Page 89 - IMDR EBOOK 20 OCT 2020

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

5.What is the key factor you are currently considering when it comes to
reviewing your marketing plans for the year?

Observations:
With fewer new launches for products and services expected the existing businesses will opt to
increase the awareness and hence for 10% of the respondent’s awareness is the key factor while
reviewing the current marketing plans.
With few launches some marketers will want to focus on their own branding strategies now so
that with the end of the pandemic they have a better positioning in the market. Hence 10% of
the respondents look at Branding as the key factor.

Some of the marketers may want to explore new territories and increase their reach by going
into areas where their products or services are not being offered currently. To these Reach is the
key factor. 10% of our respondents fall in this category.
For established businesses the core idea is to increase revenues while minimising the costs
hence to them the cost effect ratio is the key factor while reviewing the marketing plans. 70% of
our respondents have chosen cost effect ratio as the key factor.
Summary
Predictions on Marketing and advertising strategies.
Marketing approaches, advertising strategies, and investments are predicted to see the
following shifts (Talbot, 2020):
Directing investments toward marketing tactics that drive online sales.
Reducing marketing investments on campaigns to drive short-term sales or business
outcomes, while keeping brand-building campaigns live – essentially saving dry powder.
Shifting budgets to promoting at-home and delivery-based options (i.e., at-home tness
solutions/equipment/apps, grocery delivery, restaurant delivery, etc.)
Shifting focus from promoting premium products to entry-point or everyday items.

With sporting events being cancelled or played without fans, many advertisers are formulating
new plans for those budgets – often holding the investments for later use – or scenario planning
for how to redeploy their dollars if a large advertising event such as the Olympics is cancelled or
postponed.
Fine-tuning media allocations by tactic as we experience demand-driven price uctuations in
various media channels. Changes in media supply and demand will impact costs, so we
anticipate marketers will need to closely manage certain spending areas, such as digital, with
refreshed ROIs on new cost levels.

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