Times of India has dropped its cover price of Punjab edition to Rs. 1 on weekdays and Rs. 2 on Sundays. The move follows Hindustan Times, which had reduced its cover price last month. The price war between the leading English dailies TOI and HT has now gripped the other parts of North India too including Haryana and Himachal Pradesh.
When asked for reaction on this development by exchange4media, Mrinalini Gupta, VP-Marketing of Hindustan Times Group stated, "We reduced prices last month as part of our strategy to create higher product trial level. And we have been quite successful in gaining fairly large number of readers let's say in a market like Chandigarh which also includes neighbouring areas like Panchkula and Mohali. Mere reduction of price without good content doesn't serve the purpose. Ultimately content is king!"
After this fresh round of reduction, the weekly cover price of Times of India's Punjab & Ambala (called as late city edition) has come down to Rs.8 from the earlier Rs.12.40. In Chandigarh (which includes Panchkula and Mohali), TOI already has a cover rate of Rs.1.50 on weekdays and Rs.2 on Sunday. The Haryana & Himachal Pradesh edition of TOI offers the cover price of Rs.1.50 on weekdays (except Wednesday when the price goes up to Rs. 2) and Rs. 2.90 on Sunday.
With both Times of India and Hindustan Times slugging it out, the other heavyweight of the region Tribune need to watch out as both the giants are known for bleeding relentlessly to gain the upper hand in the market.