This caselet gives an overview of product differentiation and product innovation strategies used by Outlook Publishing India Ltd (OPIL) to gain a foothold in the magazine market. It discusses OPIL’s effort at reaching out to different segments of society. Finally, it examines the promotional tactics used by OPIL to gain customers.
- Importance of design and formatting in magazines.
- Â Opportunities for diversification in magazines.
- Role of culture in improving readership
- Effect of promotion on sales of magazines.
| Hathway Investments Private Ltd., a Raheja Group company, ventured into the print media industry with their weekly newsmagazine, Outlook, in October 1995. They provided detailed investigative articles that created an interest among readers and helped its growth levels. |
In 1998, they introduced Intelligent Investor (later renamed Outlook Money). In subsequent years, they brought out other magazines like Outlook Traveler and Outlook Saptahik.
In 2003, in a move to separate the publishing business, Hathway Investments set up Outlook Publishing India Ltd., (OPIL) to manage all their publications. By 2004, Outlook magazine had developed a readership base of 1.5 million readers and sold 11.2 million copies a year.
Questions:
- What role did marketing strategies play in helping Outlook Publishing India Ltd (OPIL) in scaling great heights within a short span of ten years?
- Â Product alone does not guarantee continued success in an industry. How far have price and promotional campaigns helped OPIL gain ground in the magazine industry?
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