Question

1. The Covid-19 crisis (Corona virus) has led many businesses small or big to rethink the way they do business while the population is under quarantine. Pick any business small or big and discuss how you would adjust its four Ps (price, promotion, place, and product).

Answer 1

Answer: As the COVID 19 crisis has taken the worst form in all over the world, everybody is suffering due to COVID 19, humans, companies, business, economy and Government.

Many small and big businesses have lost so much in this crisis.

Let us uderstand Marketing's 4Ps-

Product- Product can be goods or services that a company sell. Product is very important for company. Company does extensive research to make a product or service.

Price- Price is the value of the product that a customer is ready to pay. Price can be high or low based on the demand and supply of the product.

Place- Place can be physical or online , it is the location where product is sold to the customers.

Promotion- It is the advertisement to promote the product or service. Each and every company come up with the promotional activities to make its product or service more salable.

In this question, I am picking online business of selling "Hand Sanitizer and Surgical Masks". Product will be available for wholesaler and retail. It is highly in demand nowadays.

Product- Hand Sanitizer and Surgical masks.

Price- 500 ml hand sanitizer of $25 and Surgical masks are available in two different varieties, one is worth $1 pack of 50 is worth $25.

Place- Online ordering and delivering.

(As in many places, there is lock down and curfew so online channel is the best).

Promotion- Wear the mask for you safety and use hand sanitizer for clean hands, keep the virus away.