Page 86 - IMDR EBOOK 20 OCT 2020

"Pandemic and Beyond: Naviga ng the New Normal" E - Book Year 2020

1. How do you think COVID-19 pandemic will impact consumer behavior?

Responses-Graph 1
Observations:

•"We have reassessed the prospects for growth for 2020 and 2021. It is now clear that
we have entered a recession as bad or worse than in 2009. We do project recovery in
2021," declared Managing Kristalina Georgieva- Director of the International Monetary
Fund (Ecotimes,2020).
•It is therefore no surprise that none of the respondents feel that the demand will rise.
•The degree to which the demand may fall as given by each respondent is certainly
based on his/her assessment of the current situation and the impact of COVID-19 on
the business.
•However, the research points out that 70% of the marketers feel that the Demand will
fall by 25% to 40%.
2.By how much percent have you reduced or plan to reduce marketing budgets in
view of the current pandemic?

82