Marketing communication strategies to enhance competitiveness from the effect of covid-19 crisis through the perspectives of high-ranking executives in modern trade business

Abstract

This research is aimed to study marketing communication strategies to enhance competitiveness from the effect of covid-19 crisis through the perspectives of high-ranking executives in modern trade business. The marketing communication strategies comprise of 5 key steps which are reviewing the marketing plan, determining marketing communication objectives, determining marketing communication tools, determining budgets and timing and evaluating the results. This can be done through the qualitative research as a guideline, collect the information via in-depth interview as well as conduct a documentary research. The research found that the COVID-19 pandemic has an impact for top executives to abruptly review the marketing plan by identifying a short and concise timeline together with a flexible plan that corresponds with everyday situations. Besides, focusing more on sales and profits for this particular situation will help regain and compensate the occurred losses. The rising stars of this market industry are the food consumers store and market, hardline store and the e-business: e-retailing, e-commerce, social commerce. On the other hand, softline store including fashion, cosmetics and clothings are greatly impacted from the pandemic situation as they are seen as luxury goods. During the COVID-19 pandemonium, it is found that there is a correlation between determining marketing communication objectives and focusing more on sales and profits. Top executives emphasize on an Integrated Marketing Communication: IMC which incorporates several marketing communication tools to directly analyze customers database in order to design and deliver a more customized message for individuals. However, the most important thing to be aware of is the efficiency and effectiveness of using the budget on each investment. It is shown that the more negative impact a business has, the less budget is given and that unfortunately could go to a budget cut-off in order to save the expenses. Also, adjusting and shortening the timeline should be considered as to provide an immediate follow up and evaluation. By doing so, measuring the success of the marketing communication plan is through sales and profits.