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Rural Marketing

 

Are Rural Markets really Attractive?

Created by : Vipin Tripathi, Sales/BD Manager, Target  | 11 30 2008 12:44:43 +0000
Industry : FMCG/Foods/BeverageFunctional Area : India(Markets)
Keywords : Really Rural Markets Profitability Attractive Distribution Cost Fragmented Markets
Activity:  532 views;  last activity : 03 24 2011 06:18:44 +0000
From the strict marketing point of view, the market structure in India is dichotomous having rural and urban markets.  But many do not concur with this view as they contend that consumer everywhere is a consumer and hence their needs, aspirations, beliefs and attitudes will also be the same
  
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The overall growth of the economy has resulted into substantial increase in the purchasing power of the rural folksm,this presents a tremendous growth oppertunity in the rural market.Trends indicate that rural markets are coming up in a big way and growing twice as fast as the urban. Rural market consists of India's 60% population of overall population and oppertunities which are hitherto untapped. Different programs run by the central as well as state government helped to increase in the standard of living and consumption level of rural people. Besides this, the intense competition in urban areas made the urban market saturated and compelled the companies to go rural. The propellers for the growth of rural market oppertunities inclde government initiatives and schemes, effect of social media, infrastructure development, industry projects across the country and emphasis on local-employability.
   Rural Indian are developing desire for packaged foods, personal care products, consumer durables and IT products, two and four wheelers and fashion accessories. Over the last decade some consumer product companies have recognised the potential of rural market and invested time and resources to tap into this oppertunity, understanding and segmenting the consumer based on their spendings and lifestyle.
    These statements are enough to prove that Rural markets are really attractive in Indian perspective.
By shailesh , B.B.A student, kumaun university, ssj campus almora  03 23 2011 01:41:48 +0000
 
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Sailesh I agree with your point of view. There are in excess of six lakh villages in India and they are the future.

So who ever focus on rural market will come out as a winner in long run.
By Rathin Deb, Freelance Retail Consultant  | 03 24 2011 06:18:44 +0000
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Rural markets have always been the final frontier for marketers-remote, little know
Market
n and sometimes forbidding. Confidently familiar with buying habits and preferences of urban consumers, most brand owners falter when it comes to grappling with the last mile in the consumer goods (and services) value chain. Help is at hand, though.
By Ajit Khan, Sales/BD Manager, Future Group  | 11 30 2008 12:47:21 +0000
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Adding on to Mr Vipin Tripati,,,rural areas are consuming a large quantity of industrial and urban manufactured products. In this context, a special marketing strategy, namely, rural marketing has taken shape. Sometimes, rural marketing is confused with agricultural marketing – the later denotes marketing of produce of the rural areas to the urban consumers or industrial consumers, whereas rural marketing involves delivering manufactured or processed inputs or services to rural producers or consumers.
By Souvik Karmakar, Sales/BD Manager, Reliance Retail  | 11 30 2008 12:46:07 +0000
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yes ofcourse, The rural markets are estimated to be growing fastly compared to the urban markets.  The potentiality of rural markets is said to be like a 'woken up sleeping giant'.  These facts are substantiated in a study of market growth conducted by various researches. In recent years, rural markets have acquired significance in countries like China and India, as the overall growth of the economy has resulted into substantial increase in the purchasing power of the rural communities
By Vipin Tripathi, Sales/BD Manager, Target  | 11 30 2008 12:44:43 +0000
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Rural markets is not attractive as such. Various factors add to it like low income, Poor education, mindset breakage etc. A diff approach n stratgey is required to make the market attractive as there is greater potential once the initila barrier is broken. Good example is HLL.
By Prarthana , Business Analyst  | 12 12 2008 07:22:24 +0000
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Traditional mind not to react new ideas.
- Agricultural income mostly invested in gold ornaments and weddings.
- Low rural literature.
- Not persuading new thinking and improved products
By Mitesh Gupta, Sales/BD Manager, Reliance Retail  | 11 30 2008 12:51:34 +0000
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I would say  no,, I understand that there is an opportunit, but the intial fixed cost to acquire  customers , establish platforms,,takes time, Nearly 50 percent of the villages in the country do not have all weather roads. Physical communication to these villages is highly expensive. Even today, most villages in eastern part of the country are inaccessible  during monsoon season,,,,,A large number of rural families in own radios and television sets there were also community radio and T.V sets. These have been used to diffuse agricultural technology to rural areas. However the coverage relating to marketing is inadequate
By Shishir Srivastava, Sales/BD Manager, Reliance Retail  | 11 30 2008 12:50:42 +0000
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