The Hindu Business Line : `Special strategies needed for rural markets'

IN order to reap the benefits of the rural market, which accounts for about 70 per cent of the Indian population with over 70 crore people, companies need to identify the rural community's specific requirements, provide tailor-made solutions and devise strategies accordingly, said experts, while sharing their experiences with the students of Delhi University's management school, faculty of management studies, at its convention this year.

"Having identified the rural needs, one should associate with the existing retail channels such as post offices and also with various rural co-operatives such as fishermen societies, milk societies, co-operative banks," said the Reliance Infocomm Head-Rural Marketing, Mr Sanjeev Govil.

Rural customers are very intelligent compared to their urban counterparts, as they are more particular about how they spend their money, he said.

"My experience shows that rural customers are ready to pay an additional amount, provided they feel they are getting the value for money.

However, it is very important to win the customer's trust and maintain it," said Mr Govil. Meanwhile, the Nicholas Piramal Executive Director, Mr Vijay Shah, stressed on the need to be sensitive to rural social and cultural practices.

The Mahindra & Mahindra Executive Director, Mr A.K. Nanda, talked about the various strategies to get information in the rural areas.

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