Rural Marketing in an underdeveloped economy
Well, it is not appropriate to call India an underdeveloped economy anymore. The country is shining brightly with a tremendous growth record in the last decade. It should be better called a rapidly developing economy. However, the country faces a setback because of a clear-cut difference between the India and the Bharat, i.e. the urban and rural India. There are huge differences in terms of lifestyle, facilities and infrastructure. The government is trying hard to bridge the gap between the two.
It is the reason; marketing gurus in India altogether different marketing strategies to lure the rural market which has immense potential. A company cant flourish by relying on the already saturated urban market. There is a fierce competition, and it needs a great struggle to achieve a marginal increase in the market share. Rural market, on the other hand, is still unexplored. Hence, there is always a possibility of high returns on investment.
Its a different ball game
Experts admit that the rural marketing in a country like India is a different ball game. Only those companies who understood the pulse of rural market could make wonders in the niche. Companies such as Vrittii Media have got the grip on the rural mentality, and it is the reason behind their overwhelming success.
(i) While in the urban market, it is important to highlight aspects that differentiate your product from others; in the rural market you should connect the product to the daily life of people. The more they feel associated with the product, higher is the pull.
(ii) Use of marketing channels that are close to the heart of rural people, cerate the maximum impact. They feel that the product is designed to fulfill their expectation, and it is not a product for classes. The overwhelming response received for marketing campaigns done at Kumbh Mela, or Audiowala Bus Stand substantiates the fact.
(iii) Product price is a distinguishing factor in rural marketing. Even if it is a lifestyle product, it is critically important to keep the price band low. In a country like India where the gap between rural and urban market is distinguishable, cost of the product makes a big difference.
(iv) Timings also play a vital role in rural marketing, especially in underdeveloped countries. Since the rural population is largely dependent on crops, it is important to market lifestyle products immediately after the harvest season.