Strategies Adopted by Academic Book Publishers
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Abstract
The academic book publishing market in India has undergone a lot of change in recent years due to shifting market forces, technological changes, and changes in consumer behaviour. It also describes some major determinants of pricing strategies adopted by academic book publishers such as: production costs; market competition; the impact of digitalization; and changing consumer behavior and expectations, among others. Quantitative analysis of pricing data and qualitative insights from interviews with publishers are combined, as we have a mixed-methods approach for the study. The results show that Indian academic book publishers adopt value-based pricing, differentiating their products based on subject, author reputation, and the demand from educational institutions. In addition, digital formats have transformed the publishing landscape by diversifying pricing mechanisms, including subscription-based models and pay-per-view options, that further promote globalization of the industry. This study addresses the challenges and opportunities of pricing strategies as it can help not only book publishers but also present valuable assistance to policymakers and academia concerning the broader context of global publishing trends; particularly for Russia and emerging economies.