Covid-19 has altered the business landscape of all types of businesses all over the globe. As this situation continues to get worse, the customers, employees' behavior is changed. To ensure the employee's health and continuously functioning to address the current and potential customers' needs, businesses are changing to a new brand to adapt to this new normal. This market condition pushes the organization to transform its marketing activities to capture new opportunities.
The state of things has caused quite a hullabaloo for the marketing department. So here I am sharing my views on a panacea to effectuate while preparing a marketing plan.
“Intelligence is the ability to adapt to change” -Stephen Hawkins
Some of the businesses are creating a marketing plan to promote their business, but they failed to address what customers actually need. This leads the business to fail,
In 1960, Theodore C. Levitt published one marketing paper to Harvard business review. The title of the paper was “ Marketing Myopia”
Marketing means selling or promoting their products and Myopia meaning short-sighted.
Marketing Myopia, businesses taking conventional approaches to marketing, and planning for short-term success are failing to address the needs of customers.
According to the publisher, the business who is addressing the target audience needs rather than promoting their product for short term growth has sustainable and better business success. The implication of marketing myopia will lead to customer dissatisfaction and the business lasts for a short period of time.
How to sail through this situation?... This pandemic caused people to reshape the structure of living to adapt to this new normal. So businesses who are preparing the marketing plan should understand the customer needs as per the current situation. Do swot analysis on customers' needs, start asking questions with your existing customers, what are the needs for you in this pandemic situation. What type of solutions you may need to address the challenges in this outbreak.
Conclusion
To prevail this pandemic, don't make marketing plans for short term success. Understand the customer's needs in this pandemic situation rather than selling your product and services. To future-proofing make a long term customer-oriented Marketing plan.
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