MARKET SEGMENTATION STRATEGIES, CHALLENGES FACED AND OVERCOME STRATEGIES IN RURAL INDIAN MARKET
DOI:
https://doi.org/10.29121/shodhkosh.v4.i1.2023.5417Abstract [English]
India's rural market represents a vast and complex consumer base with significant potential for businesses to tap into. However, due to its heterogeneity and socio-economic diversity, market segmentation remains a challenge. This paper explores the basis for rural market segmentation in India, highlights the key segmentation strategies used by marketers, and discusses the implications of demographic, geographic, psychographic, and behavioral segmentation in the rural context. The study also addresses the challenges involved and suggests frameworks for effective segmentation, emphasizing the importance of culturally nuanced, localized approaches.
References
Kashyap, P., & Raut, S. (2010). Rural Marketing. Pearson Education.
Kashyap emphasizes the importance of decentralized distribution networks and collaboration with local intermediaries in reaching remote areas efficiently.
Prahalad, C. K. (2004). The Fortune at the Bottom of the Pyramid. Wharton School Publishing.
Prahalad advocates for innovation in product design and pricing to cater to low-income consumers effectively.
Singh, A. K. (2012). Rural Marketing: Challenges and Opportunities. International Journal of Management and Social Sciences Research, 1(3), 93-97.
Singh emphasizes culturally relevant communication to build product credibility in rural markets.
Ramaswamy, V. S., & Namakumari, S. (2009). Marketing Management: Global Perspective Indian Context (4th ed.). Macmillan.
The authors highlight the importance of physical presence and local engagement in gaining rural consumers' trust.
Kumar, D., & Dangi, N. (2013). Rural Marketing for FMCG. International Journal of Business and Management Invention, 2(1), 1-7. The authors suggest integrating digital channels to bridge the urban-rural divide in consumer durable access.
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Copyright (c) 2023 Ajit Damodar Adsul, Dr. Balwant Dinkar Girigisavi
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