The American Nurses Association (ANA) retained McKinley to conduct research and apply sound pricing strategies to the organization’s four “Foundation publications,” which comprise 60-65% of ANA’s $2 million publications revenue. The principal buyers are non-member students, who buy the books most often through their college bookstores. Since the bookstores carry the books in response to direction from professors, the pricing process was a bit complicated.
McKinley assessed the real costs to produce the Foundation books and their actual prices on shelves and online, conducted research on price sensitivities related to these publications and an environmental scan to understand how different channels price ANA’s books and other similar publications, all to develop recommendations.
VALUE TO CLIENT:
ANA can now capitalize on the most promising opportunities and channels and has a custom framework for pricing the Foundation books and new products going forward.