More confusion over Community Pricing strategies

Page 1 of 1 (9 items)
This post has 8 Replies | 2 Followers

Posts 9673
Forum MVP
Bruce Dunning | Forum Activity | Posted: Tue, Jan 29 2013 4:27 AM

We've talked about this in the past and here it is again. Can someone please try to help me understand that pricing strategies behind the latest two Community Pricing books?

The Works of Aristotle (12 vols.) 5,371 total pages with the lowest possible bid of $50

Recensio Synoptica Annotations Sacrae (9 vols.) 6,150 total pages with the lowest bid of $30

I just can't grasp the why behind this strategy. In the past it has been suggested that the total pages is the main key because of the work needed to convert them into a Logos resource but the higher number of pages has a lower starting bid that the one with less pages.

I may not agree with the strategy but I just don't understand it. At a minimum the Works of Aristotle should have a $30 lowest bid although I think both resources should have a lowest bid of $20. Personally I bid on almost all of the Community Pricing resources but it is difficult to do so when things seem so inconsistent to me.

Can someone please try to bring some understanding here?

Using adventure and community to challenge young people to continually say "yes" to God

Posts 29934
Forum MVP
JT (alabama24) | Forum Activity | Replied: Tue, Jan 29 2013 4:57 AM

Bruce Dunning:
In the past it has been suggested that the total pages is the main key because of the work needed to convert them

I think that answer is a simplified view. I think a better answer is that Logos assesses the cost to produce a resource, which includes many factors. Page count is only ONE of those factors. Logos has responded to these kind of threads from time to time. A higher price may well indicate a higher production cost.Furthermore, Logos has to make an educated guess at the interest level of a resource. I know that Logos also looks at what has happened historically.  As counter intuitive as it may seem, I would expect that less "popular" resources may sometimes have a higher threshold than more popular ones because Logos assumes less users will be bidding.

I have no idea about the pricing on these items, nor how long they have been around on CP. Aristotle looks like its around 20%. If Logos were to lower the bottom line to $25, it would take twice as many bidders to hit that mark. 

 

http://www.logos.com/product/29737/the-works-of-aristotle

http://www.logos.com/product/29735/recensio-synoptica-annotations-sacrae

macOS, iOS & iPadOS | Logs |  Install

Posts 11433
DMB | Forum Activity | Replied: Tue, Jan 29 2013 6:33 AM

I know (as usual) this comment will appear 'negative' but I suspect Logos has a significant 'iron in the fire'. The story that they produce whatever the users 'vote' for might be true a good portion of the time. But I notice sometimes they give a little 'umph' to some (i.e. 'get her done').

Now ignoring cost to produce, and with so many 'greeky' people in their customer base and potential customer base, one of the two would likely benefit from a heftier starting point.  Kind of like a horse race, with 'richer' investors.

The contra-argument is that the higher priced one is 'who cares' (those greeky people will buy anything), and the lower one is  'lets see if we can get more latin'y ones out there for sale'.

The third argument is more mondain. They've got so many with so many possible CPs, PPs, and existing resources. Who remembers??

I'd hope it's the second.  Logos needs to 'fill in the blanks' on a lot of what was written during those 'silent years' (the famous Logos resource 'everyone' seems to have bought with their 'other' purchase).

"God will save his fallen angels and their broken wings He'll mend."

Posts 17
daniel paul christie | Forum Activity | Replied: Tue, Jan 29 2013 11:09 AM

They have now brought down the lowest possible bid to $10 for the Aristotle collection. They did something similar earlier with the Plato collection, as it started at $20 for a minimum bid and then they dropped it pretty quick to $10.

Posts 9673
Forum MVP
Bruce Dunning | Forum Activity | Replied: Tue, Jan 29 2013 11:20 AM

Daniel Christie:

They have now brought down the lowest possible bid to $10 for the Aristotle collection. They did something similar earlier with the Plato collection, as it started at $20 for a minimum bid and then they dropped it pretty quick to $10.

Although I agree with this action I am shocked that they have changed this. Could someone from Logos please explain what is going on behind the scenes?

Using adventure and community to challenge young people to continually say "yes" to God

Posts 11433
DMB | Forum Activity | Replied: Tue, Jan 29 2013 12:00 PM

Realistically the change didn't do anything; Logos is simply setting the 'bid' price, just as it does for pre-pubs (but play like a 'bid').

It's exactly what they do for pre-pubs where there no publisher holding the reins.

So ... Aristotle for $50.

"God will save his fallen angels and their broken wings He'll mend."

Posts 9673
Forum MVP
Bruce Dunning | Forum Activity | Replied: Tue, Jan 29 2013 12:11 PM

DMB:

Realistically the change didn't do anything; Logos is simply setting the 'bid' price, just as it does for pre-pubs (but play like a 'bid').

It's exactly what they do for pre-pubs where there no publisher holding the reins.

So ... Aristotle for $50.

Unless Logos users big lower to force the bid down, but I fear that the price will be $50 because that is how the momentum was set. I think that it would have been different if they had the lower bid options from the beginning.

I would still love to hear a transparent response from Logos on this.

Using adventure and community to challenge young people to continually say "yes" to God

Posts 205
LogosEmployee
Kent Hendricks | Forum Activity | Replied: Tue, Jan 29 2013 12:20 PM

Remember, you set the price by bidding on the highest price you would be willing to pay. We try to make an educated guess about where the price will emerge.

In most cases, we usually get pretty close. But in other cases, like Aristotle, we get it wrong. In this case, we have less of a history producing products like this. (We've produced lots of commentary sets, so we have a better idea of what price the community is likely to pick for a commentary.)

With every product we post, we watch the graph fairly closely in the few days after we post a product, and adjust the graph around based on what prices the community seems to select. This is why the lowest price for Aristotle is now below $50.

We also regularly keep an eye on older pages, too, and adjust the graphs in response to the price the community seems to be preferring. For example, we just adjusted the intervals from $10 to $5 on the Preacher's Homiletic Commentary, because it's looking like it will cross at $40 very soon, and smaller intervals give the community a better shot at driving the price down as soon as it crosses.

Posts 9673
Forum MVP
Bruce Dunning | Forum Activity | Replied: Tue, Jan 29 2013 12:30 PM

Thanks for the explanation Kent. When you change the price is there a way for users to know? The reason why I ask this is that I don't regularly go back over all previously listed resources to see if prices change. It would be nice if this were announced somewhere.

Using adventure and community to challenge young people to continually say "yes" to God

Page 1 of 1 (9 items) | RSS