Hi people……. Today I have a topic to be discussed which is all about the Britannica.
To give an overview about Britannica: it has been present for 244 years in the realm of printed edition of Encyclopaedia with 32 thick volumes and also it has presence in the digital media. Now Britannica has announced that it will discontinue its printed edition and turn into a complete online service. http://www.britannica.com/
I have serious doubt why this company is not able to maintain its presence in both print and digital media?
Let’s not discuss this in terms of monetary and sales volume of the product.
The uniqueness of Britannica would be its print edition because it comes with 32 volume gold scattered with the leather binding which gives the pride to the shelves placed in any library and that would be its major differentiating factor from its competitor Wikipedia. But now it is trying to breakdown the heritage of the brand. Is this decision because of:
The Re-Positioning of the company, or
The changing trend of modern Internet, or
To compete with the competitor Wikipedia
Or any more reasons to list…
These would only be blind reasons because once it kills the print edition, it will be turned or perceived as one of the online encyclopaedia but it will not be seen as the brand Britannica, this is because the differentiating factor will be killed and their standards may be fail. Turning to online is conditioning people to a particular category and the Britannica lovers cannot find solace as what they would have felt in print.
I guess the company’s point of view towards the question would be concentration on the particular segment would give them the fresh look in the industry, because due to the change in proliferation of customer access through online and being a 244 years organization it wants more appeal towards the brand. But I don’t find this as a good strategy for Britannica.
So, how you see this decision of Britannica?
Hello santhosh it is really a nice topic to discuss with. I will say like they should be in both the online and offline also if they go for only online there is a chance of loosing most of their customers. In my point of view Book is one thing which i feel proud of having it with me in my cupboard and showing it off to others when they come to my home it is not possible when they go to online. In this case the Britannica's book look(Print) is their main power so everyone would like to show that they are reading Britannica it is not possible for anyone if they go online only. They should not come out of printed version. But i feel like why they are trying on online is they are making 60% above profit from their current online products so they feel like in future everyone will be turning towards online media so they are targeting online only. This is my view friend.
ReplyDeleteHi Santosh,
ReplyDeleteIts worth discussing on this topic. The product of Britannica is almost in death state now. Darwin theory could fit here most: “It is not the strongest that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” Now they have to change them self. From my personal experience I have access to bunch of Britannica and it have lot of information but I never used it for the simple reason usage of internet is easy and quick. Now my concerns are about how they are going to stand against Wikipedia??
Hi Santhosh.
ReplyDeleteIf a company wants to survive in a market:should update or innovate themselves,otherwise it will be nowhere like kotak.It is a right time to do this for Britannica; since lifestyle of people has changed a lot in erstwhile decade. Not much people are interested in going through Encyclopedia for collecting information. I have knowledge god Google, why should i spent money for buying book for this purpose. Even am not interested in carrying 5kg book along with me wherever am going.Even my small smartphone can do what Britannica do. I feel its time for Britannica to Change the game and get into digital media.
Yes My friends Sidhesh and Ragavan they need to change. But they are very good and they are known for their printed edition. May be we people are not buying the printed edition and using it, but they might have have some customers they are buying it only for their printed edition. Because 40% of their customers are not from online even now they are having demand for their printed edition in the ratio of 40:60. what is your opinion on this point of view?. My friends.
ReplyDelete