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Pricing Do's:

• Review your price and your competitor's prices semi-annually

• Be bold. If you are going to take your price up, raise it by at least 25 cents

• Raise your price with a thick issue

• Take it up with an issue that always sells well, like a special issue

• Raise it during Autumn--that way you get an "unbudgetted revenue" windfall

• Be sure you change the price on the masthead

• Be sure you get new UPC codes

• Be sure you change all circulation promotion material that refers to "savings off newsstand price"

• Be sure to alert your newsstand distributor well in advance

• Monitor sales post price increase, analyze, and plan your next move

Pricing Don'ts:

• Don't duck the issue. Magazines are undervalued. Evidence: How much did you last pay for a birthday card? People are willing to pay for a thick, information-packed book

• Don't be forced to take up your subscription price when you raise the cover price

• Don't appear defensive when a cover price increase is suggested by your publisher

• January issues are usually thin, so avoid raising your cover price at the beginning of a new year

• Don't be shy, if you are priced at $1.95 go to $2.25 then to $2.50 then take it to $2.95 then to $3.25 then $3.50 then to $3.95. If you have a great product, it will sell

• Don't be surprised if sales slip. The "theory of elasticity" states that if you raise your price by 10 percent, you'll lose 10 percent of sales

• Don't retreat and don't panic. Dropping your price is a sign of weakness. Wait it out--it may take six months for sales to normalize

• Don't brag. If newsstand sales remain strong post price increase, credit the editor and the editorial team for giving you a great product to sell

 
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