Turning the tide

Marketers have managed to turn the COVID-19 crisis into an opportunity through their innovative approach vis-à-vis generating demand and staying connected with consumers.

- GIRISH MAINRAI

COVID-19 has wreaked havoc not only on people’s lives but also on businesses. Established processes and models have been disrupted, and strategies—which appeared to be infallible in normal times—have proven to be fragile in the wake of the pandemic. And its impact is being felt right from manufacturing to availability of goods and services.

The current situation has demanded new thinking by strategists across the globe, and businesses have responded by not just relying on traditional acumen and instead devising unique strategies with respect to business structure, processes, and communication.

COVID-19—coupled with the lockdown— has unfolded new challenges for marketers too, in terms of demand, logistics, consumer confidence, revenue, and so on. They have risen to the occasion by implementing strategies catering to the context as well as emerging consumer needs; these have invariably incorporated elements of the marketing mix, such as product, place, and promotion.

These tools are undoubtedly part of usual business strategy, but the way marketers have tailored them to convert the crisis into an opportunity has made all the difference. And this approach has led to a win-win situation for both marketers and customers.

Product launch