The rural market in Cambodia is not only a separate entity in itself and it is also highly influenced by the sociological and behavioral factors operating in the country. The rural population in Cambodia accounts for around 74.8 percent of the total population.
A number of corporate companies have tried a variety of strategies to establish a foothold in the rural market. There is no doubt that the rural market offers businesses ample opportunities. However, it is not as simple as it appears on the surface. It is not easy to enter and succeed in this market without hardship.
Agriculture is the primary source of revenue. The income is seasonal. It fluctuates as well because it is dependent on agricultural production. Despite its size, the rural market is decentralised. It demonstrates cultural differences, as well as economic disparity.
The market is underdeveloped because the people who make up the market lack sufficient purchasing power. It is primarily agriculturally focused, with low living standards, low per capita income, and socio-cultural backwardness.
Challenges in rural marketing
- Availability of appropriate media
- Small and scattered villages
- Inadequate banking and credit facilities
How to market your products in rural areas?
- Partnering with local companies and promoting products at their sites
- Participating in local events and building a presence
- Investing in local philanthropy
- Recruiting local celebrities to serve as ambassadors for you and your networks, who can share, educate, and promote your products
Before a rural customer pulls money from his pocket to pay for the product, he has to be 120 percent satisfied. To be effective, the marketing mix must provide superior value to the rural consumer at a price point which he can afford.
As a result, rather than treating rural markets as inconvenient and poor extensions of the urban market, ruralising strategies might benefit them. Organizations must develop rural-specific products and communications, as well as find new distribution models.