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COVID-19 (Corona virus Disease) is a disease which is caused by a virus named Corona virus. This was first identified in Wuhan, China in December 2019. Since then the virus is being spread all over the world. Now it has been identified as a global pandemic. This virus is primarily spread between people during close contact. According to WHO social distancing is the best way to prevent the spread of disease. And the people are asked to stay at home as a prevention measure. Food industry can be defined as an industry which is a complex global collective of diverse businesses that supplies most of the food consumed by the worlds population. Since people are staying home, consumer buying patterns have been changed as well. Therefore we need to evolve the marketing to strategies accordingly in crisis situations as such.
People tend to do panic buying and store the essentials since they cannot get out of the house. During a pandemic the demand for food items such as; rice, dhal, vegetables, canned food, processed food&etc go high. It is same with the items such as; toilet papers, tooth paste, sanitizers, cleaning equipment&etc. People tend to buy these things in large quantities. Therefore the sales will up. On the other hand since the demand goes higher than the supply, there can be a shortage of food and other essential items. During a period of stay-at-home people will depend more on home cooked food and canned food since they have time to cook their own food. On the other hand most of the restaurants will be closed during a period of stay-at-home. Therefore the demand for restaurant food will go down and the demand for raw and canned food items will go high. Travel restrictions will impact on tourism and hospitality which will indirectly affect on foreign exchange. During a pandemic people will tend to do online shopping rather than going to the stores. It will also affect on the industry. And when it comes to the daily wage employees, they wont have an income since they wont be able to work. Therefore they will have financial problems and wont be able to buy foods and other items as they wish. And that will also (slightly) affect on food industry.
Negative sentiments and economic slowdown can be occurred during a pandemic. To overcome them marketers should have some tools such as; resilience, innovation, agility and empathy. As the customers are practicing social distancing and stay-at-home, marketers also must reach out them where they are. For that marketers should evolve their marketing strategies accordingly. First of all marketers should be anticipate to the consumer. Social distancing and staying at home can cause some physical and mental issues to people such as; stress, loneliness, boredom, non-communicable diseases&etc. Since people cannot meet others; a new app of social media can be introduced to the market. And people can get non-communicable disease as they stay at home all day. For that the marketers can develop software and release it. Then the people will tend to buy them.
Leverage technology is the second marketing strategy that should be evolved. During a period of quarantine it has become a challenge to fulfill customer needs due to limited resources, stocks running out, rising online orders, prioritizing essentials&etc. Marketers can give priority to essential orders, adjust shopping hours for senior customers, and ensure fair prices. And it would be very beneficial for the marketer, if they develop an online mixed creative new delivery system to fulfill consumer needs. Amazon is an example for a company which took many measures to support their customers.
Be present in the digital world is third marketing strategy. During a period of stay-at-home people tend to use more and more online platforms through mobile devices and computers. They will tend to spend their time by using social media such as; facebook, instagram, twitter, pinterest&etc and connect with the outside world. Also people will do their shopping through online shopping. Therefore marketer can do their advertising and marketing on online platforms. Also marketers have to concern about quality, safety, cleanliness, and can promote their services through advertising companies. McDonalds is an example for a company which does their advertising focusing mainly on consumer safety.
During pandemics companies should focus on their customer experience more than ever. Marketers should give their customers the idea that theyre going to be there for them through thick and thin. Technologic giants such as; YouTube, Facebook, Microsoft, LinkedIn, Google&etc have joined their hands to give technological and financial support to the governments. They also issued a joint statement to help combat fraud and misinformation.
Transforming into a purpose-led brand is another marketing strategy that has to be evolved. It is necessary to take quarantine and lockdown measures in order to prevent spreading the disease. But this may affect the peoples mental and physical health. Since the kids cannot go outside to the school or to play they are stuck in their houses. If the marketers can develop a software or an app to engage these kids in something interesting, it will be useful for the adults as well. Because then they wont have to worry about their kids unnecessarily. And the marketers can develop apps or softwares based on health and physical activities. It will be beneficial for the seniors who have health issues. Also they can introduce apps to entertain the seniors. Marketers can develop softwares to earn money while staying at home. During this period of quarantine some people might be suffering from financial issues. Therefore they will tend to buy apps or softwares which they will be able to earn money easily.
COVID-19 is a pandemic which has turned the whole world upside down. None of us can predict what will happen next or when it will end. Therefore to survive this pandemic and rise once again, marketers must stay sharp. They should understand, anticipate and fulfill the consumer needs, leverage the right technology to face the challenges and problems successfully, being considerate about the spending, and focus mainly on helping consumers to overcome their problems. Then it will help to develop a very loyal customer base which is very much necessary to expand and succeed in their business.
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