ASSIGNMENT NO - 04

MINI PROJECT

SUBMITTED BY: - YASHAVANTH KUMAR H

CLASS: - II MBA (MARKETING)

REG NO: 20OKCMD151

SUBJECT: - RURAL MARKETING & AGRICULTURAL MARKETING

SUBMITTED TO: - Pro. RAJNI GUPTA

SUBMITTED DATE: - 24/01/2022

Questionnaire:

Q1. Describe what does ‘brand’ mean to you?

___________________________________________________________________________________

Q2. Do you buy only branded products?

a) Yes always
b) Never
c) Only when quality is important
d) Rarely

Q3. Are you a loyal customer for the products you buy?
a) Yes always. I stick to the same products.
b) Never. I keep experimenting with new products.
c) Only for quality products. Where it is a commodity, I choose the least-priced product.

Q4. Are you a price sensitive consumer?

a) Yes b) No

Q5. Will you stick to the same product if their price is increased (and you are a loyal customer to
the product)?
a) Up to a certain limit in price increase
b) Yes, irrespective of the price increase
c) No. I may look for different products

Q6. Which of the following, according to you, help build a good brand image?
a) Quality
b) Communication strategies
c) Competitive pricing
d) Good value added services
e) Free trails and discounts
f) Others If ‘Others’, please specify ________________________________________________
Q7. Are popular celebrities good brand ambassadors and is investing in them a good strategy?
a) Sometimes, May be
b) No, No
c) Yes, Yes
d) Rarely, Not sure

Q8. Do you use products because they are most available?

a) Yes b) No c) Mostly

Q9. The brand product which you that products which satisfied your expectation?
a) Yes b) No c) somehow

Q10. What is the proportion of branded to unbranded products in your house?

a) 20 : 80
b) 50 : 50
c) 60 : 40
d) Other _______________________

Q11. Do you experiment with different brands?

a) Yes b) No c) Sometimes

Q12. You trust the brand which you buy

a) Strongly disagree
b) Disagree
c) Neither agree not disagree
d) Agree
e) Strongly Agree

Q13. The price of brand product?

a) Is as per your expectations
b) Is more than your expectations
c) Is less than your expectations
d) Can’t say
Q14. What is the quantity of the product you use in a month?

Q15. What are the sources of product brand information?

a) Family members b) Peers
c) TV ads d) Point of sales
e) Website f) Other ____________________

Q16. To what extent has the product been successful to meet your needs?
a) To the fullest extent
b) More than 80%
c) 50% – 80%
d) Less than 50%
e) Can’t say

Q17. Rank the packaging and product information of the product with 1 being the least and 5 being
the highest
a) 1 b) 2 c) 3 d) 4 e) 5

Q18. Rank the after sales service of the product, 1= least and 5 = highest
a) 1 b) 2 c) 3 d) 4 e) 5

Q19. How much do you care about using brands?

a) Slightly
b) Strongly
c) Not much
d) Never

Q20. Do our products align with the values and beliefs of people?
a) Yes b) No c) Can’t say

Q21. Can you list some areas of improvement of the product?

______________________________
Segmentation:
The first step of the STP marketing model is the segmentation stage. The main goal here is
to create various customer segments based on specific criteria and traits that you choose. The
four main types of audience segmentation include:

1. Geographic segmentation: Diving our audience based on country, region, state,

province, etc.
2. Demographic segmentation: Dividing our audience based on age, gender, education
level, occupation, gender, etc.
3. Behavioral segmentation: Dividing our audience based on how they interact with your
business: What they buy, how often they buy, what they browse, etc.
4. Psychographic segmentation: Dividing our audience based on “who” your potential
customer is: Lifestyle, hobbies, activities, opinions, etc.

Targeting:
Step two of the STP marketing model is targeting. Your main goal here is to look at the
segments you have created before and determine which of those segments are most likely to
generate desired conversions (depending on your marketing campaign, those can range from
product sales to micro conversions like email signups).

Your ideal segment is one that is actively growing, has high profitability, and has a low cost of
acquisition:

1. Size: Consider how large our segment is as well as its future growth potential.
2. Profitability: Consider which of our segments are willing to spend the most money on
our product or service. Determine the lifetime value of customers in each segment and
compare.
3. Reachability: Consider how easy or difficult it will be for us to reach each segment
with our marketing efforts. Consider customer acquisition costs (CACs) for each
segment. Higher CAC means lower profitability.
There are limitless factors to consider when selecting an audience to target – we’ll get into a
few more later on – so be sure that everything you consider fits with your target customer and
their needs.

Positioning:
The final step in this framework is positioning, which allows us to set our product or services
apart from the competition in the minds of our target audience. There are a lot of businesses
that do something similar to us, so we need to find what it is that makes us stand out.

All the different factors that we considered in the first two steps should have made it easy for
us to identify your niche. There are three positioning factors that can help us gain a competitive
edge:

1. Symbolic positioning: Enhance the self-image, belongingness, or even ego of our

customers.
2. Functional positioning: Solve our customer’s problem and provide them with genuine
benefits.
3. Experiential positioning: Focus on the emotional connection that our customers have
with our product, service, or brand.

The most successful product positioning is a combination of all three factors. One way to
visualize this is by creating a perceptual map for our industry. Focus on what is important for
our customers and see where we and our competitors land on the map.

STP marketing strategy:

I covered the three stages of the STP marketing model, looked at the benefits and examples of
this approach. While this provides us with an excellent overview of the concept, we want to get
into the detail of creating an STP marketing strategy that serves our business.

Below i will find 7 steps to creating a solid marketing strategy using the full STP model.

1. Define the market:

The global market is far too big and far too vast for anyone – even the biggest corporation with
the most resources – to address. That’s why it’s important to break it down into smaller chunks
and clearly define the part you are going after.

Typically, to evaluate your business opportunity, you will need to define your TAM, SAM, and
SOM: Total Available Market, Serviceable Available Market, and Serviceable Obtainable
Market.

There are several routes you can choose when defining a market. You can do so by:

• Industry classification (retail)

• Product category (food and beverage, etc.)
• Country (India, etc.)

2. Create audience segments

Now that we adequately defined our target market, it’s time to segment it using geographical,
demographic, behavioral, and psychographic variables.

Each segmentation variable helps us tap into a different aspect of your audience and when
we use them in unison we can create niche segments that really make an impact on our overall
marketing effort.
3. Construct segment profiles:
When we’ve landed on our viable market segments, it’s time to develop segment profiles.
Segment profiles are very similar to our ideal customer personas but they act as subsets of our
main persona – they are detailed descriptions of the people in each segment.

Describe their needs, behaviors, demographics, brand preferences, shopping traits, and any
other characteristics. Each profile should be as detailed as possible to give you and your
business a good understanding of the people within each segment. This will allow you to
compare segments for strategy purposes.

4. Evaluate the attractiveness of each segment

Cross-referencing your findings with available market data and consumer research will help
you assess which of your constructed segments can bring in the biggest return on your
investment. Consider factors like segment size, growth rates, price sensitivity, and brand
loyalty.

With this information, you will be able to evaluate the overall attractiveness of each segment
in terms of dollar value.

5. Selecting target audience/s

Now that we have detailed information on all of our segments, we need to spend some time
deciding which ones are the most viable to use as our target audiences.
Our Target audience will be the Rural market and we need to concerntrate on the rural market.
We’ll need to take into account your overall business strategy, the attractiveness of the segment,
and the competition that exists in that segment.

The best way to determine the most viable segment is by performing cluster analysis. Quite a
complex and technical topic on its own (check out this guide to get more insights), clustering
in the context of eCommerce segmentation means using mathematical models to identify
groups of customers that are more similar to one another than those in other groups.

Our ideal audience segment is one that is both large and still growing, and we are able to reach
with our marketing efforts. we’ll also want a segment that aligns with your business strategy –
it makes no sense to focus your efforts on a segment of men in Australia if you are phasing out
your menswear and don’t offer free shipping to Australia.

6. Develop a positioning strategy

Next, you need to develop a positioning strategy that will give you the best edge to compete in
the selected target audience. Determine how to effectively position your product, taking into
account other competitors – focus on how your positioning can win the largest amount of the
market share.

There are several positioning strategy paths you can follow:

 1. Category-based positioning – This calls for determining how are our products or
services better than the existing solutions on the market.
2. Consumer-based positioning – This calls for aligning our product/service offering with
the target audience’s behavioral parameters.
3. Competitor-based positioning – This is a pretty straightforward approach that calls to
prove us are better than competitor X.
4. Benefit-based positioning – This calls for proving the benefits that customers will get
from purchasing our product or service.
5. Price-based positioning – This calls for distinguishing based on the value for the money
people get when purchasing our product/service.
6. Attribute-based positioning – Competitors, price, and benefits aside, this calls for
zeroing in on a unique selling proposition that makes our product or service stands out
from the rest.
7. Prestige-based positioning – This calls for proving that your products supply a certain
boost in status to those who purchase.

7. Choose your marketing mix

The last and final step in this long and winding process is to actually implement our strategy.
For that, we will need to determine a marketing mix that will support our positioning and help
you reach the target audience(s) that you’ve chosen.

A marketing mix consists of the so-called 4 Ps: Product, Price, Place, and Promotion:

• Product: Here our product is Cold drink and we have taken into consideration factors
like variety, quality, design, branding, features, packaging, services, availability,
convenience.
Product plays a major role while launching a product and even there ia question that
whether the people they will accept our products or not?
• Price: compared to other competitor the price also less and we have taken into
consideration factors like pricing strategy, list price, penetration price, premium,
discounting, payment methods, credit terms, payment period.
While launching a product price plays a major role and even there ia question that whether
the people they will accept our products or not?
 • Place: we are concentrating on the rural market, we are taken into consideration factors
like channels, coverage, location, inventory, logistics, trade channels.
While launching a product place plays a major role and we need to find out the target
audience and finally even there ia question that whether the people they will accept our
products or not?
• Promotion: we had taken into consideration factors like advertising, public relations,
social media, sponsorship, influencer marketing, content marketing, product
placement, sales promotion.
While launching a product promotion plays a major role and we need to find out the target
audience and gives proper advertisement and sales promotion

A carefully-curated marketing mix will ensure business success. However, if you do leave gaps
in it, all the precious work you did at the previous stages might go to waste.

our goal is to position it as a high-end addition to their cold drink that targets concerns related
to teste and flavour. So we invest in print marketing and get our product featured in a couple
of popular magazines that skew towards the audience. we also make sure to price the product
accordingly so it indicates the price less category.

However, your packaging is cheap and poorly designed, while the product itself is sold in
drugstores.

References:

Lokhande, M. (2004). Rural marketing: a study of consumer behaviour. Indian Journal of

Marketing, 34(12).

Dhumal, M. N., Tayade, A., & Khandkar, A. (2008). Rural Marketing-Understanding the consumer
behaviour and decision process.

Dhivya, D. R. (2013). Consumer behaviour-a key influencer of rural market potential. International
Journal of Management (IJM), 4(5), 33-41.

Velayudhan, S. K. (2007). Rural marketing: targeting the non-urban consumer. SAGE Publications
India.

https://www.yieldify.com/blog/stp-marketing-model/

https://www.yieldify.com/blog/stp-marketing-model/

https://www.wisdomjobs.com/e-university/rural-marketing-interview-questions.html

https://www.slideshare.net/sunnygill131987/questionnaire-for-rural-consumer