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- Title
Unique and Unitary Marketing Strategies for Emerging Economies: Message from India.
- Authors
Acharyulu, Ramana; Agarwal, Vaishali
- Abstract
India is an emerging economy comprising of multi-layered, complex market segments, besieged with infrastructural and other geo-spatial challenges. Among these layers, exists the rural layer, whose markets are underdeveloped and underserved and largely remains the base of pyramid layer - with large numbers of micro-entrepreneurs, farmers, producers comprising a large producer base for production and marketing of several organized and unorganised goods and services. It also happens to be the largest consumer market in Indian economy. It offers immense potential for growth driven by emerging aspirational mode of lifestyle, emerging access to markets, goods and services and technologies in Indian society. However, rural marketing remains the biggest challenge for the innumerable manufacturers and marketers in this country. As a major proportion of population of India belongs to this layer of the economy, it continues to daunt both the marketers and policy makers to look for the ways to connect it; service it and interlink it with other layers for country's sustainable growth. In the last three decades, millions of self-help groups and many producers' enterprises came up, to address the challenges of marketing and creating market linkages in rural India. Some of them succeeded and others continue to evolve to address the needs of the rural economy. When the successes are studied and documented, their strategies showcase some unique ways in which they have developed successful marketing strategies. This paper makes an attempt to study the evolution of some of the marketing strategies where millions of individuals came together for collective benefit, rewriting the focus of corporate endeavours towards uncounted numbers of people as drivers of economy. Such an exercise, leads to construct a model for unitary marketing strategies vis-a-vis the conventional binary marketing strategies of Indian businesses. This paper attempts articulation of the concept of unitary marketing strategies with the help of three unique marketing organizations, Amul, ITC and Patanjali, as they evolved and matured their business models and demonstrate its significance. The methodology of examining these three cases to offer a macro perspective on the evolution of their marketing strategies - starting from creating market linkages to building vertical integration and subsequently towards the creation of a unitary marketing strategy that connects the millions of producers and developing them as consumers for the very goods and services that they were instrumental in producing, helps appreciate the development of an integrated eco-system where producers, marketers, consumers, and retailers all come together to unify the economy. Even though it differs from the conventional research and developing empirical models to argue the presence and significance of a theoretical framework and a business model, it helps capture the macro perspectives of strategy making and execution to deliver the strategic intent.
- Subjects
INDIA; VERTICAL integration; EMERGING markets; SUPPORT groups; MARKETING strategy; BUSINESS models
- Publication
3D: IBA Journal of Management & Leadership, 2020, Vol 12, Issue 1, p7
- ISSN
2230-7524
- Publication type
Article