Rural Marketing in India: Definition and Features of Rural Marketing Article shared by: Definition and Features of Rural Marketing!
|rural market||Introduction, Concept and Definitions Article shared by: Rural marketing is a process of developing, pricing, promoting, and distributing rural specific goods and services leading to desired exchange with rural customers to satisfy their needs and wants, and also to achieve organizational objectives.|
|Have you read these stories?||Rural India has emerged as an answer, owing to lack of strong presence by brands in most sectors as well as a high growth potential.|
|Challenges in Rural Market||Rural marketing in India is sometimes mistaken by people who think rural marketing is all only about agricultural marketing.|
|rural market: Latest News & Videos, Photos about rural market | The Economic Times||
Rural marketing is now a two-way marketing process. There is inflow of products into rural markets for production or consumption and there is also outflow of products to urban areas.
The rural market has been growing steadily over the past few years and is now even bigger than the urban market. More than million people live in villages of India. Thus, looking at the opportunities, which rural markets offer to the marketers, it can be said that the future is very promising for those who can understand the dynamics of rural markets and exploit them to their best advantage.
The haats are basically a gathering of the local buyers and sellers. The barter system was quite prevalent, which still continues in a number of places Rular india market today.
Haats are basically a weekly event, and are central to the village economy. The urban to rural flow consists of agricultural inputs, fast-moving consumer goods FMCG such as soaps, detergents, cosmetics, textiles, and so on. The rural to urban flow consists of agricultural produce such as rice, wheat, sugar, and cotton.
There is also a movement of rural products within rural areas for consumption. Features of Rural Marketing: The main reason why the companies are focusing on rural market and developing effective strategies is to tap the market potential, that can be identified as follows: Large and scattered population: The rate of increase in rural population is also greater than that of urban population.
The rural population is scattered in over 6 lakhs villages. The rural population is highly scattered, but holds a big promise for the marketers. Purchasing power of the rural people is on rise.
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 purchasing power of rural communities.
The rural market is growing steadily over the years. Demand for traditional products such as bicycles, mopeds and agricultural inputs; branded products such as toothpaste, tea, soaps and other FMCGs; and consumer durables such as refrigerators, TV and washing machines has also grown over the years.
Low standard of living: The standard of living of rural areas is low and rural consumers have diverse socio-economic backwardness. This is different in different parts of the country.
The rural consumer values old customs and traditions. They do not prefer changes. Gradually, the rural population is changing its demand pattern, and there is demand for branded products in villages.
The marketing mix elements are to be adjusted according to the requirements of the rural consumers.The rural market in India generates bigger revenues in the country as the rural regions comprise of the maximum consumers in this country.
The rural market in Indian economy generates almost more than half of the country’s income. The rural market has been growing steadily over the past few years and is now even bigger than the urban market. About 70 per cent of India’s population lives in villages.
More than million people live in villages of India. ‘Go rural’ is the marketer’s new slogan. Today rural marketing magazines providing news of Agriculture marketing in India, list of agriculture marketing magazines subscriptions in India, news of agriculture trade magazines, rural marketing companies and agriculture marketing products India.
Read article about Indian Urban Market & Rural Consumer Market in India – Research Paper: As per the associate chamber of commerce, the rural consumer market is booming with urban market.
and. The rural market in India generates bigger revenues in the country as the rural regions comprise of the maximum consumers in this country. The rural market in Indian economy generates almost more than half of the country’s income.
Market research firm Nielsen expects India’s rural FMCG market to reach a size of US$ billion by Another report by McKinsey Global Institute forecasts the annual real income per household in rural India to rise to per cent , from per cent in the last 20 years.