unlocking the wealth of rural markets
TRANSCRIPT
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Unlocking the Wealth in Rural Markets
Group 1Yana Cherepashenskaya, Garry Gonzalez, Ismet C. Cetinguc,
Alexandra Menéndez Meléndez, Md Kabir Hossain Kanak, Zach Foster
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● Establish Cost - effective ways to get goods to India’s rural dwellers
○ Only then can a business be successful
● Distribution must be a company’s first focus
● Multipronged Approach- Adopted by most successful companies that includes
multiple layers of distribution
● Different methods reach different populations of people
○ Conventional distributions
○ Smaller - scale sub distributors
○ Van delivery to reach small sparse populations
Developing a Distribution Strategy
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Identifying Prospective Customers
● Identify Once the distribution channel has been planned, the company
must then identify the customers who have the highest potential
● Targeting The leading firms have begun this process by targeting a
cluster of villages that have potential for high profits
● Three customer segments
○ Underemployed or unemployed
○ Families involved in large - scale agriculture
○ Small businesses
● Research A lot of research is done to identify the customer base
appropriate for the company
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● Building trust through an ecosystem of stakeholders○ They want to build a reputation rather than just corporate profits○ Novartis has created such a cohesive ecosystem
● Engaging influencers○ Gaining the trust of high standing in the community ○ Tata Motors has tapped local teachers and mechanics to refer
potential customers
● Retaining customers○ Providing reliable, consistent, and cost-effective ○ Idea Cellular relies on mobile vans where customers can go to these
mobile vans
Creating Durable Ties With Customers
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Organizational and Management practices to be successful in rural areas:
● Dedicated divisions○ Central Unit vs Regional Units
● Mechanisms to garner employee support ○ highlight internal initiatives for rural markets○ develop & recognize local talent
● Clearly defined roles ○ Who does what
● Coordination through technology○ tablets & mobile phones used to track, update, and predict sales
Organizing to Serve Rural Markets
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Quiz1. What is the Multipronged Approach?2. What are three customer segments?3. Name one type of organizational and management practice.
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The End