Novel coronavirus implodes emerging world economy. Everything going slightly when the news came from Wuhan of brisk epidemic alert. No one knows about the killer virus; in a couple of days up till now it effects more than seven million people and spreads globally. Eventually market vicissitudes were leaving a breathtaking impact on economy and adjacent. Now US has most cases than any other country. One study claims it could kill 81,000 people by the June in USA (university of new York). 3.3 million already unemployed so they released a biggest relief budget of $2trillion for unemployment and for businessman. Meanwhile in India more than 1.3billion people are lockdown, all flights are cancelled and this lockdown may cost them around $120billion-4% of the GDP (Reuters). China is coming bac from massive outbreak but no foreigners is allowed to visit china due to the pandemic. Major economic steps and endeavors by relevant ministries countries, they inject handsome amounts to stabilize the stock markets because of rapid crash.
Markets have to deal with events that have significant impact on the economy and the psyche of the consumer as well. Aftershocks of the 9/11 tragedy in USA rippled every sector of economy, travelling tourism and media Hollywood particularly hard hit. Leading news channels had to face $35 to $40 million lost revenue in a day. After the vigilant attacks of terrorists advertising become more concentrated and changed it self and endorsing in different ways. Consumer behavior were also changed, they were now tending more to buy made in USA products. some of the marketers decided to act differently to capture the target market by offering appeals to patriotism or giving tributes to deceased in the tragedy. They present huge tribute to firefighter’s & police workers. Most of them becomes advertising spokesperson. The US government uses people outrage against terrorists funding scam. White house declares the illegal drugs supports terrorist network in the country. However, appeals after the attacks were remain unwelcome as compare to those who are already doing best practices regarding patriotism and such material. (wall street journal)
Covid 19 lockdown
Under these circumstances FMCGs try their lever best meet the demand, despite they have to use alternate ways to procurement. No doubt human capital is much more important to keep the world running so brands like Nestle, P&G cuts major portion of their production due to decline in stock market and unnecessary demand. They just to made soaps, sanitizers and essential food items. Panic buying could be seen which creates market hoardings and due to minimal workforce process of supply chain disturbed a lot. Lockdown polices of government cannot clear roadmap under pandemic period, on one side they order to fulfill the demand and this is just possible when labor reach to production units. TAPAL regional manager claims we are doing our best under the huge demand with help of skeleton staff. they welcome lockdown because of curtailing of pandemic. therefore, they said we are working on to procure safe and hygiene products across the country by giving the safe passage of giving accommodation to their staff under pandemic period.
The coronavirus pandemic engulfed world. In these testing times its very tough to response. Viral disease can’t stop its feet to anyone. Obviously to cater the huge demand of market it’s not possible to meet by existing brands. The top engineering varsities i.e. University of Engineering and technology Lahore, Punjab University Lahore is making sanitizers and other relevant material to issue on much economical rates as compare to market. Institutions like NUST & GIK keen to inventing COVID-19 kits which gives results just in 20 seconds through AI.
1 Lifeboy is collaborating with collaborating with Sindh Government to create awareness by washing hands on public places.
2 Dettol gives a public service message to with ministry of health and they keep on telling how to win this corona battle.
3 Foodpanda is also doing CSR activity by putting basins outside to all restaurants with collaboration of Lifeboy.
4 Bykea also starts delivering soaps and sanitizers to general public in just 350 with rider share.
I am a goal oriented, enthusiast and passionate blogger about advertising and marketing. Discovering newfound love for advertising and digital marketing. Love to decorate places. Trying to learn some and unlearn some as we sail through the highs and lows of life. “Digital” is my favorite keyword. Words work like therapy and the reason why this blog was created. Coupled with personal + professional experiences, this is my log book for myself and the world. Love Usman