Prabhat Khabar slashes cover price in Jharkhand to boost readership
Prabhat Khabar, a daily published from Jharkhand, Bihar and West Bengal, has reduced its cover price in the state of Jharkhand from Rs 4 to Rs 2.
Commenting on the decision to cut the cover price, KK Goenka, Managing Director, Prabhat Khabar, explained, “According to the latest readership survey, it was revealed that only 18-20 per cent of the people read a newspaper in Jharkhand. There is a huge untapped segment that is unable to read a newspaper because of the high cover price. Hence, we have reduced the price so that more people can afford to read a newspaper.”
The cover price in West Bengal and Bihar remains unchanged at Rs 3.
Meanwhile, Prabhat Khabar has also launched a campaign, titled ‘Ab padega poora Jharkhand’, to support this price cut. The group has earmarked a budget of Rs 50-60 lakh for the new campaign, which will mostly use the OOH and radio mediums.
Goenka further said, “The initial response has been very good and today, we have sold 3 lakh copies instead of 2.3 lakh copies due to the reduction in cover price. There has been no increase in the advertising rates yet, but we will do it eventually as advertisers begin to get a better response.”
Prabhat Khabar was started in the year 1984 and in Jharkhand alone has got four editions – Ranchi, Jamshedpur, Dhanbad and Deoghar.
Our typical marketing budget is usually 10 per cent of the topline spend