Question

“Some parts of the food industry are benefiting from our changing consumption habits.”

Give an example of how you can benefit from the Covid-19 crisis to launch the product of your choice (give details on the product, on the marketing tools you plan to use and on the communication you choose).

Answer 1

"Some parts of the food industry are benefiting from our changing consumption habits.”

COVID-19 crisis has caused recession worldwide, bringing down many food and related industries. Farmers are mainly hit by the emergence of COVID-19. There has also been a disruption in the supply chain of the food products due to the pandemic.

COVID-19 is hitting the patients who already have pre-existing health conditions as their immunity is weak as compared to the others.

Launching a new product like nutritional capsules/syrup which has several health benefits will not only create awareness among the population but also will increase the market share of the product. Many customers are in regular need of nutritional capsules and prefer to take them on a regular basis.

In order to gain a competitive advantage in the market, the product needs to create brand awareness in the market. Before launching any product, a company needs to understand the basic methods and tools used to launch a product. Complete and thorough market research needs to be conducted in order to understand the need and requirements of the product. Market research will also help to understand the substitute available in the market.

Strategic consulting and brand development also needs to be taken care of while launching a new product. The company needs to understand the requirement of the product and the vision behind launching it in a pandemic situation.

Several marketing tools or techniques can be used in order to launch and promote the new product in the market. Tools like Social media, online surveys, SEO, content creation, direct mail and programmatic advertising, public relation, and sales help a product to reach in the market and create its own value.

Communicating about the brand is also one of the important factors in creating awareness among the customers. A customer needs to understand the reason to purchase the product in the pandemic situation. Before sending a communication to the customers, a company needs to focus on the touchpoints of the brand, adding a branding story to it and then launching it on a particular date. The key audience also needs to be specified in the communication. Here the key audience means target audience for the product. Brand communication strategy is very important for the successful launch of the product. It consists of communicating the right thing to the customer, crafting the message in the right way so that customer is attracted by the product and becomes loyal to it. Branding also helps to sustain the customers and makes it a memorable experience for them.

Before sending perfect communication to the customers, a company needs to be transparent enough to inform the customer about the quality of the brand. Transparency also leads to higher sales in the long term. Communication of the brand to its audience helps to boost sales, retain customers, and persuade them to purchase it. A brand is considered to be a bridge between the consumer and the company which helps to grow, communicate, interact and understand its needs and requirements.