Class notes
Contemporary Marketing Notes
- Course
- BUS4026W (BUS4026W)
- Institution
- University Of Cape Town (UCT)
CMI Notes for BUS4026W
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BUS4026WContemporary Marketing Issues
Kathryn Wahl
Lecture 1
What are contemporary marketing issues?
• Contemporary – things that are happening now
• Current issues that are affecting marketing now
• Present new challenges and opportunities for marketers and businesses
• Covid19 = the most current contemporary issue
• Contemporary marketing issues fit into an abundance of areas/courses
• Covid19 – macroeconomic issue
• Creating a smartphone – technological issue
• Engaging in sustainable practices – environmental
• All these issues affect how we develop marketing mixes and building
relationships with customers
• Historical issues: mass production
• Global warming – natural issue
o Impacts how we run the business
o Change the way goods are produced
• Gender roles: how women were portrayed in media
o Women often portrayed as stay at home
• Current examples:
o Covid19
o Green products
o Representation
1
,Lecture 2
Impact of Covid-19
• Massive issues with the virus
• Massive impact on the rest of the world
• Go into lockdown – cut off contact with so many people
• This thus impact how we trade with other countries
• Limits the demand and supply of goods
• Raw materials and finished goods could no longer be exported/imported
• Revenue losses and supply shortages
• Demand for certain goods increased BUT consumers shopped less overall
• Periods of closure were sporadic
• Going to happen continually
• Run on effects on supply and demand of goods and the way we run our
businesses
Deglobalization
• Diminishing interdependence and integration with other countries
• Gained momentum with the increased focus of nationalism
• Pandemic – forced into deglobalization
• Unlikely to remain permanent
• Re-globalization will likely occur
Impact on economy and trade
• Economies suffering because businesses were forced to shut down
o Increased job unemployment
o Less spending power for consumers
• Trade on local and international economies is reduced
o Impacts the supply of manufacturing goods
• Tourism, hospitality, transport, oil and energy industries severely impacted
• However, online businesses have grown tremendously
o Telecommunication services increased
o Delivery system increased
• Economic growth stagnated – very much like a recession
• “Great Lockdown” or “Great Shutdown”
• Only a few countries will exit pandemic with little consequence
Impact on politics and policy
• Not every government responded in most effective ways
• Negative impact on countries creating political instability
o Impacts the faith and trust people have with their leaders
o Also impacts economic stability
Impact on technology
• Surge in innovation
• Make working and living during pandemic easier
Impact on environment
• Decreased trade travel and manufacturing lead to significant improvements
2
, • Once pandemic has passed, likely countries will prevent a regression in
environment
Impact on consumers
• Consumers are no longer able to gather
• Certain services needed to be purchased for certain things such as weddings
and funerals
• Consumers tend to shop less and rather bulk buy
• More likely to shop online
• May demand new levels of customer service in order to ensure safe shopping
experiences
Impact on Marketing strategy
• Marketing has had to rapidly change in order to adapt and respond to the
changes
• In order to match the new behaviours
• Change on both a strategic and tactical level
o Marketers have had to change the way we think of marketing and put it
into practice
STP
• Changing behaviours may have to require changing segments and target
markets
o You want to have target markets you can serve effectively
• Brand positioning needs to be conscious ie ‘Just do it”
Marketing Mix
• Product packaging needs to be upgraded to incorporate strict health and
safety measures
o Especially fresh and refrigerated goods
• Pricing strategies don’t need to be changed, but some temporary price
changes may have to be done
• Distributions heavily impacted by travel restrictions, so supply chain
management needs to account for these in order to keep supply and demand
consistent
• Brick and Mortar stores need to be compliant with health and safety measures
• Online shopping needs to be supported by efficient distribution centres
o Need to be developed as it will continue to grow after pandemic
• Channels for communication have changed
o People stream more TV
o Use of radio decreased (no more traffic)
o Online channels have grown more
• Many events had to be cancelled or moved to online spaces
What should marketers do?
1. Be conscious of pandemic and show that you care
o Life is difficult during pandemic
o Showing you are conscious with their hardships
o Show empathy and show that you care for them
o Be as positive as possible
3
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