Rural Marketing: The Relevance, Challenges and Strategies
With the opening of the Indian economy, the sombre market place has become intensely competitive. The domestic big players which had smooth going for years in a sellers' market are forced to develop new trajectories of growth. For the last several years, Corporate India has overlooked the rural areas where 72% of the population live. Certain products were available there, but that was by default and not by design. Today firms have realized that in the case of many consumables the rural market accounts for 60–80 percent of the total sales and this quantum of sales gets generated with very low levels of penetration. The article analyses the factors for increased attention to rural markets, the challenges and some of the strategies deployed by firms in developing appropriate marketing programmes to tap the vast potential of the rural markets.