The post pandemic era further boosted the shift towards Digitization; the onset of Covid saw a meteoric rise in digital consumption
By Rakesh Kumar, Vice President – Sales & Marketing, Ascent Meditech
Post pandemic era is no doubt throwing challenges to the Marketing community who are looking for opportunities to undertake brand building exercises and regain the lost ground by implementing various strategies in their business plans. Year 2021 witnessed consumer demand bouncing back as winds of relaxation of pandemic norms are sweeping across the country. Year 2022 shall optimistically experience a renewed thrust towards brand building initiatives by consumer driven brands. It is important to understand the changes in consumer behavior before stepping into 2022, post which brands can accordingly strategize and make their plans innovative by keeping following points in mind –
Distribution Channel mix
Consumer driven brands should look beyond the brick and mortar stores & modern trade to drive demand. It is necessary to explore the online marketplaces due to the convenience and the element of no contact delivery which they offer. Even though the traditional channels of distribution are an important element in the entire distribution mix and connection should be maintained, it is important to understand the consumer behaviour in the post pandemic era which is shifting more towards the digital side of it.
The last two years of the pandemic showed a steep fall in the industry as the companies could not execute their plans and strategies with respect to Category Expansion, Brand Extension and Product launches. Year 2022 shall see the reverse image of this with companies introducing multiple categories/ brands under one roof as a part of their marketing and development strategy and reaching a wider customer base.
The post pandemic era further boosted the shift towards Digitization; the onset of Covid saw a meteoric rise in digital consumption. There are 448 million people in India who use social media every single day. Digital transformation today has bagged one of the core positions across maximum industries. Post Covid, digital as a marketing medium is not something a marketer can ignore. While brand building efforts will continue across all mediums, the media mix in the coming year shall see a skewness towards the digital medium
India is a land of 1.3 billion consumers who come with their own taste and preferences, own identity and own values. In order to meet their requirements and preferences, brands accordingly will need to space out their marketing plans to escalate their sales. Influencer marketing being one of the most rapidly growing types of promotions in the market, it will be no surprise if brands move from having a single Brand Ambassador to multiple influencers due to the evolving digital/ social media landscape. Consumers have started showing a calculative approach before purchasing any product; brands will have to accordingly take note of it before taking any steps with respect to putting forth their promotion/ marketing plans.
Investing in technology equals investing in progress. Competition landscape is continuously changing and brands need to stay ahead of the curve to gain a competitive advantage. While AI and Blockchain technology are the commonly used terms today, it is important that technology spreads its wings across multiple functions starting from Product Innovations to Supply Chain to Sales Force Effectiveness and to Remarketing.