Page 90 - IMDR EBOOK 20 OCT 2020

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

Tracking data in local geographies that experienced varying levels of impacts.
Using trends social sentiment and google query volume on relevant key words as indicators to
inform marketing actions.
Using trends social sentiment and google query volume on relevant key words as indicators to
inform marketing actions.
Building in quick response learnings to optimize marketing budgets and transfer learnings
across markets.

Recommendations
Basis the ndings of this study, it is recommended to adopt the marketing approaches,
advertising strategies, and investments as predicted and summarised above.
Also, the following recommendations are being made for overall business strategies
:(Parekh,2020)
Cash will be required for unforeseen circumstances, including another lock down, hence it is
important to Conserve, Cash at all Costs.
Separate teams should be formed to study the current situation, prepare the current response
and to work on the situation after two years.

Migrant workers who have gone back to their native places may be reluctant to return and
hence, they may have to be incentivised to return to work.
Almost 3 quarters of the current year will be lost in operations returning to normal.
Organisations should cut costs, reduce salaries, prune manpower as and when needed.
Promoter equity in the company should be increased. Being over capitalized is better than to be
over leveraged.
Avoid being over leveraged and avoid the debt trap at all costs.
Get private equity. Offer discounts on your goods and services.
Build relationship and trust with the banks. Don’t move relationships for a quarter or half a
percent.
Take advantage of the relevant government announcements for incentives and support.
Limitations of the study
Data for this research was acquired through a survey questionnaire from a representative
group consisting of only 10 business owners that included apparel retailers, car showroom
owners and restaurant owners. This may not represent the respective business verticals and
the ndings may not be applicable to other businesses due to their respective business
complexities. The research may also not be applicable to other countries due to the socio-
cultural differences. The biggest limitation faced during the analysis of the primary research
data was to understand the level of bias in the data. In general, the level of bias in the primary
data is always high but understanding the bias level was very difcult. Another limitation is
that the time available for completing the primary data analysis was limited due to which in-
depth study was not possible. Sample size is also very small.
Further research

There is no precedence, no study and very less literature on the impact of a pandemic like the
COVID-19 on marketing and advertising strategies. The magnitude of the problems for a
marketer during the COVID-19 is huge. Many such researches will be required in future as
more and more information is made available by businesses in the affected countries.
Marketers need to keep abreast of the constant shifts in consumer behaviours, their needs,
wants and priorities and adjust their own marketing and advertising strategies accordingly.
This review has helped in drawing advanced research directions and insights from existing
literature and the limited data on the impact of the COVID-19 pandemic on marketing and
advertising strategies. The ndings of this study could be used as a secondary source of data for
future research in this area.

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