Impact of COVID-19 on Business and Cause Marketing's Role in Modern Society
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Added on 2023/01/06
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This article explores the impact of COVID-19 on business and the role of cause marketing in modern society. It discusses changes in consumer behavior, market impact, and strategies to overcome challenges. It also emphasizes the importance of cause marketing in developing a better society.
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TABLE OF CONTENTS TASK 1- INDIVIDUAL SUMMARY............................................................................................1 Main idea of the article................................................................................................................1 Contribution article makes to practitioners..................................................................................1 TASK 2- LITERATURE SEARCH................................................................................................2 Evaluate the role of Cause marketing and its role for modern society........................................2 TASK 3- SMART OBJECTIVES...................................................................................................3 TASK 4............................................................................................................................................5 Reflective report..........................................................................................................................5 TASK 5............................................................................................................................................6 1. Presenting the chart of growth of budget in term of number of passengers carried................6 2. Figure to show the market share of airlines in 2019................................................................6 3. Trend in budget travel will continue into 2020.....................................................................10 TASK 6..........................................................................................................................................10 Skill Audit Reflection................................................................................................................10 REFERENCES..............................................................................................................................12 APPENDIX....................................................................................................................................13 Skill Audit..................................................................................................................................13
TASK 1- INDIVIDUAL SUMMARY Main idea of the article The main idea of this article is to gain better understanding of impact of COVID-19 on business. This current pandemic situation of Covid-19 has not only impacted living life style of people but it has also impacted various kinds of organizations and their way of doing business. It has also been observed that economic impact of this pandemic situation has impacted every organizations globally(Donthu, and Gustafsson, 2020). Most importantly business has been impactedbecausethissituationhasbroughtdrasticchangeswithinoverallbehaviourof consumers. This article has focused upon ways in which business organizations can bring changes within their key or major functions in order to increase brand value, attract customers and sustain within the current pandemic situation. This article has focused upon explaining consumers behaviour during Covid-19, ways in which market has been impacted due to Covid- 19 situation, prediction of Coronavirus lasting effect, ways in which this situation has impacted business and how they can overcome barriers of challenges created due to this pandemic situation. This article also helps in identifying industries that has majorly been impacted due to Covid-19 i.e. Tourism industry. In this different discussion of different ideas has been done so that business organizations in this industry can grow and evolve. In this article various kinds of factors have been identified because of which negative impact of Coronavirus situation upon business is increasing. Contribution article makes to practitioners This article can help business practitioners to understand ways in which Covid-19 situation has impacted their business and strategies that can be adopted by them to bring changes within their business that can help them in attracting a greater number of customers. Contribution of this article for practitioners is that with the help of this article, they can understand in a much better manner ways in which behaviour of customers have changed and ways in which their needs, requirement and preferences have also changed(Donthu, and Gustafsson, 2020). Not only this, this research can further provide a brief overview of key factors that can help them in bringing chances within their key business functional areas for attracting a greater number of customers and reduce negative or drastic negative impact of Covid-19 situation upon business. It will further provide them with a brief over view of factors that are mostly ignored by companies and are required to be focused upon that can help companies not only in attracting customers but also 1
in terms of sustaining within the market in which they operate. One of the main way in which this article has contributed for business organizations is to identify ways in which organization can develop new business for meeting new and special demands of customers. They can also collaborate with other firms so that special needs and requirement of customers can be fulfilled by companies and will further helps them to frow and expand even in this Covid-19 situation. TASK 2- LITERATURE SEARCH Evaluate the role of Cause marketing and its role for modern society. According to the view ofAbdullahi, (2019)because marketing is also known as cause- related marketing is a kind of marketing which is used for non-profitable and worthwhile causes. It helps organizations to differentiate as well as drive their business (Ratnakaran and Edward, 2019). This marketing term is not used for development of a general sense of marketing program for profit brands that are based upon charitable and social cause (Hanzaee, Sadeghian and Jalalian, 2019). It can also be said that it is a collaborative effort between for profit brand and non- profitable organization for mutual benefits. As per the view ofBallings, McCullough and Bharadwaj, (2018)Cause- marketing plays a vital role for organizations in attracting customers. It is a part of business strategy that helps in increasing active involvement and engagement of customers, increase product differentiation, influence customers and maintain effective two- way communication between business and customers. It plays a vital and important role in organization (Pracejus and et.al., 2020). It helps in increasing brand loyalty among customers that further helps firms in increasing chances of successofbrand.Itfurtherhelpscompaniestodifferentiatetheirproductsfromother organization’s products, help customers in identifying unique features of products and further helps in identification of a fact that whether the product is for a social purpose or not (Gupta and Anand, 2020). The of the most important and vital role that cause marketing has it that it reduces overall employee retention. As explained byChang, Chu and Tsai, (2020)cause marketing not only provide various benefits to organization but it plays an important role in modern society as well. It helps in development of a better modern society. It helps the organizations in focusing upon their corporatesocialresponsibilities(PetrovaandKamenova-Timarevab,2020).Itincreases awareness among people and make them realise what is right thing to do that can norm only help 2
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in making or developing a better society but also bring improvement within business as per the changing society norms and focus. Thamaraiselvan, Arasu and Inbaraj, (2017)Elaborates that, Cause marketing make organizations focus upon main issues or problems of society and resolve them. For example, it helps the organizations to make people aware about environmental issues and ways in which those issues are degrading overall health of people living in the society. Companies focusing upon increasing overall CSR level of business and making people aware about importance of environmental issues and reason because of which they have adopted environment friendly products, packaging etc. it not only focuses upon bringing changes within overall perception of companies but it further helps in changing overall perception of customers so that a better society can be developed for living (e Silva and et.al., 2020). It makes companies focus upon doing well by doing good i.e. if brands focus upon doing something positive for the society in order to bring positive changes within society then it can further help them in development of positive brand image and enhance brand loyalty among customers. TASK 3- SMART OBJECTIVES In this task SMART objectives for one of the remaining tasks are required to be developed. Here, SMART objectives of Task 4 will be developed. Task 4 is a reflective report will be developed in which reflective report providing details of different kinds of group work skills that can be improved will be developed. Smart objectives for task 4 are as follows: SpecificMeasurableActionableRealisticTimed Todevelopeffective SMART objectives for completion of Task 4 in an appropriate manner. YesDevelopan appropriateand effective plan Yes1 month Read all the instructions ofTask4clearlyin ordertounderstand what is required to be done in task 4 within 1 hr YES Measure: To complete the reading Review all the group activitiesthathave been covered in this MoodleinwhichI have participated in Yes,itisrealistic becausereadingall the instructions will providemewitha muchbetterand appropriateview pointofwhatis 1 hr 3
requiredtobe achieved.Material required for this task is Task 4 assessment brief. To review all the group activitiesduring Moodle in which I have participated in one day in order to understand different kinds of group working skills that are stillrequiredtobe developed. Yes Measure: review of all the activitiesin Moodle One by one review all groupactivities,my roleinallthe activities.Check whetherIhave successfullyfulfilled those activities or not. Lastlyidentify problemsorissues facedbymeduring each activity. Yes, it is a realistic goal or objective that canbeachieved. Thisobjectiveis extremelyimportant tobeachievedin order to gain better understandingof Task4.Forthis material required are finalsubmission reportofallthe activities. 3 hrs Toidentifydifferent kinds of group working skills that are important to be developed by the end of the week. Yes Measurable: Make a list ofallthe important and required group working skills Spend one hr online every day to identify requiredgroup working skills.Ask feedbackfrom lecturerfor identifyingrequired group working skills. Yes, it is realistic as variouskindsof resourcesare availableforthis objective. 1 hr 4
TASK 4 Reflective report There were various kinds of group working activities in which me and my other team members participated. During these group activities me and my team members were required to discuss article about ways in which Covid-19 change team work. During this activity I have identified that there was lack of coordination between me and my team members. Due to Covid- 19 all of these group activities were done online and I realized that we were facing lots of issues in coordinating with each other and because of which we were facing difficulty in completing this task as well were required to discuss with each other and then answer the question. This helped in identifying that there was requirement of coordination team working skill which was required to be worked on so that we can effectively work together, coordinate with each other and complete given task in an appropriate manner. Another group activity was to find an article on EBSCO database and then prepare a presentation. In this task we were facing difficulty in completing poster presentation and develop a mind map on time. This was because I was lack of propercommunicationandtakingofinitiative.Ineedtobringimprovementwithinby communication skills so that I can take initiative and explain my point of view, present my findings and work appropriately. Oral communication skill is another important group working skill that was required to be improved by me as due to lack of this skill I was facing difficulty in completing this task on time and present my work. During this mind map poster presentation group activities, I was taking initiative of leading the group but due to difficulty in oral communication I was facing difficulty in coordinating with every one and if any kind of problem occurred then I was also king difficulty in resolving issue that occurred. This experience helped in un understanding that there were various kinds group working skills of mine that were required to be improved by me. First of all, I need to develop leadership skills so that I can lead a group of people and complete given task successfully in a proper and effective manner. It is important to have leadership skills as it not only helps in leading a group but it will also help me in motivating my other group members so that they can work together with each other coordinating and completing a task successfully in a proper manner. other than this, I have also identified that it is important for me to develop critical thinking and problem- solving skills so that if any kind of issue occurs within a team then I can analyse and evaluate it and resolve it. This will further help me in developing coordination 5
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within team members and complete any task successfully within defined time period successfully in which all the group members participate equally and support each other. These are solve important group working skills that are required to be developed by me. TASK 5 1. Presenting the chart of growth of budget in term of number of passengers carried 000’ Person201420152016201720182019 Charter10,710.408,139.508,299.608,352.208,366.408,341.30 Low Cost Carriers57,453.9066,585.8078,092.0079,759.0081,593.4082,817.30 Scheduled Airlines27,231.2028,089.4028,961.5031,002.9031,529.9031,876.80 Airlines95,395.50102,814.70115,353.10119,114.00121,489.70123,035.40 2. Figure to show the market share of airlines in 2019 20152016201720182019 6
British Airways Plc 34.133.434.233.633.1 easyJet Airline Co Ltd 16.916.716.517.117.9 Ryanair Holdings Plc 7.9109.38.98.6 Thomson Airways Ltd 5.95.55.254.8 Qatar Airways Group Plc 3.23.33.84.44.7 Virgin Atlantic Airways 5.44.74.44.14.3 Ltd Norwegian Air UK Ltd 1.11.41.62.83.2 Air France- KLM Group SA 3.53.33.132.9 Deutsche Lufthansa AG 2.82.62.52.42.4 Thomas Cook Airlines Ltd 2.92.72.52.42.4 Cathay Pacific Airways 1.81.91.822.1 Ltd 7
3. Trend in budget travel will continue into 2020 Yes, the trend in budget airline travel will continue in 2020 because there is a slightly increase in the passenger carried in specific areas such that scheduled airlines are increases from 2014 to 2019. Thus, it is expected from the airline industry that it will be increases by 2020 because the trend line is increases continuously from last 5 years. Therefore, the number of airlines are also increases form last many years because the demand of passenger increases. This is also clearly reflected that by 2020, travelling is increases because of increase in demand. The data of airline industry also reflected that passenger carried is increases by year by year and that is why, it will help to provide an opportunity to focus upon this so that people will take advantage from the same. In addition to this, it is also analysed that there is an increment in the low cost carrier from last 5 years and the graph shows it is high as compared to other component because people are ready to pay afford the price of airlines. Moreover, budget of an airline industry should be increases because of increase in demand and the industry is considered as one of the safest and require less travelling time as compared to other mode. That is why, trend in 2020 will be continue into 2020 and this shows the positive impact upon the industry as well. TASK 6 Skill Audit Reflection Skill audit helps an individual to identify their major strengths and weaknesses in a proper and appropriate manner. it can directly help an individual in identifying their major areas in which they need to bring development. This skill audit has helped me in identifying my major strength areas and my main weaknesses that are required to be worked upon. Some of my main strengths are: analysis, self- appraisal, reflective practise, planning and management. I can easily analyse any kind of information that I have collected and put it into appropriate category. I can alsoanalyseinformationcollectedbymeagainstgeneralstandardsforcheckingits appropriateness, correctness and relevance. I am good in identifying my main strength and weakness area and can also identify whether work done by me is good or not. Another one of my main strength is planning and development because it can work on my own and can identify actions that are important and necessary for me and for its completion, I can easily break down any ask into manageable subtask so that I can meet final deadline of the projects. This skill audit has further helped in identify main weakness and my major area of development that are required 10
to be improved. So, areas that are required to be developed by me are: creativity, problem solving, interactive skills for dealing with conflict. I need to focus upon developing creative ideas for a subject. I also need to work on my problem- solving skills and interactive skills as due to lack of these skills I cannot resolve issues or conflict within group members. Many times, I also fail in identifying others strengths that can be used to complete a task in a proper manner without any issue. If I focus upon bringing improvement within my creative, interactive and problem- solving skills then I can focus upon identifying some creative ideas using which I can resolve problems of my team members. By enhancing my interactive skills, I can collaborative with other team members for completing a task in a proper manner without any kind of issue within specific deadline. Action plan to develop identified area of development for future development of skills: I will focus upon attending seminars and training sessions so that I can identify ways in which information is collected and delivered. This will further help me in enhancing my oral communication skills so that I can interact with others, identify their main strength areas and resolve any kind of issues if they face. I can also focus upon attending online training courses where we can work upon bringing improvement within our problem- solving skills. Feedback and results of these courses will further provide me with a clarity of ways in which my problem- solving skill can be enhanced. 11
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REFERENCES Books and Journals Abdullahi, S.I., 2019. Zakah as tool for social cause marketing and corporate charity: a conceptual study.Journal of Islamic Marketing. Ballings,M., McCullough,H.and Bharadwaj,N.,2018. Causemarketingandcustomer profitability.Journal of the Academy of Marketing Science.46(2). pp.234-251. Chang, C.T., Chu, X.Y.M. and Tsai, I.T., 2020. How Cause Marketing Campaign Factors Affect Attitudes and Purchase Intention: Choosing the Right Mix of Product And Cause Types with Time Duration.Journal of Advertising Research. Donthu, N. and Gustafsson, A., 2020. Effects of COVID-19 on business and research.Journal of business research.117. p.284. e Silva, S.C., and et.al., 2020. Cause-related marketing in online environment: the role of brand- cause fit, perceived value, and trust.International Review on Public and Nonprofit Marketing.17(2). pp.135-157. Gupta, V. and Anand, S., 2020. Role of Cause Marketing in Behavior Change: Critical Review of India’s Most Celebrated Hygiene Campaigns. Hanzaee, K.H., Sadeghian, M. and Jalalian, S., 2019. Which can affect more? Cause marketing or cause-related marketing.Journal of Islamic Marketing. Petrova,P.andKamenova-Timarevab,M.,2020.Causemarketing–anapproachtowards corporate social responsibility in Bulgaria. Pracejus,J.W.,andet.al.,2020.Fitincause-relatedmarketing:Anintegrative retrospective.Journal of Global Scholars of Marketing Science.30(2). pp.105-114. Ratnakaran, S.T. and Edward, M., 2019. Evaluating cause‐marketing campaigns in the Indian corporate landscape: The role of consumer skepticism and consumer attributions of firm'smotive.InternationalJournalofNonprofitandVoluntarySector Marketing.24(3). p.e1638. Thamaraiselvan, N., Arasu, B.S. and Inbaraj, J.D., 2017. Role of celebrity in cause related marketing.International Review on Public and Nonprofit Marketing.14(3),. pp.341- 357. 12
APPENDIX Skill Audit 1:Easily,2Moderately well,3:Not very well,4: Poorly5:Badly Analysis12345 1Can I put information I have been given into set categories?✓ 2Can I identify similarities and differences?✓ 3Can I compare information against recognised standards?✓ Synthesis / Creativity 4Can I gather relevant ideas and information about a subject?✓ 5Can I sort these ideas and information into categories?✓ Evaluation 6Can I use a checklist accurately?✓ Interactive and Group Skills 7Am I happy working with others?✓ 8Can I put my personal values to one side for group harmony?✓ 9Am I happy not to have my own way?✓ 10Do I produce what tutors ask for on time?✓ 11Do I produce what group members ask for on time?✓ 12Can I use other people’s ideas instead of my own?✓ 13Can I build on other people’s ideas with some of my own?✓ 14Can I accept (constructive) criticism from my peers?✓ 15Can I deal with conflict?✓ 16Can I recognise other people’s strengths?✓ 17Am I able to trust my own judgement?✓ 18Am I sensitive to when others need support?✓ Self-Appraisal, Reflection on Practice 19Can I recognise when I have submitted good piece of work?✓ 20Can I recognise my major strengths and weaknesses?✓ Planning and Management of Learning 21Can I work on my own?✓ 13
22Can I identify necessary activities for myself?✓ 23Can I manage my day so that I meet all of my obligations?✓ 24Can I prioritise the activities?✓ 25Can I break tasks down into manageable size sections?✓ 26Can I organise my time realistically so that I meet deadlines?✓ 27Can I recognise and use techniques that monitor progress?✓ Problem Solving 28Can I follow instructions?✓ 29Can I assess the complexity of a problem?✓ Communication and Presentation 30How well do I recognise key issues?✓ 31Can I identify appropriate ideas and information?✓ 32Can I identify what is not needed in an answer?✓ 33Can I write in a variety of formats: essays, reports & letters?✓ 34Can I present my ideas verbally in different situations?✓ 35Can I adapt my body language appropriately?✓ Practical / Psychomotor (e.g. IT) 36Could I produce this document using IT?✓ 37Am I aware of the problems I could meet using the computer?✓ 14