This month's launch of the new format, fractionally larger than an A4 size, follows an earlier initiative by Cosmopolitan to target the 20- to 25-year old female demographic with a compact edition that is 20 per cent smaller and a cover price of HK$25 (US$3.20), to the larger version's $40.
One Media Group, which publishes MPW, will however retain its cover price of $15 for both editions. Marketing director Sandy Ho said the group launched the smaller format to broaden its appeal with the late 20s to early 30s market of young executives.
"Our research has shown than younger readers prefer a smaller format as it is easier to handle and carry around," said Ho. "The smaller format gives our readers more flexibility and choice to select the size they like."
Cosmopolitan's sales director Cynthia Choy said the decision to introduce a compact edition in January this year, with a cheaper rate card, has paid off. The SCMP-Hearst title more than doubled its print order to 22,000 copies for the August issue.
However, One Media will only have one rate card for both sizes. "The new version will be printed in addition to our original circulation, which means we are providing additional exposure for advertisers at no cost," Ho added, but declined to reveal the number of compact copies which would be printed.
Moving to a smaller format was not undertaken lightly because of the title's 36-year heritage, with the publishers weighing the risks, according to Ho. The worry of alienating long-standing customers who prefer MPW in its original 35.5cm x 25.5 cm specification prompted One Media to retain the larger format.
Media agencies also pointed to another dilemma. "The large size format is one of the reasons advertisers use the magazine," said K K Tsang, MindShare Hong Kong chief executive officer. "A lot of luxury brands like the format, and clients think the large size can project a prestigious image. If a lot of readers switch to the small size format, it will lessen the effectiveness of the ads."
Minor editorial changes have been made as part of the compact's launch -- pop singer Sammi Cheng has been signed on as a star columnist.
One Media is backing the compact's debut with a $3.5 million outdoor and radio push, as well as media opportunities afforded by the group's other titles, and with roadshows and a lucky draw.
