Keeping up its originality, The Hindu Business Line – the only white frontline business daily, has refused to go by the trend of pink newsprint and stick to its own colour in the latest venture in Mumbai market.
Launched on the April 27, the new entrant in the financial capital of Mumbai, Business Line aspires to pocket marketshare from Business Standard and The Financial Express and get established in the market with good, serious and focused content. So, how has the market taken to the debutant?
Says Akila Urankar, President, Business Standard: "We have been established as the second largest business daily, even after being the third or fourth paper to be launched in that market. We believe we will hold onto this position and have no difficulty in doing so, as we are ahead of Business Line in New Delhi where they have had an edition for years and similarly in Hyderabad where we launched an edition just a few years ago."
The Financial Express is the other contestant who can expect some heat from the new entrant. "With an edition in Bombay, the financial capital of the country, Business Line will now be considered in the league of national dailies. However, the drawback that Business Line faces is that the readers are more comfortable with a pink business daily and a white one has low acceptance level amongst readers of financial newspapers," observes Amit Goel, Brand Manager, Financial Express.
With Business Line joining the financial dailies segment in the city, options have
increased for the advertiser. What are the mechanisms involved while juggling four financial dailies and how do they view the new vehicle on the track?
Says Gagan Banga of India Bulls: "It is interesting to have another financial daily, though Mumbai is quite a well-covered segment. For any new player to be accepted it would have to get a new perspective or maybe a more in-depth view and analysis on the regular issues as compared to the existing publications."
Adds Manajit Ghosal, CFO, Mid Day Publications: "Business Line is the last option for us while working out a media plan, strictly on the basis of readership. For a new entrant in the market, it is crucial that he works upon bagging mindshare before getting into the number’s game. Reliability factor for Business Line news being high, it can win mindshare on that basis. Also, a strong sampling technique is required as a true-blue impact will come purely from contact with the reader."
Many advertisers are of the opinion that there are other benchmarks, besides numbers, for measuring the effectiveness of a publication. A media vehicle might have a high repute within certain segment of readers and yet may be low on numbers.
"Numbers are not the only criteria in a media plan. Business Line will be considered in instances where an advertiser is looking at targeting a specific category and not applying the carpet-bombing technique. Though Economic Times has a wider reach and the numbers in the offing are much bigger, Business Line will add to its competition. Business Line will enter the picture when the advertiser is considering a hard nosed financial daily," explains Shashi Arora, Senior VP - Marketing, Kotak Bank.
While Business Line has a long way ahead before talking numbers, reliability is one area where it is finding ready acceptance with certain sections of the industry. Will the white be able to make its mark in a field of pinks is something we will have to wait and watch.