New option for the market

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Yes we are growing. We are living in the developing country. Our businesses are also growing. Companies are capturing all the urban areas, and they are almost successful in it. But if companies want to improve their business then they will need new market and new customer. In the urban areas, which are already captured by many companies, it is very difficult to get a new customer. Then what will be the new option for the business to grow constantly.

Yesterday I was watching a movie “Mahatma Gandhi”. In this movie Mahatma Gandhi was telling a man that “India leaves in villages.” So in my view villages and rural market will be new areas for business. India has traditionally been an agrarian economy. The burgeoning rural class holds over 70% of the Indian population is the most lucrative segment to take the mantle of growth. The lower class and rural population can create a new growth market and can increase the business level.

Government’s new schemes and facilities are increasing the purchasing power of rural population. The government has put in place a number of supportive rural policies to stimulate rural development, which will further spearhead potential demand in rural markets. Recent government measures like the farmer’s loan waiver scheme, National Rural Employment Guarantee Scheme, and increasing minimum support price for farm product s, has rapidly increased disposable income in rural India.

There are many companies which has already set their strategies for rural market. The telecom sector has carved a prominent model that is shifting focus to rural areas. Now farmers in a semi-urban village of India use his mobile to provide vegetable to his customers. Automakers too are giving extra attention on the rural market.

Small size packaging, low pricing strategy, and deep distribution channels will be the conventional approach for rural market.

So now at the end, if growth is the only option to survive, then the rural market is the only way to grow moving forward. And companies that will take the initial leap on this approach will not only benefit from the first mover advantage, but also gain brand loyalty and better business growth momentum.

Comments

Unknown said…
awsome article dude. keep it up...
March 3, 2010 at 2:07 AM
Surendra said…
thank you abhay for reading this blog.
March 3, 2010 at 8:55 AM
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