Rich New World: Re-connecting with rural India
Rural markets are emerging as the new haven for marketers driven by a strong desire to grow and expand their playing fields. Going rural is the new mantra in the Indian corporate world. LG, a leading player in consumer electronics in India, sees a high growth potential for Colour TVs (CTV), Refrigerators and Washing Machines amongst the new generation of richer, knowledgeable and upwardly mobile rural consumers. Hence, LG felt the need to explore and understand the lifestyles of the well to do rural consumers, especially in the context of these three categories, to come up with products that are customized to meet the needs of the emerging rural consumers.
The two key business objectives of LG with respect to the rural market were:
- Identifying opportunities for New Product Development (NPD) and Product Modifications that cater to the unique needs of the emerging affluent rural consumers better and help increase penetration;
- Developing a communication and promotion strategy that appeals to the growing aspirations of the well-off rural consumers, that will help in not only gaining a competitive edge, but also improving the ROI.