Question

Discuss how the global pandemic stemming from COVID-19 has affected companies’ value proposition. Provide an example demonstrating your discussion.

Answer 1

Covid-19 has turned into Global pandemic affecting most of countries and companies.The outbreak of virus has caused huge loss to people,businesses,companies,countries,etc.Since vaccine for this virus is yet to be invented and even the spread of virus is rapid,most of the countries declared lockdown where essentials are sold out and stores like clothing,electronics,educational institutes,restaurants,etc are not permitted to carry out there services for some period.This caused huge loss to the economies.The spread of virus can be stopped by maintaining personal hygiene,cleanliness,neatness and zero physical contact should be maintained with other people.Fear among people increased and they are in no situation to get into physical contact like exchanging things,shaking hands,etc.This affected certain companies' value proposition.Usually, companies give assurance to people that services offered by them tend to reach expectations of their consumers.But,now the Covid-19 has bought different situation where people are scared to use services of few companies.For example,companies which deliver food at doorstep got more affected.Value proposition of food delivery companies is badly affected as there will be contact among delivery agents and customers.Even food is prepared by outsiders and people are not willing to purchase outside food and are trying to avoid contact with delivering agents.In this way,value proposition of certain companies is affected by Covid-19.To overcome this situation,companies need to concentrate on gaining trust from consumers.Companies should improve their marketing techniques and should adopt new strategies where they assure consumers that zero contact is maintained and sanitization is done with all precautionary measures.The strategy of providing safe delivery should be implemented This strategy might help gaining back the trust and can regain profits.Hence,in this manner Covid-19 has affected companies' value proposition.