Brands That Adapt And Reinvent Themselves, While Staying True To The Larger Purpose, Shall Survive These Tough Times
As part of our new series, ‘Marketers Playbook for 2020 Post Covid-19?, Sudhanshu Nagpal, Associate Director – Marketing (Biscuits), Mondelez India says an organization’s ability to understand changing consumer needs and act on them with agility will determine how well businesses recover
Covid-19 is undoubtedly one of the most challenging times our generation is facing.
From a business perspective, every company – either big or small - are struggling to keep their financial wheel turning, given the curtailed revenues streams and disrupted supply chains. The long-term ripple effect of this on the economy and heath of businesses will emerge and get clearer over course of time. But the focus for now is to keep our people safe, ensure business continuity and conserve cash, as part of managing and navigating the crisis period.
As we plan ahead, it will important for brands and businesses to do some strong future scenario planning for best and worst outlook and start articulating strategies and game plans for them.
As marketeers what’s keeping us awake is the humongous change this crisis is bringing about in the consumers’ life. The lockdown and need for social distancing is significantly altering some of the fundamental entrenched old ways and habits, and driving a shift in consumer behaviour.
As we observe and analyse consumer data points through various listening sources, there are a few driving forces which we can see emerging and impacting consumers, at least in short to medium term.
Which of these trends will evolve, sustain and shape the new world as consumers navigate and come out of the crisis, is difficult to predict, but an area of immense interest and value.
But in medium to long term, it will be organization’s ability to understand these changing consumer/ customer needs and act on them with agility and sense of purpose, which will determine how well brands and business recover and bounce back.
Some of the points we’re looking at, while relooking at our plans, are as follows –
For instance, on Oreo, our core proposition has always been “to inspire playful connection among families and friends”. And in this tough time, we adapted our messaging to launch #AthomewithOreo campaign which is not just our way of inspiring consumers to stay positive & playful when at home, but also enabling them with exciting Oreo hacks around recipes, fun activities and DIY craft ideas.
Disruption like these are also an opportune time for us to look into the mirror and make some bold changes; changes we felt were needed but were not able to action in order to avoid smaller disruption during business as usual.
How soon this crisis will tide over and what will the new normal look like – none of us have clarity. But what’s clear is it isn’t going to be an easy ride. Having said that, we strongly believe India’s long-term growth story will remain intact and as a country we will be back stronger together and better in due course. And the brands which can adapt and reinvent themselves to the new normal while staying true to the larger purpose, shall survive these tough times.
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