Emerging Marketing Strategies during the COVID-19 Pandemic

Abstract

This research examines how the COVID-19 pandemic has led to a major disruption in the marketing field. Marketing strategies and policies, particularly of small and medium enterprises, have undergone widespread changes due to consumer purchasing behaviour and pattern changes. The pandemic has led to a market, from offline to online, and perceived changes in consumer behaviour were evident owing to its impact. Accordingly, businesses needed to change their marketing strategies. As the world went into lockdown, individuals spent considerable time on social media platforms. Hence, social media marketing (SMM) has emerged due to perceived benefits, external pressure, and monetary support, among others. SMM can influence the consumer decision-making process, which begins with realizing consumers’ need for products and ends with fulfilling such a need. External stimuli have a significant influence on consumer purchasing behaviour. Social media can influence consumer decisions, which is understood through the use of theories of the consumer decision. Furthermore, developing an SMM strategy is understood through consumer engagement and gratification theories. Findings showed that consumers’ use of social media increases privacy issues, and online theft restricts the use of social media, thereby serving as a limitation. Recommendations are provided to address such limitations and improve marketing practices. Keywords: Marketing policy; Covid-19; Social Media Marketing; Marketing strategy; small and medium enterprise