Resilient in the face of challenges, emerging markets of India today have become a force marketers cannot afford to ignore. ‘Real India Conclave’ is an attempt by Jagran and exchange4media to bring to the forefront the huge opportunities that are waiting to be tapped in the emerging states of India. It is a thematic forum and the first edition focuses on the state of Bihar.
Media consumption growth
According to Satyajit Sen, CEO, ZenithOptimedia, everyone is looking at growth, especially the growth coming from beyond metros – the emerging markets, the small towns. “What’s driving it is the growth of media consumption; regional media is coming up, regional channels are doing well,” he said. In terms of newspaper growth, Bihar is significant. So, there’s “real energy” here, he noted.
Agreeing with Sen, Shashi Sinha, CEO, Lodestar UM, observed that India is a young country and growth is strong in emerging markets. People in these markets have aspirations as well as exposure to media. “TV is playing a critical role. Any guy sitting in Bihar is aware of what is happening in the US, for example,” Sinha pointed out.
What’s important is in terms of the growth of consumption, literacy, income, aspirations – small towns are growing everywhere. So, there will be growth across markets, especially Bihar; economists, too, are talking about Bihar. “I’ve seen data that show Bihar’s growth as dramatic, and there are some inspiring stories about Bihar. If Bihar starts reducing a per cent of its agricultural population (the labour population that it is exporting to other states), it’s a great story,” said Sen.
If it’s Hindi in the Hindi belt, in Bihar it is the local medium – Bhojpuri. So micro-segmentation is coming up with commercially productive options and financial benefits too.
There will be a certain social reality which will happen in many states and will drive certain amount of consumption, and Bihar is certainly one of them, noted Sen. From marketer’s point of view, whether it is Reckitt Benckiser or Usha or FMCG products, Bihar is an important market; clients want to work there. Therefore, Bihar will continue to have local pockets of affluence. “With films such as ‘Gangs of Wasseypur’ and ‘Dabangg’, there has been romanticisation. Yes, Bihar has been a laggard for a while, but is now catching up,” Sen concluded.
The first session of Real India Conclave will take place on June 29, 2012 at Taj Mansingh, New Delhi.