Successful businesses are driven by products and services that address needs of their consumers. They answer questions or solve problems that people have, big or small, common or uncommon. Needs present themselves for many different reasons, and in many different ways. A part of marketing during emergencies for a successful business is to identify those needs in which to fulfill, and then promote that. An overwhelming need is quickly created and can be shared among a span of countries in the face of a natural disaster, for example, or of a pandemic like the Coronavirus.
The need for sanitation supplies and stockpiling resources is rapidly on the rise in the face of this growing problem. Relevant companies have already begun to incorporate the great need for these things into their marketing strategies. Whether they are updating product labels, writing related content, or addressing the topic through advertisements, it is important that the consumers see their brand amid the growing influence of the pandemic.
One variable in particular that is being affected are the prices of the products that are growing in demand. Price gouging is on the rise from companies like Purell, for instance. Some online merchandisers are marketing their products for killing the coronavirus and are accompanying those promises with markups of up to 500%! Price gouging laws are in effect in many states to help combat these moves, and action is being taken by online retailers like Amazon o crack down on sellers that are looking to exploit the market.
Marketing during emergencies can serve as a tool to not only help increase awareness of the product or service of a brand to consumers, but also to increase the amount of problems solved by that product or service for consumers. The deceitful and exploitative rep marketing receives from entities that look to gain an unfair advantage or competitive edge hurt the whole idea that a business is out to help people achieve something or make their life better.
We as your Online Capital Group believe in an honest foundation and that investing in your principles can receive more profit than financial prospects alone. We hope you stay safe out there and be mindful of your purchases during this time. Look for claims that can be backed up with research or public information, as well as sources of products that are legitimate to avoid scams.
If you are looking to market your product or service, related to the current growing pandemic or not, give OCGnow a call today at (904) 600-3600.