OUGD601 / Context Of Practice / Practical / Costs and Considerations

COST.

The cost of each issue is going to be key variable in the success of launching the platform; without advertisements and the use of HP Indigo variable data printing services the cover price will be higher than the commercial competitors.

This has been discussed thoroughly in the writing and synthesis documents, with a higher cover price, the question has to be asked ‘why would anyone spend £XX amount on a printed publication?’. The ethereal attributes of print, the personalization of the product and the relationship created through prosumption is hoped to compensate for this. Building upon such attributes creates a product that is more than a normal monthly, bi-monthly or seasonal product, it’s ethereal attributes create a product more than this, a product to continually interact, to treasure, to archive – the development of promotion strategy in order to achieve such positioning within the market is to be key for the viability of the platform.

ESTIMATE.

With the target audience:

‘Agenda, politicized individuals relate to the ideology behind the creative work and creative inclined students, professionals relate to the visual culture content. A strength of allowing the consumer to curate their content grants a wider target audience through option.’

This isn’t to be placed as a budget item, with such privilege of curation and individuality DIET believe a medium to high cover price will be viable and considered worthy by its prosumers. The cheapening of the cover price will occur with the development of the technology and coherently with the platform.

START UP COSTS.

The platform has been set up with consideration of the difficulties independent publishers occur (Appendix A), it is for this reason the platform has adapted in order to occur minimal start up costs:

-       Print On Demand services allow DIET to receive payment before printing so that the initial cost of stockpiling is transcended. (Appendix B refers to the traditional method in which the need for the sale of car was necessary to fund the initial print run)

-       With content created and curated by prosumers allows DIET to reduce or dismiss the initial need for employers. Contributors are paid on a commission basis regarding the amount of times their article/content is selected. This again allows DIET to transcend initial contributor commission fees.

-       DIET will need to initially pay for the creating of a website and the software in order to allow an online curation to print process.

-       Advertising is too necessary for the launch of the platform; the platform’s strategy lends itself to natural promotion through the promoting of contributors – in turn benefiting themselves through sales.

After speaking with the account manager of People Of Print’s variable data printing as mentioned previously, a defined estimate per issue cannot be given until production. Consideration of similar independent publications is then to inform a price point of the product however due to the lack of products of similarity to DIET’s an informed estimate will vary. In consideration of products that exaggerate print’s ethereal attributes, as similar to DIET’s intent, a price point between £15-£25 is to be aimed for, we believe a price point between these figures is justified and especially viable for the 18 – 35 year old target audience.