changing trends of marketing in rural marketing
TRANSCRIPT
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Rural marketing
Rural Markets are defined as those segments ofoverall market of any economy, which are distinctfrom the other types of markets like stockmarket commodity markets or Labor economics.
Rural Markets constitute an important segment ofoverall economy
Function that manages all activities involved inassessing stimulating and converting the purchasingpower of rural consumers into effective demand for
specific product and services to create satisfactionand a better standard of living for achievingorganizational goals
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Rural Population
They are homogeneous in nature.
The Rural population is nearly three times the
urban.
The rural India comprises several castes andtribes.
The literacy rate is growing
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What Makes Rural Markets
Attractive? FMCG Rs. 65,000 cr
Durables Rs. 5,000 cr
Agri-Inputs (tractors) Rs. 45,000 cr
2 / 4 Wheelers Rs. 8,000 cr
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CONT
In 2001-02, LIC sold 55% of its policiesin rural India.
20 million Rediffmail sign-ups, 60% are
from small towns. 50% of transactionsfrom these towns are on Rediff onlineshopping site.
42 million rural households (HHs) areavailing banking services in comparisonto 27 million urban households
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Strategies for Improving Marketing within
Rural Areas
1.Product strategies
2.P
ricing strategies3.Distribution strategies
4.Promotion strategies
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1) Product strategy
Small unit and low priced packing
Sturdy products
Brand name
New product designs
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2) Pricing strategy
Low cost/cheap products
Avoid sophisticated packing
Refill packs/reusable packaging Application of value engineering
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3) Distribution strategy
co-operative societies
public distribution system
multi-purpose distribution centre distribution up to feeder markets/mandi
towns shanties/hat/jathras/melas,
agricultural input dealers
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4) Promotion strategy
It could be television, cinema, print
media, radio and so on.
The other means of mass media
available are hoardings/wall paintings,
hats/melas, non-price competition,
special campaigns etc.
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The other strategies, which include
are:
Client and location specific promotion Joint or cooperative promotion
Bundling of inputs
Management of demand Developmental marketing
Unique selling proposition (USP)
Extension services Business ethics
Partnership for sustainability
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Brand Positioning in Rural Markets
user
brand
values
attributespersonality
culture benefits
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Cont
Word Associations: While using the logo, hoardings
and exhibits, suitable jargons have to be deployed in the
word association..
Personifying the Brand:
Visual control mechanismplays a vital role in identifying the brands in terms of
personification.
Laddering up to find the brand essence: Brand
essence relates to the deeper, more abstract goals
consumer and trying to satisfy with the brand.
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Micro- Finance Microfinance is the provision of financial services to low-
income clients, including consumers and the self-employed,
who traditionally lack access to banking and related services.
Microfinance institutions are engaged in deposit taking in
order to mobilize household savings, they become financial
intermediaries.
Typical microfinance clients are poor and low-income people
that do not have access to other formal financial institutions.
Clients because they lack stable cash flows to repay loans.
MFIs started as not-for-profit organizations like NGOs . Some MFIs provide non-financial products, such as business
development or health services.
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CONCLUSION
Rural marketing will grow in importance in thecoming years.
Corporate that have understood the psyche of
rural consumers and markets and how to work
it have notched up successes. Rural market has an untapped potential like
rain.
But is different from the urban market so it
requires the different marketing strategies andmarketer has to meet the challenges to be
successful in rural market.
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Thank you
Sakshi Chanana
Esha Wadhwan
Arpita Deb
Nakul Bhalla