The world is rapidly changing, in fact at a pace that’s quite daunting and unprecedented. Information, innovation and technological developments, population change, dynamics of economic power, environmental changes and evolving consumer values all affect nearly every industry worldwide. This evolution and paradigm shift has affected everything we do, and how many things are done, and market research is not excluded.
Today, the market research industry is also responding to the changes in the trends of information, communication, and advertisement and branding. These trends ultimately determine the efficacy of a marketing campaign, strategy or plan. Hence, it’s important and helpful to look out for them because of their huge impact.
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There is a general mood of melancholy across the world around COVID-19 pandemic. Many lives have been disrupted, some with no way out. A sense of doom prevails for many and many are struggling to make ends meet.
However, there are a few bright spots that seem to be thriving in the current scenario. Despite the gloom, they are doing well and are facing spikes in demand for their products and services in these testing times.
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Semiotics addresses the significance of signs, symbols and messages in communication, based on the meanings attached to these by people. Brands utilize these to fill in the need-fulfilment gap in a consumer’s mind. All their marketing and advertising are channeled towards communicating and creating meanings in the target audience’s minds.
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Marketing revolves around understanding consumer choices and preferences. It is all about understanding consumer pain points and producing content to connect with those points, and this could include a series of trials to analyse what they respond to. Neuromarketing becomes helpful to understand their psyche and thus produce strong and customer centric marketing campaigns.
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Just like our daily routines have changed in the wake of COVID-19, business discussions and marketing discussions need to be changed too to accommodate the impacts of the unsettling scenario currently. While some brands may be taking advantage of the circumstances, some may be contemplating on scaling back marketing activities.
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