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Marketing and Consumer Behavior during COVID19

June 03, 2020 AARUSHI JAIN 0 Comments


Marketing and Consumer Behavior during COVID19

-         AARUSHI JAIN

This is a report on the webinar-MARKETING & CONSUMER BEHAVIOR DURING COVID-19. It was held on 03rd June, 2020, Wednesday from 08:00p.m onwards. This webinar is organized by EMPOWER PEOPLE and Khyati Arora handled all the key speakers and interacted with them about the child sexual abuse.

The key speakers are as following -:

  • ·        Nadia Kanwal (Director of Digital Marketing & Founder,
  • ·        Sanju Skaria (Logistics Specialist - Service Marketing)
  • ·        Subhan Ali (Sr. Relationship Manager, Morris Garages)
  • ·        Rishi Kumar (Supply Chain Engineer)

This webinar will include discussions on marketing, digital marketing, life before and after COVID19 for consumers, how the pandemic is shaping consumers and what the future may look like.

In marketing, understanding consumer behavior has become very important for businesses. Consumer behavior refers to the study which analyzes how consumers make decisions about their wants, needs, buying or act with respect to a product, service or organization. It is very critical to understand the behavior of consumers to analyze the behavior of potential consumers towards a new product or service. It is also very useful for companies to identify opportunities which have not yet been met.

 The companies have been articulate in handling the challenges of consumer buying behavior. The present scenario of Covid-19 is no exception for the brands. Most of the brands are showing the variations in their marketing communication to influence consumer choice. As stay-at-home and social distancing orders took hold in the spring, customers relied even more heavily on digital and mobile platforms as their smartphones became a lifeline to the outside world.

Spicer has seen three major shifts in consumer buying habits:

  • ·        Home: People are spending more time in their homes, which has both practical and emotional effects.
  • ·        Nostalgia: Change gives rise to anxiety, and anxiety triggers consumers’ nostalgia for happier times.
  • ·        Self-reliance: The typical consumer is taking on more responsibility for tasks they would normally hire some­one to do for them or outsource. 

So this webinar is about marketing and consumer behavior during covid-19. The economy of many countries has shared up and it has highly affected the consumer behavior. When we talked about online businesses in the scenario of covid-19 this has popped up a lot of people who do not know any things about online businesses are now shifting their business on an online mode because this was only option left for the people and truly it helped a lot in this pandemic time. In the present scenario people are holding their money because the inflow has stopped now the hire marketing is targeting on a lower segment and the lower segment is going into the budget segment. So people are spending less and saving more different industries are coming as Netflix and prime so there is a different shift to a marketing, yes we are shifting towards a different market so we have to be prepared and updated.

So in the crux of this webinar I would like to tell you that nothing is stable and we should adapt changes as soon as possible. In response to these new behaviors, brands proactively showed customers how they fit into new routines and expectations. The brands have to exploit the new brand communication which minimizes the psychological impact in the consumer’s minds. The positioning strategies will be different. The new technology and strategies may open new avenues to the brands and they may be able to influence consumer behavior.