Market Potential and Promotional Strategies for VSPL Hybrid Paddy Seeds in Koraput District of Odisha

Abstract

Indian seed industry has contributed signifi cantly to ensure continued access to quality seed for the Indian farmers. VSPL is pioneer in the Indian seed industry which is working continuously for providing quality seed to farmers. VSPL wanted to increase their market share in Koraput district of Odisha. Therefore, a study was conducted in 2021 to assess the market potential of VSPL and to formulate promotional strategy for VSPL in the study area. Primary data was collected from 100 farmers and 20 dealers/distributers/retailers. Convenience sampling technique was used to select farmers and purposive sampling technique to interview retailers and distributors. The data collected was tabulated and analysed to get meaningful results. Hybrid paddy seed dominates the paddy seed market in the study area. The US Agriseeds, Mahyco, Dhaanya, Bayer, Syngenta, VNR seed and Rasi seed were the leading brands for hybrid paddy seeds in Koraput district. Majority of the farmers were small and medium farmers and they cultivated paddy primarily for self-consumption. Thus, the farmers preferred medium slender grain with duration of 120-125 days. Unawareness of the farmers about VSPL hybrid paddy seeds was the main reason behind poor market share of VSPL products. VSPL should give importance to promotional activities to improve its market share. Therefore, based on the key fi ndings of the study, 4P’s of marketing mix was suggested for VSPL hybrid paddy seeds. A promotional strategy and a promotional game were designed to promote the hybrid paddy seeds of VSPL in the study area.