The Future Lies With Those Companies Who See The Poor As Their Customers Essay

1535 WordsMar 28, 20167 Pages
1.0 Introduction “The future lies with those companies who see the poor as their customers” -C.K.Prahalad Villages are an integral part of nation. They become even more important in the Asian and African context, where a majority of population is residing in rural areas. For centuries the rural world in India was static as a self sufficient unit of production and consumption, but it is no longer so. The rural setting is changing every day, with the corporate sector acting both as the carrier and bearer of the consequences of this change which is happening at an accelerating rate. Demographic profiles and spending patterns in rural India too are changing and marketers have to junk their old perception about rural India. Rural consumers who were on the receiving end so far are now gradually getting into position to dictate terms for the first time. Although there is a long way to go, the beginning has already been made. Corporate world needs to realize that, to be successful in the rural market, they must go in with a clear long-term strategy. There must be a willingness to invest in rural market with as much energy as they utilise to build brands in the urban one. Since rural efforts take longer to give sustained results, they must be prepared for a long haul. Short term efforts may not deliver the desired results on a sustained basis in rural areas. A debate continued for a long time amongst the Indian marketers on the justification for
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