Marketing is everywhere. Formally or informally, people and organizations engage in a vast number of activities that we could call marketing. Good marketing has become an increasingly vital ingredient for business success. And marketing extremely affects our day-to-day lives. It is enclosed in everything we do from the clothes we wear, to the web sites we click on, to the ads we see.
What is MARKETING
Marketing is about identifying human and social needs and meeting those needs profitably.
“Marketing is a process through which concepts will be converted in to goods and services, which is offered to customers”.
IMPORTANCE OF MARKETING Marketing lies in heart of business success. Most aspects of business depend on successful marketing. …show more content…
Marketing today has become an emotional research which helps understanding customer and consumers psychology so that products and services are developed based on these understanding. To understand needs is very important for a success of a business.
Marketing is very important in deciding product design, Prices to offer, where to sell the products and how much to spend on advertising.
The marketer E. Jerome McCarthy proposed a four Ps classification in 1960, which has since been used by marketers throughout the world.
The marketing mix is a business tool used in marketing and by marketers. FIGURE 1.1 SHOWING MARKETING MIX
1. PRODUCT A product is anything that is offered to a market place to satisfy a want or need. It is a tangible good or an intangible service. Tangible products are those that have an independent physical existence. Marketers should consider how to position the product, how to exploit the brand, the marketer must also consider product development strategies. Examples of product decisions
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Major Income from Agriculture
60% of the rural income is from agriculture in rural India. Hence rural prosperity is tied up with agriculture prosperity.
2. Large and Scattered Market
About 70% of India’s population lives in rural areas. More than 800 million lives in villages in India.
3. Infrastructure Facilities
The infrastructure facilities are inadequate in rural areas like roads, communication system, warehouses and financial facilities. Hence physical distribution becomes costly.
4. Improvement in Standard of Living
The standard of living is improving in rural India at an increasing spread, since there is an improvement in literacy, savings and per capita income.
5. Improvements in Agricultural productivity
Agricultural productivity are improving for different reasons
• Improvement in irrigation
• More use of high yielding varieties of crops
• Better land use pattern
IMPORTANCE OF RURAL MARKETING
1. Increasing Competition in Urban Market
Competition is increasing in urban market to find new market for the existing products company has to form rural marketing strategy.
2. Less expensive
Promotion in Urban areas costs twice as much as in rural