We have reached a milestone with our first children’s board book – “God loves you so much…”.
It is time to set the retail price so the covers can be finalized and the book can go to the printer. Yes, we are getting close!
As a result, I have been doing some additional market research and attempting to determine an appropriate price.
Without boring you on the details of the process, I thought I would share some of my observations:
- Board books are more expensive to produce, but typically command a lower price than standard hardcover books and even some paperbacks
- Many board books sell in the $5.95 to $8.95 range with a few retailing above $10.
- If it is true the price we are willing to pay is an indication of how much we value something, does that mean we value…
- a greeting card as much as a board book?
- a medium pizza (with one topping) the same as two board books?
- a G.I. Joe with King-Fu Grip more than ten board books?
- a burrito (on a stick) about as much as a small board book?
I realize that this probably sounds like a complaint, but that really is not the intent. The reality is that some market forces significantly impact the price-value relationship and that seems especially true in the market for children’s board books.
So, the next time you find an “overpriced” children’s book, please take a moment to consider the value derived and compare that with similarly priced products.
