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Vishwamitra Vats Zafar Imran Rakesh Babu Vidweta Sachan Anandkumar Lotlikar Pratiti Bhattacharya
The strength of future companies in the coming years would neither be saturated urban markets or export markets which suffer from uncompetitive prices overseas but the rural market.
Consumer Characteristics: Low purchasing power >600 million consumers spread over 5,93,731 villages Low per capita income Low literacy level-58% (Urban 79% ) Divisions based on caste, community and other hierarchical factors 60% of rural income is from Agriculture
Rural consumers value for money (Dont pay extra for frills)
Product: preferences for color, size, design and shape differs . Eg.
Philips audio systems.
700 million potential consumers, over 40 per cent of the Indian middle-class, and about half the country's disposable income
Budget Allocation up from INR 10,000 Crs. to 58,000 Crs. for rural development.
As per BCG and CII reports Rural Customers will be 36% of House Holds by 2025. This market will be open for retail sector.
Ten Fold growth In rural Market by 2025 to reach USD 100 Bn Mark. - HUL
Godrej introduced three brands of Cinthol, Fair Glow and Godrej (soap) in 50-gram packs, priced at Rs 5; Adidas and Reebok increased their sales by 50% in rural markets by reducing prices.
HULs Project Shakti, Colgate Palmolive: Operation Jagruti-Switch from Charcoal to Colgate tooth powder Tata Teas Gaon Chalo ITCs E-Chaupal Cavin Kare : Free sample of Chik Champoo Marico Industries - Parachute coconut oil -Sudhata ki pehchan
FMCG
Consumer Durables
Videocon introduced a washing machine without a drier for US$60; Philips launched a low-cost smokeless chulha DCM Shriram developed a low-cost water purifier especially for rural areas LG Electronics Sampoorna : developed a
customized TV which was cheap and capable of picking up low-intensity signals for the rural markets