Author(s): Anish K Ravi
As the global economy continues to grow, companies are seeking new markets to expand their business. Rural markets have emerged as the next big target due to their vast and untapped potential. This review paper examines the factors contributing to the growth of rural markets, the challenges and opportunities in these markets, and the strategies that companies can use to enter these markets. The paper discusses the economic and social factors that have led to the growth of rural markets, as well as the challenges companies face, such as lack of infrastructure and low literacy rates. The paper also highlights the opportunities that rural markets offer, such as access to a large consumer base and lower competition. Furthermore, the paper provides case studies of successful companies that have entered rural markets and discusses the different strategies that companies can use to enter these markets, such as localization, innovation, and partnership. The paper concludes by summarizing the key points and discussing the future potential of rural markets, emphasizing how companies can prepare for this. Overall, this review paper provides a comprehensive analysis of the rural market and its potential as the next big target for businesses.