If you have noticed, then you would have observed that rural market is undergoing a rapid change and now big companies are paying more attention to the rural market.  What is the reason of this paradigm shift?  What are the factors that have contributed to such phenomenal growth of the rural market.  Listed below are the factors that have contributed to the growth of rural markets.

• New Employment Opportunities:
  
  Industrialization of rural areasnhave created new employment opportunities and this has led to an increase in the purchasing power.  Now people are willing to spend more on product.
• Green Revolution:
  
  Green revolution was a great technological breakthrough that completely changed the picture of Indian agriculture.  High Yielding seeds drastically improved the output and made farming more profitable for rural people.
• Rise in Expectation Among Rural Masses:
  
  In the recent years, there has been a rise in expectation among the rural people and they now want to improve their standard of living.  They now are willing to spend more for a comfortable life.
• Favorable Government Policies:
  
  Favorable government policies is also one of the major factor that has led to the growth of the rural market.  Government offers subsidies to rural people and also to businesses for doing business there.  This has drastically improved the income of the rural people.
• Literacy Growth:
  
  The literacy rate is increasing in the rural areas.  Rural people are becoming more aware now.  They are now more knowledgeable and well informed.
• Attraction For Higher Standard of Living:
  
  With the increase in the purchasing power and awareness about new products, there is a growing attraction among rural people for higher standard of living.
• Marketing Efforts:
  
  Many big Indian and multinational companies have realized the importance of rural markets and they have run many a aggressive marketing campaigns of their product.  Due to those marketing efforts. rural consumers have become more receptive to new products.
• Spread of Cable Television:
  
  This could be termed as one of the largest factor.  The spread of cable television has ensured that rural people are kept informed of the latest product and services and they do not fall behind their urban counterpart. 

• Written by Arun Jain.
• In category Small Business.
• 13 years ago.

Hot Hits: 2671

Like it on Facebook, Tweet it or share this article on other bookmarking websites.