Reaping a rich harvest

POST liberalisation, the Indian corporate world has been set free. Most traditional professions are beginning to sport a new look, are exploring new dimensions, which have added an impetus for growth.

With a mind-boggling array of products saturating the market, Indian corporates are looking out for avenues of expansion. The new target is the rural market, which suddenly seems to be akin to a rich cash cow! Of all the marketing specialisations, rural marketing is the most challenging. There are definitely rich farmers out there, but the trick lies in wooing them right.

Marketing is more than just selling a product. It deals with everything from planning the look of the product, pricing, distribution, promotion, positioning and selling. With the buyer dictating the market trends, marketing has become very customer- centric.

The possibility of striking gold in an untended market has urged marketers to increase their sales by aggressively marketing their products to the rural folk. Degrees in rural marketing and management from institutes such as IRMA (Indian Institute of Rural Management) are suddenly the 'in-thing' to do now.

Big corporates now desire to employ people acquainted with the workings of the rural society and especially, the mindsets of the rural folk.

Companies like HLL, P&G, Colgate-Palmolive, Marico industries, Godrej, and Britannia have already made profitable inroads into rural areas. It's not surprising then that most other FMCGs are following suit.

With crop yields exceeding expectations, and with enhanced rural purchasing power (due to subsidies and tax exemptions), the rural market has become a promising segment. Yet, the (rural) path to success is still an uneven pitted dirt track, that has to be smoothened out. The rural psyche is very different from that of the urban one.

To be successful, a rural marketer must have a `never say die' spirit, must be ready for tough challenges, be dynamic and creative, make frequent field visits, do without most basic amenities and most of all have ingenious communication skills to be able to communicate with the rural folk (eg: speak a rural dialect!).

Companies like Marico are investing much in terms of advertising and promotional campaigns typically aimed at rural folk, consequently leading to a product overhaul. A re-haul is inevitable as the rural market is highly price sensitive and the purchasing power of the rural folk depends on the vagaries of the monsoon.

With the result that Indian and multinational corporates have begun to aggressively re-strategise their marketing plans, reposition their brands, re-price and even re-package products.

Certainly, a smart way to increase volume driven growth! Hindustan Lever is a case in point. The company worked fast to save itself from the brink of no return, when it began to clock in lowered profits and a reduced market size due to a deceleration in the industrial sector. Now, its brands like Rin, and Surf have become household names even in the remotest of villages. Rural marketing is the new job on the block!

SAMYUKTA KODA

samyukta.hyd@cxknetworks.com