In-App Product allow you to create standard In-App Product (one time billing) for each issue or subscriptions (recurring, automated billing) for subscriber subscription.
1. Login to your developer account https://play.google.com/apps/publish
2. Go to your "All Application" and select the application
3. In the Application menu select "In App Product"
4. Click on "Add New Product"
5. The new Add Product pop window 3 choices:
Subscription | Subscriptions let you sell content, services or features in your app with automated, recurring billing. |
Managed Product |
Managed items that can be purchased only once per user account on Google Play. Google Play permanently stores the transaction information for each item on a per-user basis. |
Unmanaged Product |
Unmanaged products are not managed by Google Play. You are responsible for managing the transaction information and cannot query Google Play to retrieve transaction information. |
Create a Subscription
It is strongly recommended that you read the following google documentation before setting up a subscription:
http://developer.android.com/google/play/billing/billing_subscriptions.html
https://support.google.com/googleplay/android-developer/answer/140504
a. Create a subscription in the Google developer console
1. Select "Subscription"
2. Create a product ID following Google guideline
3. Fill up subscription details
For more details go to "Adding items one at a time to a product list" section of the link below
http://developer.android.com/google/play/billing/billing_admin.html
4. Save
b. Set your subscription on the AppStudio android build form
Managed Product
For Example: Price of May 2014 issue
1. Select "Managed Product"
2. Create a product ID following Google guideline