Paper Title
RURAL MARKET IN INDIA AND IT’S STUDY: OPPORTUNITIES AND CHALLENGES
Abstract
Management Guru Mr.C.K Pralhad’s thought – In the process of expanding the market, it is said to be true that bottom of the pyramid at their future lines explores the rural market by grabbing an opportunity. Any of the (FMCG) Fast Movable Consume Goods in have decided very strictly, not to lose the opportunity as the companies of FMCG are drastically growing in the market with size of over Ts. 110,000 crore and there are also possibilities for FMCG to grow till Rs. 185,000 crore which comes to around ($ 37 billion) US dollars by the year of 2014 as the FMCG is the fourth largest in the economic sector.
Wide range of opportunities exists in rural market ex: startup markets, population in large numbers, making a first move in the market, with the available resources, many possibilities to enter into new markets, simultaneously these markets also create few challenges as well. Markets which have been growing rurally proved to be very significant. It has also become an very crucial aspect for different telecom operators in India.
Narrow population is a peculiar feature located at distance between each other, diversification, literacy rate which is very low, restricted purchasing power, rural consumers and their cash flow which is periodically proved to be not as interested as expected. Coverage of rural markets widely can help companies through various strategic marketing techniques which raises the scope of win-win situation and the techniques are: pyramid’s bottom, mode availability of 4A’s, acceptability, affordability (who can afford), providing awareness and marketing strategies which are innovative and adopted.
Rural markets are volume game rather than value game. This Paper tries to understand what rural markets are? Their traits, importance and challenges faced by the companies while penetrating these markets. Various observations have been described in this article and different contemporary systems initiated by FMCG (Fast –moving consumer goods.)
Keywords – Rural, Urban, FMCG, Cyclical cash, innovative, disposable income.