Rural Market-A Gold Mind For The Entrepreneurs (A new face of high scale and profit maximization)

Raghavendra Dwivedi ()
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Raghavendra Dwivedi: Lecturer, Bharat Institute of Technology, Meerut.

Journal of Commerce and Trade, 2005, vol. 0, issue 1, 28-32

Abstract: Since 1991 the liberalization of Indian economy took place, new entrepreneurs have chanced establishing themselves. As Market has become very competitive and every segment of every product category is full lot of varieties of several brands. Regime of monopolist has been end. New entrepreneurs are in the market with innovative strategies and practices, all are fighting to survive and grow by trying to provide value to their consumers. Market of cities is saturated for many products especially for FMCG products hence search of new markets is necessary and best option for entrepreneurs is to grow rural market of India. India has second largest populated country of the world and approximately 67 per cent of the population is living in the villages. It means rural India represents a big market for marketers; it is almost double as large as the entire market of USA or USSR. Rural market has been growing steadily in recent years and is now larger than urban market. (53 per cent of all FMCG’s and 59 per cent of all consumer durables are sold in rural India) companies and to harvest the rural market it is necessary to understand the peculiar features in different segments. The business community should try to reap this market keeping in view the effect of IT revolution for getting the benefits of communication and advertisements and also consider the rapid changes of economic progress overall due to government incentives to rural India. We can see that M NCs like Hindustan lever, Pepsi and Cocacola, L G and ITC are trying to tapping this market by making separate strategy for their business interests

Keywords: stress; employee attraction; pressure; turnover; retention strategies (search for similar items in EconPapers)
JEL-codes: A0 C0 (search for similar items in EconPapers)
Date: 2005
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