What is Thompson rural market index?

What is Thompson rural market index?

Thomson Rural Market Index (TRMI): Hindustan Thomson Associates developed a guide to rural market segmentation in 1972 and revised it in 1986. They collected data in 335 districts based on 26 variables. The TRMI is based on 10 variables having strong correlation to rural market potential.

What are the 4 A’s of rural marketing?

Consequently, in case of rural marketing, the marketing mix has changed from the traditional ‘4 Ps’ to the new ‘4 As’, i.e., affordability, awareness, availability and acceptability. In fact, rural markets have unlocked new fronts for the modern marketers.

How many A’s are important in rural marketing?

four A’s
“A number of companies have worked on various elements of the marketing mix to improve the four A’s — affordability, awareness, availability and acceptability — for rural markets,” he says. “FMCG companies innovated on package sizes to introduce low price points.

What criteria are used for rural consumer market?

Rural consumers can be segmented on the basis of demographic factors like age, income, family structure, landownership etc. Some of the demographic variables are explained below: i.

How is segmentation done for rural markets?

Rural market segmentation is the process of dividing a potential rural market into distinct sub markets of consumers with common needs and characteristics. Rural market segmentation is the starting step in applying the rural marketing strategy.

What is the future of rural marketing?

“The Indian rural market has gone beyond consumer products and agri-input marketing. Total rural income, which is now at around $572 billion, is estimated to reach $1.8 trillion by 2020-21,” Dr. Roy added. He further said that India’s retail FMCG market could grow from $10 billion presently to $100 billion by 2024-25.

What is the first and basic strategy for rural marketing?

The first and most important strategy of rural marketing is the proper segmentation of the rural market. In this process, a potential rural market is segmented into distinct sub-markets of consumers with common needs and characteristics.

Which is the most important tool for developing the rural market *?

transport and communication
The modern means of transport and communication are the most important tool of developing the size of rural marketing. The increasing transportation and communication facilities have widened the market for farm products.

What are the rural requirements to develop the rural markets?

ADVERTISEMENTS: Eight factors which contributes to the growth of rural markets are as follows: 1. Government initiatives 2. Rising literacy levels 3….Urban influence.

• Government initiatives:
• Rising literacy levels:
• Infrastructural facilities:
• New employment opportunities:
• Rising mass media:
• Agricultural research:

What is the target of rural marketing?

In a rural society, there are grades of people based on income, occupation and wealth. The educated youth, innovative farmers, village president are the important opinion leaders and marketers are targeting this group for promoting products and services.

What is the Thompson rural market index?

THOMPSON RURAL MARKET INDEX Based on the statistical analysis the districts have been classified as A B C D and E class markets. Classification of MarketsClass of Markets Index Range No.of Districts Percentage of Mkt A 60 to 100 22 17.80 B 40 to 59.9 39 20.50 C 30 to 39.9 54 20.40 D 20 to 29.9 86 23.00 E Below 20 154 18.30 TOTAL 355 100 33

What is the market for agricultural inputs?

The market for agricultural inputs is predominantly rural and relatively well established. Marketing in rural areas has a varied conceptual dimension as the events occurring in markets are necessarily taking place in a set of conditions affecting the rural dwellers and institutions hinterlands.

What is the marketing mix for rural markets?

MARKETING MIX FOR RURAL MARKETS1.Segmentation and Targeting Rural consumers are not homogeneous2.Product Mix Smaller Packages Sturdy Utility products3.Price Mix Low cost 13 14. 4. Distribution Mix It should be strong because less population density poor transport and communication scattered outlets5.

What is rural market in Indian economy?

The rural market in Indian economy generates almost more than half of the country’s income. Rural market covers all marketing activities ascertain the demand, product planning, distribution and facilitating the entire marketing process, with aim of satisfaction of rural consumer.