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New Marketing Realities After COVID

The COVID-19 epidemic and subsequent crises in some industries has forced marketers to implement a distribution approach to the marketing communication exchange between sellers and buyers. The distribution approach concentrates on improving the two-way flow of information between buyer and seller, developing innovative ways to deliver a product to create a competitive advantage, and finding ways of compensation that are beneficial to both buyer and seller. In this pandemic age of commerce, it is vital to obtain as much information as possible to create well-defined customer segments that will benefit from pertinent product offerings. The EY Future Consumer Index has found 5 consumer personas: Affordability First (budget-driven, focused on functionality), Health First (safety focused, choosing products they trust through low-risk modes of compensation), Planet First (choosing to buy brands that minimize environmental impact), Society First (altruistic support for companies that are open and honest), and Experience First (open to new experiences and carefree) (Balis, 2021). Targeting  specific audiences such as these is a more efficient and effective way to build relationships.

The COVID epidemic has forced marketers to explore the advantages of using a distribution approach to be more effective and efficient at facilitating the marketing communication exchange between seller and buyer. Improving the flow of information, innovation, and compensation has improved relationships between buyers and sellers during COVID’s unprecedented disruption. These strategies must continue to be implemented to navigate the reality of a COVID world into the near future.

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