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.
- 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...