Emerging Trends in Indian Rural Marketing Dr. Aggarwal Bhavna* Assistant Professor, Department of Management, IME Group of Colleges, Sahibabad, Ghaziabad, Uttar Pradesh, 201005, India *Corresponding Author: Dr. Bhavna Aggarwal, Assistant Professor, Department of Management, IME Group of Colleges, Sahibabad, Ghaziabad, Uttar Pradesh, 201005, India, E-mail: dr.bhavna.aggarwal@gmail.com
Online published on 21 July, 2020. Abstract India's urban market is reaching saturation levels. Aspiring to achieve the development goals market is a tough nut to crack. In addition, fierce competition in the market and maintaining their respective firms to increase market share creates an inability on the part of this tempts the businessmen to move to the rural market of India that is showing better growth prospects as India's two-third population lives in rural areas. The demand and the expectations of the rural folks are rising due to the overall economic growth, giving an underexplored opportunity to the business houses to tap the huge potential. Both rural and urban areas of factors that influence the demand structure are a number of differences between both the areas. In order to succeed in these areas before landing to study the dynamics of the rural market needs. This paper intends to the marketing potential, the opportunities and driving forces for the marketers in the rural market. Breaking down growth statistics in real terms, the consumer economy grew at a rate of 5.7 percent annually between 2005 and 2015. Based on this, estimates hold that the annual growth of the consumer market could reach 6.7 percent between 2015 and 2020, and 7.1 percent between 2021 and 2025. This creates a consumer market worth about US $507.46 billion (Rs 34 lakh crore) for the ongoing financial year, which could expand to US $746 billion (Rs 50 lakh crore) by the financial year 2021. Top Keywords Market, Financial year, Urban market, Rural market. Top |