Is coronavirus affected to global marketing?

My understanding is that the mods have all purchased the anti spamming option on your tinfoil hats and have been religiously wearing them when they log on.

 

My gut feeling is that many countries will be facing very large debts/deficits once this is all over. I think they might well face major austerity that will make the austerity from 2008 look like a walk in the park

 

I disagree, there will be a bounce back and an economic resurgence as most people are optimists and have a *can do* attitude.

 

I think food, drink and hospitality companies will be most affected. However some e-commerce stores have been doing quite well due to everyone staying at home and ordering online more.

 

If 90% people can't going out of home then it will affected all of the economic affairs in present and coming days.But hopefully it will clear as soon as possible.

 

Yes that is what I keep trying to tell everyone!

 

I am not sure if this is something going on just in the U.S., but today is Takeout Tuesday which is an attempt to encourage people to frequent their local restaurants for takeout orders. We will be doing so tonight at our favorite diner. Over the weekend, we did takeout from our pizza place. There have always been initiatives to help support your local businesses, but I think that it is more appreciated these days. Might be some sort of marketing opportunity in this trend.

 

Hang in there, this will all pass and better times are coming.

 

Of course it's affected, a lot of real life industries got hit also on a very big level, I am still not sure how people really can't see it, and it will be only worse, sure if all your business - content site - then you may be no worry at all.

 

The whole worlds going to be affected, from online business all the way to brick and motor businesses

 

Keep in mind that the bulk of the economy is psychological. If people and businesses feel confident and optimistic, the economy does well, as it has been doing the past 3.5 years (at least here in the U.S.) For the past couple of months, the media has been scaring and demoralizing people and businesses without let up. We can speculate as to their motivations, but there is no disputing what they have done to the psyche of the world markets. Politicians, spineless and faced by the onslaught of bad press, have enacted police state measures to further shut down what had been the best economy I have seen since the 1980's.

So, from a global marketing perspective we need to figure out whether it will be like a "light switch" once this flu virus has been "beaten" and the economy will come roaring back quickly, or if the confidence and optimism of the world markets have been so unnecessarily damaged that we will stay mired in a recession or worse. It is really hard to predict which of these circumstances will occur. However, the longer we artificially dampen (in fact, destroy) the wonderful economy we had, the more likely that the economy will not just automatically spring back.

As marketers, we have to prepare for both eventualities, of course. So, I suggest that you develop a Plan A in which the economy bounces back quickly in a month or two and a Plan B in which the economy stays tanked for months or years and will be identified by future historians as one of the great follies of the new bubble wrap mindset that people have.

 

What about this scenario: Let's say by the end of May they declare victory. And then we have a second wave (which seems to be the case with pandemics). The recovery efforts can be thwarted by that. I am also thinking recovery is not going to be simultaneous. Even here in the US it will be state by state. In Europe for Italy and Spain it will take a while to get back to normal, whereas Sweden or Norway may not need nearly as much time.

I guess, I wouldn't be too hopeful about the economy coming back roaring. It will be a slow, gradual process.

 

My Plan A/Plan B approach is following the hope for the best and plan for the worst theory. You correctly point out that it is much more likely that you need a Plan C which is if the market recovery falls between those two extremes. That would point to niche strategies to focus on those partsof the economy that are recovering first.

 

When the pandemic is deemed to be under control and countries lift the social isolation quarantines the various economies will come roaring back like a pride of lions on crac. People will go crazy with celebrations, shopping sprees, eating out in restaurants, driving to places etc. The stock market will break records, oil prices and other stocks will rocket. You just wait and see!

 

From your lips to God's ears...

 

Just saw this Ma & Pa Kettle meme and thought that it offers a perspective on the current consumer marketing situation:

 

Its problem all world. Pray for all people.

 

So, the U.S. is now looking at Phasing back to "normal", though no state has actually taken action as of now. On the morning news/talk TV, someone mentioned that the first professional Sports league to get its games going (no matter which one it is) will have the biggest audiences it has ever had and may, in fact, pick up new fans as never before. They will be capitalizing on pent up demand from sports fanatics who have been in withdrawal for many weeks now.

I think that this also applies to many businesses. The first restaurant, department store, etc., that opens up for business will greatly benefit from pent up demand. How can we apply this Pent Up Demand (PUD) to Internet Marketing???

 

A good golf game starring Tiger and all the main pros.