1) Explain the concept product policy in Rural Markets. Please help a company in the steps for launching a new brand of Smart Phone in Rural India. (10Marks)
Ans:
Introduction:
A product plan is a vital facet of the advertising and marketing mix that relates to the choices taken by a firm concerning its product offerings, including its functions, packaging, prices, and branding, to name a few. In the context of country markets, product plan assumes a greater significance due to the distinct difficulties and opportunities these markets provide.
Concept & Application:
Rural markets describe the locations or regions characterized by a low population density and a considerable presence of agriculture-related tasks. These markets can be located in towns, towns, and even remote areas far from the city. Country markets are different from city markets, as they have unique attributes and difficulties that need details strategies to satisfy the needs of the rural population. The capacity of rural markets is substantial, and recognizing their nature and dynamics can assist services in tapping into this profitable market segment.
Conclusion:
A tactical product plan can help a business efficiently release a new smartphone brand in India. The company should perform extensive marketing research, create an appropriate product, design attractive packaging, create a practical branding approach, and rate the product competitively. While there are challenges to introducing products in rural markets, a successful product policy can help companies use a largely untapped market and develop a favorable brand image.
2) Why does Rural Infrastructure play an important role in development of rural Markets? Explain the role of government fertilizer subsidy in rural development. (10Marks)
Ans:
Introduction:
The country framework plays a crucial role in the growth of country markets because it provides the foundation for financial tasks and market development. Rural facilities refer to the basic physical and organizational structures and centers required for rural areas’ growth. These facilities may include roads, bridges, water supply systems, power, telecoms, and other essential services. In this essay, we will discover the importance of a country’s infrastructure in developing country markets and the function of government plant food subsidies in country advancement.
Concept & Application:
Farming is the backbone of many establishing economic situations and is the primary livelihood resource for most of the country’s population. However, farming in several creating nations encounters challenges, including reduced productivity, poor framework, and restricted accessibility to inputs such as fertilizers. Governments around the globe have attempted to address these obstacles through various policies and programs, consisting of fertilizer aid.
Conclusion:
Finally, country infrastructure plays an essential function in advancing country markets by offering the foundation for financial tasks and market development. The availability of fundamental physical and business frameworks and centers such as roadways, water systems, and power facilitates the establishment and growth of industries, which develops employment possibilities and contributes to the development of the regional economy.
3) Case study – Commotion
Mr. Verma the vice president of Symptom Agro Company was in the middle of a serious Marketing meeting, the sales numbers were not as per target and he was trying to find the reasons of sales loss in many regions and discussing with his team how they could recover the lost sales
The company had launched two new products in the North markets and also spend substantial funds in promoting the same, the first two months had witnessed the major sales growth was from the new products the existing products were also doing well but not as per targets
The sales targets from both the new and existing products was high and Mr. Verma and has team found it difficult to achieve
In the middle of the meeting a call from the field changed the entire scenario and Mr. Verma cut short the meeting and suddenly left for the fields
A large crowd had gathered at the distributor’s office and was demanding compensation for the cotton crop failure, due to use of the new agrochemical, the crowd was very violent and restless for the compensation
Mr.Verma pacified the crowd and assured them the product was a new invention from a leading company of Japan and being marketed by a reputed company in India , the quality of the product was good and as per prescribed specifications , during visit to the fields of various farmers and the discussions with them it was found the usage of the product was wrongly timed and not used as per protocols , the farmers blamed the local representative and the local dealer for their advice in the matter , the wrong usage had spoiled most of the cotton crop sown and hence this commotion
The company Symptom was reputed and had a strong reputation and market share in the area Mr Verma had no option but to agree for compensation keeping in view the company reputation and market share of products in the area, he called the local representative and the dealer to his office for a training session.
a) What in your view led to the unrest and commotion in the market? Was it the fault of the company? (5Marks)
Ans :
Introduction:
The agitation and turmoil in the market resulted from the failure of the cotton crop, which was caused by the inappropriate use of the new agrochemical product released by Symptom Agro Business. The farmers condemned the regional representative and dealership for their suggestions on using the product, which brought about the plant failure.
Concept & Application:
Nonetheless, it is essential to remember that it is only partially the firm’s mistake. Signs And Symptom Agro Company had launched a new agrochemical product, which was evaluated and approved by the pertinent authorities. Additionally, The business provided clear directions and methods for using the product and interacting with the neighborhood reps and dealerships.
Conclusion
In conclusion, the agitation and commotion in the market were caused by the failure of the local reps and dealerships to supply correct guidance to the farmers on the usage of the new agrochemical product. While Sign Agro Firm might not be responsible, it is still in charge of guaranteeing that its products are used correctly and taking appropriate actions to maintain its track record and market share.
b) What in your opinion led to acceptance of the compensation by the company? (5Marks)
Ans:
Introduction:
Symptom Agro Company had recently launched two new products in the North markets and needed help achieving sales targets for existing and new products. Nonetheless, the situation transformed significantly when a large crowd gathered at the representative’s office, requiring settlement for the cotton plant failure because of the use of a new agrochemical.
Concept and Application:
The approval of payment by Symptom Agro Business was because of the following factors:
1 Damage to the company’s reputation: Sign Agro Business had a solid reputation and market share in the area. The failure of the new agrochemical and the resulting crop damages could harm the company’s reputation. Giving compensation was a way to restore the business’s credibility.
Legal implications: The mad group and their demands for payment could have led to a lawsuit against the firm. Symptom Agro Firm consented to compensate the affected farmers and avoided any prospective legal action.
Conclusion:
In conclusion, the approval of the settlement by Symptom Agro Business resulted from the prospective damages to the business’s online reputation, legal effects, complete consumer satisfaction, and future sales. While it aided the firm in keeping its credibility and preventing legal action, it also resulted in a monetary loss and possible negative attention.
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