Why brands cannot afford to delay post-Coronavirus comeback plans

Geoffrey Precourt

Advertising budgets will come under pressure in many industries as a result of Coronavirus, raising the pressure on brand custodians to achieve the greatest possible efficiency.

Why it matters

The uncertainty induced by the spread of COVID-19 can encourage an extreme focus on short-termism and immediate outcomes. Shrewd marketers, however, should consider the longer term, and how their brands can survive the current crisis while preparing for the recovery.

Takeaways

  • Scenario planning is essential for marketers as they seek to anticipate the various possible outcomes of Coronavirus.
  • Many brands, such as those in the luxury category, many want to revise their positioning to focus less on prestige and more on values like product quality or safety.
  • Brands that display support and empathy for consumers during hard...

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