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ABSTRACT
The future lies with those companies who see the poor as their customers
CONTD
According to Hindustan Lever Ltd, ITC Ltd. and Consumer durable companies: Any territory that has more than 20,000 and 50,000 population, respectively, is Rural Market.
650 million people Estimated annual size of the rural market FMCG Rs 65,000 Crore Durables Rs 5,000 Crore Agri-inputs (incl. tractors) Rs 45,000 Crore 2 / 4 wheeler vehicles Rs 8,000 Crore Of two million BSNL mobile connections, 50% are in small towns/villages. Of the six lakh villages, 5.22 lakh have a Village Public Telephone (VPT) 42 million rural households are availing banking services in comparison to 27 million Urban households. Investment in formal savings instruments: 6.6 million households in rural and 6.7 million in urban India.
4 AS
Availability - It emphasizes on the availability of the goods and services to the end consumers. Affordability - It focuses on product pricing. A company buys from farmers directly in the last days closing price and even pays them for transportation. Goods are weighted electronically and hence farmers are no more cheated as they used to be previously. Hence it is a win-win situation both for farmers and the company.
CONTD
Acceptability - It focuses on convincing the customer to buy the product. Awareness - It focuses on making people aware of the product. It provides active servicing up to rural outlets. It provides them with wide range of product categories. Moreover it has made entrepreneurs out of farmers as they are managing most of the work; it instills in them the sense of ownership.
CONTD
By Talking about a Normal Indian By developing Rural Specific Products By giving Indian Names to Brands By acquiring Indian Brands By effective Media Communication By Adopting Localised way of distributing By associating them with Indian Celebrities By participating in MELA By putting company Hoardings as COKE, PEPSI & TATAs do.
CONCLUSION
The future is very promising for those who can understand the dynamics of rural markets and exploit them to their best advantage. For achieving success in rural market paradigm shift in the belief of top management those who think that Rural Market is bundle of problem & unattractive is required. It is only the matter of strategically developing rural market for getting competitive advantage. Thus the future lies with those companies who see the poor as their customers."
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