This study examines how advertising strategies, namely, content, media, and design, influence brand-building efforts in rural markets, with a specific focus on the mediating role of content relevance. Anchored in the Elaboration Likelihood Model (ELM), the research recognizes that rural consumers often process advertising through the peripheral route, relying on visual, linguistic, and cultural cues rather than rational evaluation. Data were collected through a structured survey of 498 rural consumers across thirteen towns in Madhya Pradesh. Using covariance-based structural equation modelling, the study finds that advertising content (β = 0.353), media (β = 0.253), and design (β = 0.298) significantly affect brand perceptions. More importantly, content relevance emerges as a key mediator, with indirect effects ranging from β = 0.180 to 0.243 (p < 0.01), indicating that rural consumers are more likely to engage with advertising that aligns with their values, language, and lifestyle. Theoretically, the study extends the ELM framework to low-involvement consumer settings and highlights the nuanced role of cultural relevance in shaping brand engagement. Practically, the findings offer marketers a roadmap for creating locally adapted and emotionally resonant campaigns that move beyond urban-centric models. This research underscores the im-portance of designing inclusive advertising strategies that build lasting brand relationships with India’s diverse rural population.

This study assesses the impact of mergers and acquisitions on Environmental, Social, and Governance (ESG) performance and market value of acquiring companies operating in India. Data were collected and analyzed from 69 M&A announcements from January 2010 to June 2023, sourced from the Bloomberg database. The analysis reveals a positive correlation between the post-merger market value of acquiring firms and their ESG performance, indicating that an improvement in ESG factors is associated with increased market value after mergers. Additionally, a positive correlation was identified between acquiring companies’ post-merger ESG performance and their target firms’ pre-merger ESG performance. This finding suggests that when acquiring a target firm with high ESG performance, the acquirer is likely to experience an improvement in its own post-merger ESG performance. Moreover, both the post-merger market value and ESG performance of the acquirer are likely to improve with the profitability and size of firms but will have a negative impact based on the leverage components of the acquiring firms.