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Encyclopædia Britannica Sets Lower Price For Britannica CD 97
Strategy To Broaden Awareness Of Product Benefits
CHICAGO,05.08.1997
Encyclopædia Britannica, Inc. today announced it is setting the suggested retail price of Britannica CD? 97, its award-winning encyclopedia on CD-ROM, at $150. The product, which has been in price testing, was previously sold for $299.
For an additional $50 Britannica CD 97 customers also can subscribe to Britannica Online, which retails for $150 per year. Customers in the United States who wish to purchase Britannica CD 97 can do so by calling 1-800-747-8503..
Don Yannias, chief executive officer, said: "We are offering consumers more Britannica content for less cost. For a total price of $200 customers receive a CD-ROM that contains not only the content of our entire encyclopedia, but 2,000 articles that do not appear in the printed set, Merriam-Webster's Collegiate Dictionary, Nations of the World, and access to Britannica Online, which has more than 5,000 links to other high-quality Internet sites and a host of other features, including current events and special sections on subjects such as Black History, the Olympics and American Presidents."
Commenting on the price reduction, Yannias said, "Our recent consumer research gave us insights into what people think about our products, how they use them, and what they can afford. They confirmed many of our beliefs. People trust Encyclopædia Britannica. People who use our electronic products respond to the distinct benefits of Britannica CD and Britannica Online, which include:
- the sheer quantity and depth of information contained in our 44 million word encyclopedia
- the fact that it is presented in context, increasing relevance and usefulness
- ease of use. Our natural language search enables questions to be asked in sentences - such as "What are clouds made of?" -- rather than limiting queries to key words
Yannias said the company expects that many more people would buy Britannica CD at the $150 price. "The equation is simple. When people use EB products, they like them. At $150, more people buy them. A year ago we changed the way we sell our products, eliminating our in-home presentations and the costly infrastructure that supported it. The cost savings along with the expected increased sales volume make the more enticing pricing possible.
The new price also signals a more aggressive approach by Britannica toward becoming a leader in the electronic information market. "We have competitive products - with more in the works - and we want to get them into the hands of more consumers," said Yannias.
"People are responding to the way Encyclopædia Britannica is evolving in the electronic age. We fit well in both categories. We are expert on information, having accurately and comprehensively chronicled knowledge for 229 years. Our credentials in the electronic age have been less recognized. Nevertheless:
- We created the first multi-media encyclopedia.
- We were the first encyclopedia on the Internet.
- Our special Internet sites, such as the "The Britannica Guide to Black History," and the "The Britannica Sporting Record: Olympic Games," have won critical acclaim.
"Our emphasis on electronic products brings us a much broader audience. Our products - which make a wide variety of information available right from the desk top with a few key strokes - appeal to a wide audience, ranging from junior high-school students to senior citizens. Our new low price will make Encyclopædia Britannica within even closer reach."
Encyclopædia Britannica, Inc. publishes the most authoritative and comprehensive encyclopedia in the English language in three forms: Britannica CD™(on CD-ROM); Britannica Online®(on the Internet); and the famous 32-volume Encyclopædia Britannica®. The company is headquartered in Chicago and is located on the World Wide Web at http://www.eb.com.
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