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FUTURE OF RURAL MARKETING PRESENTED BY

FUTURE OF RURAL MARKETING PRESENTED BY SANCHIT SHARMA. Mr. Siddhartha Roy, Economic Advisor, Department of Economics & Statistics, Tata Group…. SAID.

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FUTURE OF RURAL MARKETING PRESENTED BY

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  1. FUTURE OF RURAL MARKETING PRESENTED BY SANCHIT SHARMA

  2. Mr. Siddhartha Roy, Economic Advisor, Department of Economics & Statistics, Tata Group…. SAID “A large part of the rural Indian market is under-penetrated and presents good opportunities.” “The Indian rural market has gone beyond consumer products and agri-input marketing. Total rural income, which is now at around $572 billion, is estimated to reach $1.8 trillion by 2020-21,”

  3. He further said that India’s retail FMCG market could grow from $10 billion presently to $100 billion by 2024-25. The rural market is now flush with funds, and, according to Mr. Roy, it “ needs to be tapped.” • Tata Teleservices wants to increase internet penetration and targeted value-added services to capitalize on increased mobile phone usage amongst rural households.

  4. PRODUCT STRATEGIES FOR RURAL MARKET • Carefully identifying gaps in the rural market (RIGHT PRODUCT) • Needs and demand of rural consumer might be contrasting to that of urban consumer • For instance, Kerosene or LPG gas stoves, where the flame can be controlled, are used for cooking in urban areas, while an open fire or ‘Chulha’ is used in rural areas. • Pressure cookers. • The prime objective is to design products to suit rural requirements. • Conventional wisdom on rural marketing states that the needs of the rural consumers are similar to those of the urban consumers.

  5. FEW STRATEGIC EXAMPLES FROM RURAL PERSPECTIVE • Small unit packing: Good chance of acceptance, Low price. • Shampoos, pickles, biscuits, Vicks cough drops in single tablets, tooth paste, Red Label tea Rs. 3.00 pack. • New product designs:Life style, think during new product designs. • PVC Shoes and chappals. • Sturdy/Strong products: Torch light dry battery cell. • Brand name: Nirmamade a ‘peelitikki’ (Yellow Bar) .

  6. KEY FACTS AND STRATEGIES: • India is an agro-based economy, more than 68% of India's population lives in villages and constitutes a big market for industry because of increasing disposal incomes and awareness level. • In comparison to just 5,161 towns in India there are 6, 38,365 villages in India. This in itself is an indicator where the real India resides. • Market is growing at a rate of 3-4% per annum. • To succeed in rural market, companies will need to adapt the 4Ps of marketing and the 4As in their strategy – awareness, access, availability and affordability. • Product For eg. Plastic sofa cum bed. As it would be light weight and foldable. Online firm can start awareness program for online shopping.

  7. Price Economy packs gaining share. Shampoos, soaps. • PlacePlace Challenge of reach will be addressed through innovation. Ex-Amway is already selling bio-fertilizers in rural India. • Promotion Understanding of Peak seasons, Communication Indian advertising industry has to be firmly grounded in rural perception, values and traditions Ex- Launched Coca Cola in Rs 5 with tag line “ThandMatlab Coca Cola”. • Market research: • Qualitative research required to know about preference, taste, attraction, life style etc. • Quantitative research to know market share , customer satisfaction.

  8. Consumer finance • Rural vertical - Companies will need to equip themselves, if they want to succeed in the dynamic rural market. Top management commitment would be absolutely essential. • IT models - Ease of access • Up-to-date content • Layout design, Easy navigation • Higher interactivity • Access through multiple media • Higher use of non-textual information • Multiple languages • Lower transaction cost. • Rural managers - As the rural market is already bigger than its urban counterpart, For this to happen rural marketing should be taught as a subject in every business school. • Glamorize rural marketing .

  9. Companies would join hands with the government in self- interest to increase the size. • Ex- In 2009, Karnataka planned to privatize the development of rural roads in the state. The state has around 1,50,000 km of rural roads that cannot be developed with only government funds. Hence, the state planned to develop these roads through public-private partnership. • e-rural marketing.

  10. POTETIAL AREAS • Agricultural Consultancies. • Travel and reservation (Kind of Tourism) • Automobile. • Healthcare. • Beauty Parlors. • Affordable movie theatres. • Low cost hotels, Restaurants, Dhabas. • Educational And career Consultancy. • Banking Assistances. • Online services assistance.

  11. THANK YOU

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