- Stage 1: Idea Generation
- Stage 2: Idea Screening
- Stage 3: Concept development & Testing
- Stage 4: Market strategy/Business Analysis
- Stage 5: Product Development
- Stage 6: Deployment
- Stage 7: Market Entry/Commercialization
What steps should a company take to tap the huge potential in rural markets?
- Step #1
- Step #2
- Step #3
- Step #4
- Step #5
- Step #6
- Step #7
- Step #8
What are the rural requirements to develop the rural market?
- Government initiatives:
- Rising literacy levels:
- Infrastructural facilities:
- New employment opportunities:
- Rising mass media:
- Agricultural research:
What are the steps taken by the government in developing rural markets
Indian government provided cold storages and warehouses that help the farmers to sell their product at the time when the price is attractive.
Also, railways offer subsidised transport facilities to the farmers. This enables the farmers to bring their product to urban areas where they can earn huge profits.
Which developments can bring betterment for rural markets?
- Huge population
- Green revolution
- Smartphones
- Increased education level
- Increased employability of rural youth
- Enhanced purchasing power
- Government Incentives and policies
- Media
Which is the most important tool for developing the rural market
The most significant tool for expanding the scale of rural marketing is modern transportation and communication.
Moreover, the market for farm products has broadened as transportation and communication infrastructure have improved.
How can rural marketing be improved?
- Rural Market Segmentation
- Competitive Strategy
- Product Strategy
- Pricing Strategy
- Advertisement Via Hoardings & Wall Paintings
- Mobile VAN
- Kiosk Setup
- Shop Branding
What is the development of rural marketing
Rural marketing is a booming sector with plenty of job opportunities for students. Rural marketing is a marketing system that involves the development, planning, pricing, and distribution of goods and services so that people in rural areas can access basic products at fair prices.
What product strategy are adopted in rural market
Small unit packing: This method has been tested by products life shampoos, pickles, biscuits, Vicks cough drops in single tablets, tooth paste, etc. Small packings stand a good chance of acceptance in rural markets.
The advantage is that the price is low and the rural consumer can easily afford it.
What business can I start in rural area?
- Retail store
- Flour mill
- Small-scale manufacturing units
- Poultry/live-stock farming
- Fertilizer/pesticide store
- Tutor services
- MIlk/dairy center
- Organic vegetables/fruits
What are the features of rural marketing?
- Large and scattered population: ADVERTISEMENTS:
- Higher purchasing capacity: Purchasing power of the rural people is on rise
- Market growth: The rural market is growing steadily over the years
- 4
- Low standard of living:
- Traditional outlook:
- Marketing mix:
How do you distribute products in rural areas
Distribution through Wholesalers: This is the most common method of reaching rural areas. It entails no extra cost for the company since existing channels are used.
Wholesalers load the goods in a small vehicle and send them to nearby villages.
What are some of important pricing policies & strategies for rural market?
- Some of these methods are:
- Cost-Based Pricing:
- Cost-based pricing can be represented as a simple equation:
- Value-Based Pricing:
- Demand-Based Pricing:
- Competition-Based Pricing:
- Once prices of competitors are known, the company may decide any of the following three strategies:
- i
How does the rural market environment affect rural marketing efforts
The rural marketing environment is complex and is changing continuously. Rural marketing is affected by the dynamism and uncertainty of the environment within which it functions.
India’s vast rural market offers a huge potential for a marketer facing stiff competition in the urban markets.
What are the emerging perspective of rural marketing
1. Rapid growth in service industries 2. Rise in demanding consumers: The purchasing power in rural India is on steady rise and it has resulted in the growth of the rural market 3.
Increase of rural literacy: Literacy level among the rural mass is increasing day by day.
What are the key challenges government is facing in the development of rural market
Rural areas are still facing issues like poverty, low literacy rates, and lack of basic infrastructures like schools and hospitals.
As a result, youth is migrating to urban areas in search of new opportunities.
If rural areas are poor, India is poor. India is continuously trying to boost the rural economy.
What are the major stages in new product development?
- Step 1: Idea Generation (Ideation)
- Step 2: Product Definition
- Step 3: Prototyping
- Step 4: Detailed Design
- Step 5: Validation/Testing
- Step 6: Commercialization
What are the factors affecting growth in rural marketing
The factors that have created rising demands among rural buyers are increase in literacy levels, migration to urban sectors, growth in media and telecommunication, availability of bank credit schemes, globalization of market, low price technology products (such as television, mobile, fridge, camera, etc.), government
What are some of the issues in rural development?
- Connectivity
- Electricity and water supplies
- Education/Literacy
- Employment
- Migration to urban areas
- Land Reforms
What is rural marketing and its strategies
Definition: A rural marketing strategy refers to the planning of adequate supply of consumer goods and agricultural input to the villages at an affordable price to fulfil the needs of the consumers residing in these rural areas.
What do you mean by rural marketing
Rural marketing is a marketing system that involves the development, planning, pricing, and distribution of goods and services so that people in rural areas can access basic products at fair prices.
What are special features of rural marketing
Predictability: Unlike urban markets, the rural markets are difficult to predict, and possess special characteristics.
The featured population is predominantly illiterate, have low and irregular income, lack of monthly income, and flow of income fluctuating with the monsoon winds.
Why is rural marketing an important strategy today
Rural marketing can generate more attractive employment opportunities to rural and urban people. Growth of rural marketing leads to increased business operations, professional activities, and services that can generate a lot of employment opportunities.
What is a major challenge in rural marketing
Rural markets typically signify complex logistical challenges that directly translate into high distribution costs.
Bad roads, inadequate warehousing and lack of good distributors pose as major problems to the marketers.
What are the challenges in new product development?
- Ideation
- Market viability
- Product roadmap problems
- Workflow management
- Product engineering issues
- Pricing policy
- The pace of innovation
- Time-to-market
What is the most likely reasons for growing rural markets
Improved Rural Infrastructure: Improved infrastructure has positive impacts on rural market in several ways.
Availability of electricity, education, health, transportation, communication and entertainment, and so on contributed to rural development and, hence, rural market.
What is new product development in marketing
New product development (NPD) is the process of bringing a new product to the marketplace.
Your business may need to engage in this process due to changes in consumer preferences, increasing competition and advances in technology or to capitalise on a new opportunity.
How do brands create awareness in rural markets
Shop branding in rural marketing is a strategy that corresponds to mall advertising in the cities.
Advertising a brand in the close proximity of a retail outlet influences the customer to buy the product out of curiosity.
Thus, shop branding has an instantaneous brand impact among the other forms of rural marketing.
Which stage of new product development is focused on understanding customer wants needs and ideas
Idea generation Idea generation involves brainstorming for new product ideas or ways to improve an existing product.
During product discovery, companies examine market trends, conduct research, and dig deep into users’ wants and needs to identify a problem and propose innovative solutions.
Does development in agriculture result in overall rural development
Farming and related activities make up the basic fabric of rural life, contributing significantly to the overall state of rural regions in terms of employment and business opportunities, infrastructure and quality of the environment.
How is segmentation done for rural market
Rural market segmentation is the process of dividing a potential rural market into distinct sub markets of consumers with common needs and characteristics.
Rural market segmentation is the starting step in applying the rural marketing strategy.
Citations
https://www.lightercapital.com/blog/product-development-strategy-definition-examples
https://www.artworkflowhq.com/resources/packaging-development-strategies-for-rural-marketing
http://www.indianjournalofmarketing.com/index.php/ijom/article/view/37720
