Wilson College Co-Operatives & Rural Markets Topic: Rural Marketing Mix SYBMS (2012-2013)

Made By: Adnan KhanRoll Number:15

Meaning of Marketing Mix 1Elements of Marketing Mix 2Factors Influencing Marketing Mix 3Rural Marketing Mix strategies 4Other Important Strategies 5Communication and Promotion in

Rural Markets. 10Bibliography 13

Index

Meaning of Marketing Mix

According to William Stanton “Marketing mix is the term used to describe the combination of four inputs which constitutes the core of any company’s marketing system i.e. Product, Price, Promotion, Distribution system.

According to Phillip Kotler “marketing mix is the mixture of controllable marketing variable that the firm use to persue the sought level of sales in the target market.

Thus from the above definitions we can make out that the four basic elements which are also known as 4 P’s ie place, promotion, pricing and product is used in a fair combination for attracting consumers and sales is known as marketing mix.

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Elements of Marketing Mix (4 P’s)

There are 4 basic elements of Marketing Mix which are:

Product

Price

Promotion

Place

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Factors Influencing Marketing Mix

Behavior of Consumer

Trade Factor

Market Competition

Behavior of the Government

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Rural Marketing Mix Strategies

Product Strategy

Rural Product Categories

Product Item Decisions

1: Core Product Development

2: Tangible Product Development

A: Quality

B: Features

C: Style

D: Packaging

E: Branding

Augmented Product Development

4

Other Important Strategies

Customer Value Strategy

A: Mass Product Strategy

B: Premium Product Strategies

Innovation Strategies

A: Rural Urban Common

B: Special for Rural

Quality Strategies

A: Quality Improvement Strategies

B: Spurious Goods Strategies

Packaging Strategies

A: Small Packs

B: Combi-Packs

C: See Through Packs 5 55

Product Management in Rural Markets

Pricing Strategies

Rural Pricing Objectives:

A: Deeper Penetration of Market

B: Long Run Profit Organization

C:Recover Profits through Distribution Cost

D: Competitive Pricing

E: Increase Sale Volume and Market Share

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Price in Marketing Mix for Rural Consumer

Quality Conscious Customer

A: 6 Proposition applicable for Rural and Urban Market

1: Quality Difference

2: Quality Uncertainty

3: Price Consciousness

4: Need Compulsion

5: Place Availability

6: Social Consciousness

B: Pricing Method:

1: Discriminatory Pricing

2: Perceived Value Pricing

3: Psychological Pricing

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Pricing for Value Conscious Customer:

Some Customers are willing to pay for the product of their choice as long as they get “Valor for Money”. The Recent shifts in the demand show such types of preference of customers.

Pricing Method:

1: Skimming Pricing

2: Penetration Pricing

3: Value Pricing

4: Psychological Pricing

Pricing for Price Conscious Customer:

Price Conscious Customer are the weaker section of society who can afford less and hence they look for special offers to meet their need a very smart strategy is needed to deal with such people like the Mini Packing Strategy etc.

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General Pricing in Rural Market

Value for Money

Low Cost/Cheap Products

Refills/Reusable Packaging

Application of Value Engineering

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Communication & Promotion in Rural Markets

Today India has a bulk of people living in villages so it becomes impossible for a Company to earn in huge quantity without making these people its customer, Hence communicating with these people and promoting Goods & Services in rural areas becomes very important .Now we will see how its done. Awareness Selecting proper Media Mix Giving Advertisement in Radio, Television, Cinema, Outdoor Banners,

Newspapers and Magazine etc. Involving Informal/Rural Specific Media which contains House to House

Campaign, Music Records, AV Vans, Interpersonal Media, Wall Paintings etc.

Use of Logos/Symbols & Identifying the needs of people and providing services according to it.

Use of Information Technology Internet Marketing Physical Distribution 10

Bibliography

Vipul’s BMS Series “Co-Operatives & Rural Market” By Romeo S. Mascarenhas

www.google.com

www.wikipidia.com

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Acknowledgement

I am very Thankful to Prof. Vijay Kapoor for giving me an opportunity to present on such an important Topic and helping me in improving the presentation.

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