Question

Marketing question

The Coronavirus pandemic is taking a heavy toll on businesses. Referring to Chapter 2, how should businesses respond to their strategic marketing planning for both short-term and long-term?

Answer 1

Pandemic covid19, is slowing down the world economy and increasing the death rates throughout the world. Creating a global emergency situation, the pandemic is having huge influence (negative) over every business and industry. Almost all the countries are affected with the virus, and are trying to save lives of Theit people by using lockdowns.

Precautions by the government of affected country and the decision to lockdown entire nation to prevent the spread of covid19, closed the business operations and slowed down the growth of every business organisations.

Considering the seriousness of the pandemic and to bring the situations under control, the marketers must remain stable and plan for short and long term gains. They need to consider the circumstances and try to transform their operations for offering required products like, face masks, sanitisers, medical equipments, healthcare facilities, etc. It will help the people and also keep them in business, making them socially responsible units. They can take the advantage of internet and online marketing platforms to reach out the people and help them get what they require. These arrangements can be undertaken for short term, with online marketing, which can also be improved further for making long term plans.

Firms needs to consider what they can improve and Analyse the demand for their products to make short term and long range planning, change the offerings for a temporary period, and strategise actions by understanding the need and situation, for expanding in future.

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