A conversation on how marketing can help businesses in the covid era was organised by WTC. Mr.Anish Aravind, Founder-MARS and Mr. Kamal Krishnan, AVP-TOI spoke about the changed role of marketing in the new norm. A gist of the discussion is given below;
Covid has differentiated products and services as essentials and non-essentials. There has been a significant change in the consumer behaviour and brands are positioning themselves to cater to these needs. Product availability has taken a toll on the loyalty factor. Business today is confused and none of the older data is helping entrepreneurs to take a decision. This is the time when leaders need to pitch in and help businesses to tide through.Although restrictions have been lifted, the economy is not reviving and it will take more time to get back to normalcy.Brands unlike before should look for a longer ROI and invest in time during this lockdown to build trust. Going forward, the influence of technology in business and lives is going to be significant. Companies are waiting for their consumers to respond and this will happen in a period of time. The concept of personalisation is key and never give a chance to get disconnected from customers. According to Mr.Kamal,several brands have gone silent during the lockdown which is not good. Different scenarios were mentioned through specific case studies to help viewers understand the points conveyed during the programme. Marketers from various industries participated in the discussion and shared their views with the speakers. The session was organised together with Indo-American Chamber of Commerce.