International Journal of Research in Finance and Management
2022, Vol. 5, Issue 1
An analysis of possible challenges and opportunities in rural markets-understanding rural markets
Dr. Mridula Jain
Four billion people live in poverty around the world, and marketing organisations are still battling to convert them into clients. For the past decade, business visionaries have claimed that the "Base of the Pyramid" represents a vast, unexplored market. Some of the world's most powerful and savvy firms have sought to meet their most basic requirements by selling them anything from clean water to energy, FMCG to consumer durables. It is a great goal to improve the lives of billions of people at the bottom of the economic pyramid. It can also be financially rewarding. The rapid advancement of technology has advanced every sector of social, economic, political, and cultural life, allowing companies to produce more efficiently, lower costs, and expect bigger profits. The emphasis is on reaching out to rural markets. Rural markets have been saturated by urban markets. This article examines the environment, problems, and strategies in India's rural markets. Rural marketing has become the new slogan for most businesses, and even multinational corporations are looking to rural markets to get into India's massive market. Marketers in a country with a multi-cultural, multi- lingual varsity face an open ground difficulty as a result of this. This research examines and explores several modern-day successful rural marketing tactics in an attempt to present some solid solutions to these problems.