Marketing in the COVID-19 crisis
This article is part of a special WARC Snapshot focused on enabling brand marketers to re-strategise amid the unprecedented disruption caused by the novel coronavirus outbreak.
Why it matters
During times of crisis, such as the spread of COVID-19, consumers often reduce their discretionary expenditure in favor of saving resources. As a result, low-cost brands are often positioned to take advantage of any disruption in normal patterns of behavior.
- Brands may want to consider launching lower-cost brands and services at times when shoppers are less willing to spend.
- Cutting marketing budgets is tempting in the short term, but typically has damaging outcomes for brands in the long term.
- Customer service remains vital even as revenues decline and consumer spending slows, as shoppers often punish brands that let them down at times of stress.