Page 110 - DMGT509_RURAL MARKETING

Unit 6: Rural Marketing Research

6.1 Market Research Notes

Before the student starts learning Market Research, it may be useful to have a recap of Marketing
Mix Factors. Marketing has become an all pervasive discipline, in as much that no business,
industry can remain untouched by marketing. In the good old days, when there were only a
handful of manufacturers of a product, competition was limited or just not there. Marketing as we
understand it today was a luxury as it was not considered essential. Manufacturers made the
products and sold it in the market. The stress was on Sales. In India even up to sixties, in the
twentieth century, manufacturers were confident of selling their products at a profit without the
fear of some body under cutting them as there was enough business for all. Competition increased,
especially after India liberalized its economy, and the flood gates of international players were
opened. Now, the competition has become a vital force the business has to reckon with.

Figure 6.1: Market Research in Rural India

With increased competition, firms need to play their cards according to the competition and
market condition. Hence, the need to systematically understand competition and market
conditions and of Market Research.

Let us take an example. When you want to buy an expensive thing like a Motorcycle, how would
you decide to go about it? Most likely you will take some of these steps.
1. Check out on the different brands available by visiting motorcycle dealers.

2. Compare the prices, specifications like HP, after sales service, and dealer’s attitude towards
customers.
3. Ask your relations, friends, and colleagues who own bikes about their experiences, views
about different bikes.
4. Look for the advertisements in different media like newspapers, magazines, and TV to get
as much information as you can get about competitive bikes.
5. See your budget and then take a decision based on the gathered facts.
In a similar way, to a seller it is important to know what product the buyer wants, where he
wants it, what price he is ready to pay for the product, and how would he like to pay for it, by
credit card, cash, cheque, or by some hire-purchase arrangement? Getting the answers to these
questions is the task before MR.
Let us examine what constitutes marketing in the twenty-first century. To start with let us again
understand the Marketing-Mix factors as given below.

1. Market Research (including market survey, and analysis). This factor, as will be seen is
used for virtually all other Marketing Mix factors.

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