Thursday 9 March 2017

NATURE AND CHARACTERISTICS OF RURAL MARKET

There goes a saying that the proof of the pudding lies in the eating.
So also the proof of all production lies in consumption/marketing. With
the rapid pace of technological improvement and increase in peoples
buying capacity, more and better goods and services now are in
continuous demand. The liberalization and globalization of the Indian
economy have given an added advantage to sophisticated production,
proliferation and mass distribution of goods and services.


Taking these into consideration, the question may arise whether
marketers should concentrate their activities in urban India consisting of
metros, district headquarters and large industrial townships only, or
extend their activities to rural India. Rural India is the real India. The
bulk of India’s population lives in villages. In terms of the number of
people, the Indian rural market is almost twice as large as the entire
market of the USA or that of the USSR.


Agriculture is main source of income.

The income is seasonal in nature. It is fluctuating also as it
depends on crop production.


Though large, the rural market is geographically scattered.

It shows linguistic, religious and cultural diversities and
economic disparities.


The market is undeveloped, as the people who constitute it
still lack adequate purchasing power.


It is largely agricultural oriented, with poor standard of
living, low-per capital income, and socio-cultural
backwardness.


It exhibits sharper and varied regional preferences with
distinct predilections, habit patterns and behaviorual
characteristics.


Rural marketing process is both a catalyst as well as an
outcome of the general rural development process. Initiation
and management of social and economic change in the rural
sector is the core of the rural marketing process. It becomes
in this process both benefactor and beneficiary.
  

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