At the time of writing, Malaysia's COVID cases have increased at an alarming rate with 42,397 active cases and 642 accumulative deaths, resulting in MCO implementation 2.0. Many small business owners and big enterprises are directly impacted by the unfortunate circumstances that come with the virus that alerted society globally in November 2019.
With a cumulative total of 95,612,831 cases and 2,066,176 deaths globally, this pandemic that has hit the world has changed society's norms and the infrastructure of businesses and marketing strategies. As it happens, COVID has pushed society into embracing a new world where social distancing is a necessity, with digital space becoming the primary channel to stay connected with the rest of the world population.
New marketing strategies are now vital for businesses to survive and thrive amidst these trying times. With COVID-19 living within society, changing how businesses and economic sectors run vigorously, small and big business owners are left to rethink their whole digital roadmap and business model to outmanoeuvre the pandemic.
Reevaluate Business Marketing Strategies
At its core, a good marketing strategy includes a deep understanding of the target market. Once that is figured out, the business brand and its marketing strategy can move towards fitting in with the target market's perspectives. The pandemic has called for a change in the market's infrastructure, so does the need for every business to redevelop a new and appropriate marketing strategy.
The first action to take to develop a new marketing strategy is reassessing and reevaluating the business's