As we all know that the whole world is still struggling to survive the mammoth pandemic with a fighting spirit, human lives have been directly affected by Coronavirus and have made people strive hard for their earnings. The economy has slashed down in numerous countries with only a small aspect of compassion towards the business needs.
Welcoming 2021 was not grateful, as the fearful season witnessed by everyone in 2019-20 is still very fresh in minds of people. Everything is at a halt and businesses are finding it difficult to maintain the same rapport as they had 2 years back. People stopped coming out of their houses which led to a fall in offline marketing; shifting gears towards the online marketing process. Covid19 is over in some countries but has an impact on the leftover ones.
Lower consumer confidence has been the biggest factor for this fall. People are now driven most towards the savings stream. They choose to opt for commodities and services that have been charged with a discount. Every individual is re-evaluating and monitoring their day-to-day wants. Digitalization has proven to be the most effective medium through which consumers happily demand what they require for their living standards. Unemployment has increased in many countries including India where middle-class people are still struggling to maintain the status of their professionalism.
At-home entertainment is the only category that has seen a rise in the Covid19 pandemic situation. Marketing is evolving in the same manner wherein audiences are getting attracted towards various social media marketing strategies. Every brand has felt the need of connecting with its masses virtually. Due to this boom of the digital era, every platform wants to keep its audience jammed & intact which has created an atmosphere of digital rivalry amongst different companies. Flex in the regional media power is required and at the same time marketers need to recover the growth and balance their upgrading strategy with advertising budgets.
As Stephen Hawkins has said, “Intelligence is the ability to adapt to change”, we need to drive ourselves towards a new goal. In short, the ideology behind the marketing principles won’t change but the marketers will have to be prepared to work in co-relation to the consumers changing mindsets. We now need to gear up for the challenges and create opportunities with efficient marketing skills.
Alfred Lord Tennyson sums up our situation in a beautiful way:
“Though much is taken, much abides; We are not now that strength which in old days
Moved earth and heaven; that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.”