While the rural market of India certainly offers a big attraction to marketers, it would be totally naive to think that any firm can easily enter the market and walk away with a sizeable share of it. A firm seeking a share of this market has to work for it, as the market bristles away with a variety of problems. The enterprise has to grapple with these problems and find innovative solutions to them. In fact, only because a few pioneering firms correctly understand these problems and came up with innovative solutions to them, that we now see a wonderful trend of growth in rural markets.
What are these problems? How are they peculiar to the rural market? And how does a firm solve them?
The existing problems in rural marketing are:
- Physical Distance
- Lack of Human Resource
- Rules & Regulation
- Lack of Information
- Size of the Market
- Buying Power
The solution to these problems is four fold
We will look at each one of these in detail