27-02-2013, 03:01 PM
Rural Marketing a Boon to Indian Marketers
Rural Marketing.docx (Size: 109.5 KB / Downloads: 24)
Marketing includes the activities of all those engaged in the transfer of goods from producer to consumer—not only those who buy and sell directly, wholesale and retail, but also those who develop, warehouse, transport, insure, finance, or promote the product, or otherwise have a hand in the process of transfer. It is estimated that the cost of marketing accounts for approximately 50% of the retail price paid for a commodity.
Much of the marketing activity and product development was concentrated on Urban and affluent class, which is only the tip of an iceberg and as identified by C K Prahlad much of the market potential is still available at the bottom of the pyramid (BOP).
The real challenge is how to make this market accessible sustainable and profitable. The reality was brought by different corporate as identified in this paper by creating the consumer capacity in different forms and adopted in different manner depending on the nature of product and other environment factors.
The result was astonishing which gave mutually rewarding strategy solution by the creation of consumer capacity which is a three dimensional win-win strategy creating a new market empire for corporate, the new path for the consumer to reach products of convenience and lifestyle and finally sharing the national issue of providing employment to the most/last common man, utilizing the huge SHG infrastructure created by the government for a mutually rewarding customer corporate and government
The highlights of this paper may be highlighted as follows:
• Marketing in its form of modern marketing has gained its complexities through its structure, strategies, in its efforts to serve people of diversified preferences, disposable income and other demographic operating variables
• Competitive environment makes it more complex through its innovative Strategies
• Marketing is concentrated only to the Urban and affluent market, which is only the tip of the iceberg and much, lies in the bottom of the pyramid.
• Rural Market is still an unexplored area.
• The real challenge is to understand the secrets of the underlying concepts of rural market, which has kept it still inaccessible.
• Some astonishing data revealing rural market is still an untapped high potential market.
• The success strategies of quite a few companies, which made rural, market an accessible market.
• Some points to make modern marketing a successful tool of revenue realization and realization of corporate objectives.
• The Customer oriented market and CRM (Customer Relation Marketing) the mantra of modern marketing.
Marketing
Marketing originated first time at the advent of Industrial revolution, which paved the way to exceed demand at a particular geographical location by mass production. It took the journey of the concepts of production (pull push mechanism), promotion (push pull mechanism) and customer oriented production and marketing (Pull and push mechanism). Marketing includes the activities of all those engaged in the transfer of goods from producer to consumer—not only those who buy and sell directly, wholesale and retail, but also those who develop, warehouse, transport, insure, finance, or promote the product, or otherwise have a hand in the process of transfer. It is estimated that approximately 50% of the retail
price paid for a commodity is made up of the cost of marketing.
Evolution of Modern Marketing
Modern Marketing took its shape through organized network when marketing was addressed to the diversified needs of people at large of different geographical regions. Segments by geographic, demographic, psychographic and sociographic with several culture, subculture and cross-cultural influences through manufacture of different products of preferences, price, values and channels of distribution etc.,
It is by this Modern marketing became highly complex in nature. By the term modern marketing we often misconstrue with marketing with urban markets. It is often found much of the marketing was targeted to urban community and affluent class but much of the potential is still with the bottom of the pyramid (the opportunity) and rural market is still an unexplored area, which we will explore in this paper. As per year 2000 statistics the urban population was said to be 300 million and 750 million in rural ie.72 % population still dwells in villages.