The Aftermath Of The Global Coronavirus Pandemic
The current pandemic has become an unavoidable topic among marketing firms, agencies, and institutions. As dramatic as the topic is, what the world is currently experiencing is nonetheless an issue that needs to be explored and discussed.
Read the following articles:
What The Aftermath Of The Global Coronavirus Pandemic Will Mean For Luxury Brands (Links to an external site.).
Understanding Consumer Shopping Amid Coronavirus Pandemic (Links to an external site.).
Conduct additional research on the sudden shifts in consumers’ shopping behavior in the last 2 months.
Answer the following questions:
what differences and similarities can be observed between consumer behavior in the anticipation and aftermath of a natural disaster (such as hurricanes, earthquakes, tornadoes), terrorism (9/1), and a global pandemic such as COVID-19, aka “Coronavirus”?
why do consumers, in the wake of a massive tragedy, tend to engage in irrational shopping behavior, such as hoarding more than they can consume, as well as perishable products?
list and briefly discuss 3 market segments or businesses that have been severely impacted the most, in the last 2 months
think as a marketer: how do you curb the impact of such drastic events? In other words, how can one retain customers, maintain a flow of sales, and project consumer confidence?