“BUZZ”- A Spontaneous Marketing tool in the rural market for financial products.
Many companies dealing the financial products have identified the Indian rural population as a spectacular potential market for promoting their products. Ms. Bhasin of Axis Bank said they want to tape the rural market to promote the insurance products and started the discussion with the private insurance players to enter in to this mass with small ticket size products to capture a larger size rural market. All the financial product players paved their attention to the rural mass to promote their products.
Most of the rural dwellers believe in men than media. If the message of a concept or service or package brought to them through a mass media most of the time they take it as an entertainment only. The same message will be blindly believed when a man makes it. Some time they are eager to know more but they do not voluntarily initiate anything to know about it. The message is ignored very often. The knowledge about the service or concept or package does not reach them to create interest and / or desire.
Now the big question is how to create interest or desire in the rural mass?
A Spontaneous tool to attract the rural customer is creating “BUZZ”.
According to Emmanuel Rosen, “BUZZ” is the aggregate of all person to person communication about a particular product, service or a company at any point of time”. “BUZZ” is a continuous humming, informal thrill and quick attraction of attention to signal the informal word or speech in a fashionable manner to others. The companies creating positive “BUZZ” will conquer the rural minds. This paper throws a light on creating of Buzz among the rural public to facilitate effective marketing of financial products.
About the Author:
Dr. A. Oliver Bright M. Com., MBA, PhD,
Professor and Head,
Dept. of Management Studies,
Francis Xavier Engineering College,