Daily Texan Staff
Bigwords.com, an online textbook retailer known for its unique marketing techniques like bouncy balls and yellow jumpsuits, went out of business two weeks ago, but others are still going strong.
The company's Web site now reads "Bigwords.com succumbed Friday, Oct. 20, to the powers that be."
John Bates, co-founder and self-titled "chief evangelist," said the downward spiraling stock market had much to do with Bigwords.com's failure.
"In terms of marketing, we spent far less than anybody and were in the lead," Bates said, adding that raising enough money to sustain the company was difficult.
Bigwords.com may also have faltered because of their nontraditional methods of advertising.
Doug Alexander, vice president for strategic planning and development at eCampus.com, another online textbook retailer, attributed his company's success to using more traditional marketing techniques that are different from Bigwords.com's word-of-mouth campaign.
"We market on television, in college newspapers, at the cinema, on local radio stations and online," Alexander said.
Having a strong foundation, a knowledge of the textbook industry, of the college market is the formula for success, Alexander added.
Defending their marketing practices, Bates said Bigwords.com was familiar with college students, including recruiting college students as marketers.
"Behind that bouncy ball and jumpsuit, we had respect for our audience," Bates said in defense of Bigwords.com. "I call it showing up, personal interaction."
Sridhar Balasubramanian, a UT assistant professor of marketing, said whichever company can offer the lowest price will get the sale, adding that in the textbook industry, price is the bottom line.
"Your nearest retailer is just a mouse click away," he said.
George H. Mitchell, president of the University Co-Op bookstore, disagreed, saying that convenience is more important than price in swaying students' buying choices.
"It's the convenience that we have and us having an honest organization," Mitchell said.
A local bookstore is an easy way to do book exchanges and is more convenient than an online seller, Mitchell said.
He added that about 20 percent of students exchange their books during the first few weeks of classes. Additionally, when selling back books, getting cash immediately is better than waiting for it to be reimbursed online, he said.
Mitchell said the future of bookstores lies in those who use technology in conjunction with their physical retail location, using Barnes & Noble Booksellers, which also has an online retail service, as an example.
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