COVID 19 Pandemic has put the Indian economy into a tailspin. This obstreperous situation has affected all the corners of the Indian Economy and made it the talk of the town. The Indian economy is grinding to a halt. The repercussions will be visible in all the sectors of an Indian economy. With lockdown, daily life is completely upended. Marketers have to take probable steps to deals with the new normal situation. Amid the coronavirus Pandemic situation, marketers have to rethink about their target audience. To succeed, marketers have to adapt, find new ways to position themselves and remain relevant in the mind of their customers.
Paradigm shift in marketing practices during covid 19 pandemic
1. Paradigm Shift in Marketing
Practices
During
COVID 19 Pandemic
Dr. Smriti Mathur
Assistant Professor
Babu Banarasi Das University, Lucknow
PhD (Commerce), UGC NET (Commerce)
M.Com (Applied Economics)
8. 27-08-2020
According to a Report by 4A's - The American Association of Advertising
Agencies
Happy to hear how brands are helping out communities in response to the Coronavirus
Pandemic
56 % of Consumers -
Find it reassuming to hear from brands they know and trust during these uncertain times
43 % of Consumers -
Wants to hear from brands they know and trust during these uncertain times
40 % of Consumers -
Did not want to hear from brand this time
15 % of Consumers -
Latest Research illustrates the positive attitudes that consumers have towards
brand communications related to the Novel Coronavirus Pandemic.
16. Adopt lean principles to guide efficient
analytics and insights functions.
Prioritize requests to deliver data and insights
faster.
Embrace agile principles to guide teams
through uncertainty.
19. “FedEx is proud to play
an active role in
improving lives and
creating possibilities,
whether it's by donating
critical relief supplies or
helping locally through
our volunteering
initiatives. We are
committed to supporting
the communities in
which we live and work,”
said Jack Muhs, regional
president, FedEx Express
Middle East, Indian
Subcontinent and Africa.
36. According to Kiaus Schwab,
Founder and Executive Chairman of
the World Economic Forum -
“In the New World, it is not Big Fish which
eats the Small Fish,
It's the Fast Fish which eats the Slow Fish”