Companies work marketing models before entering in any market. They approach different models to reach the target market. They work in a planned way which gives the step by step process to implement. Depending upon the market the model may get slight change but the steps may remain same. The process helps the companies to analyze the real market and launch their business. There should be a clarity in this so as to reach the success in rural market.
The step by step process is Research, Segmentation, Lifestyle analysis, Profile study, Defining needs, developing specific profile, Target market, Marketing Mix, Implementation and Control.
So, if these steps are followed like a model then the company can attain the success in the market.
1.Research: A research should be conducted before launching the business. The research may be Primary or Secondary one. If it is primary then it sounds good, as there will be more clarity about the Business and Opportunities. This is about studying the market before entering.
2.Segmentation:The most important factor is the segmentation , as the rural market consists of different groups and socio economic class. They have different lifestyles, Cultures, Economy, and Demography backgrounds. So the company should think of this and make the segmentation in a perfect manner. Depending upon the product and business the company should keep some parameters to make the segmentation. The parameters should be selected in such a way that it effects the demand of the product.
3. Lifestyle Analysis: The people will be from different cultures and demographic background. So they will be having different lifestyles and needs. Depending upon their way of thinking and Lifestyle the company need to understand to think of their product. The lifestyle of the consumer makes an impact on the demand of the product . So by this analysis the company can draw their strategies to market the product.
4. Profile Study: The company should develop a profile for the rural consumers. The profile helps the company while designing the marketing mix . The profile should be in a proper manner which impacts the designing and marketing of the product. For developing such profiles local organizations/players can help out.
5. Defining Needs: The main theme of the company should look for the needs of the consumer. As from the above factors the marketer can be able to identify the needs which are suitable to their lifestyles. After that they should define the exact need of the customer. In general terms they should define the needs so as to work out on the target market.
6. Target Market: After so many steps of work flow process the company can easily identify that their product is going to match or not that is The way of matching in their marketing Mix / Business Strategy with the rural market. So by doing all this the company can target a market from the segmented market . So by selecting a segment they can target the group with their strategies and Marketing Mix.
7. Marketing Mix: As we know that marketing mix of the company is the main component to reach the customers. As there is a heterogeneous lifestyles and Geographically diverted market so the company should design or modify the mix depending upon the customer needs. There should be a proper work out of 4A's of Marketing Mix. From the above steps company can easily identify and can design their marketing mix to reach the market. So by doing this the company can attain the success.
8. Implementation: Most of the companies feel that implementation is the major problem in rural market , due the factors influences the market. So for implementation the channel players are important. They reach the last mile of rural market. So for the Implementation there should be a full focus from the organization point of view. The planning and working should be in parallel, by which the implementation cannot be a failure .
9. Control: Last but not least, the important factor to think for the model. As there is a huge competition in the market, it will grow in a speedy manner. So there will be a lot of things that companies should always get to update . The R&D should be strong for those areas. There should be a systematic process for the up to date communications, so that they cannot miss the feedback from the customers and work on those things. The timing for the analysis and action is very important here. The regional and local players can easily move in the market and modify their strategies, so that is why companies need to be with their channel partners to work their strategies . if they can implement it and control the things then the company can reach the customers easily and can attain the success rate.
So, from the above steps if the company does a work out on each step and implements perfectly then they can mark their success in the rural market.
About Author / Additional Info:
An MBA from GITAM University, India. with an experience in marketing.
Reference: Mr. Balaram Dogra and Mr. Karminder Ghuman ( Rural Marketing)