Marketing Strategies for Frozen Foods and Banking in Pandemic

This report analyzes the impact of the Covid-19 pandemic on consumer behavior and the subsequent marketing strategies for two distinct product categories: frozen food and banking services. It begins by highlighting the shifts in consumer preferences, such as the increased reliance on online shopping and reduced social interactions, and how these changes influence product selection. The report then examines McCain's frozen food products, detailing the factors influencing consumer purchasing decisions, including age, lifestyle, and product packaging, and suggests marketing adjustments like increased online advertising and promotional discounts. Subsequently, the report addresses banking services, focusing on the influence of income and work status on customer deposits and proposes improvements such as deposit machines and online service enhancements, along with the importance of advertising. The report concludes by emphasizing the need for businesses to adapt their strategies to meet the evolving needs of consumers in the post-pandemic era, ensuring continued market relevance and growth.

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1. The global disease i.e. CoVid19 had affected economies on a large scale and had a
significant long-term effect on customer’s preferences and needs. Firstly, due to the
adoption of the common measure say, social distancing, people have changed their attitude
to be away from crowds and not to spend their leisure time in theatres, public parks,
shopping malls, and so on. Secondly, people are more dependent on the internet. People
have now adopted the different mediums of entertainment i.e. watching movies on Netflix,
playing indoor games, video conferencing with family, friends, and relatives. Moreover, the
customer is now moving towards e-shopping where they buy home utilities, food, groceries
online instead of physical shopping from respective stores/restaurants.
Various factors deal with the selection of the product and decide whether a customer will
buy or not. The top among them is a personal, psychological and economic factor.
Personal factor- This is dependent upon age, personal lifestyle, family size, and gender. For
instance, when an individual has a large family of 7-8 people, they focus more on buying
online as consumption would be on the higher side and it is difficult for buying a huge
quantity by physically shopping in such pandemic days (Mintz and Currim, 2013).
 Psychological factor- These are completely dependent upon perception, learning beliefs and
attitude of an individual.
 Economic factor- This derives the price of the commodity and has an influential role in
deciding whether to purchase or not. Some people do have much buying power could not
able to afford branded or costly products and focus more on the affordable product(Terpstra,
et al., 2012).
2. Selected product is ‘Frozen Food’ by ‘McCain’. These are various varities of food that are
packed in such a way that they can be ready to eat in just 5 minutes after frying them in oil.
3. There are various frozen food products available in the market with competitive price but
McCain is one of the oldest companies in the manufacturing of frozen food and is
maintaining good value to the customer in terms of perishability, price, varied range of
products and market capture. One can buy such products across the globe from almost every
supermarket in the country. These products are designed in such a way that they are easy to

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prepare and provide the highest convenience to the customer when they need snacks
immediately (Shih, et al., 2010).
4. Firstly, the major age of an individual plays a major role in deciding they would buy or not.
This is commonly seen that people of 15-30 years are much fond of having such type of
snacks. Thus young age people prefer more such frozen food. Secondly, lifestyle is also a
characteristic. A working adult who is short of time in morning and evening in cooking, do
also prefer such ready to eat items.
5. The product should come up with more secured packaging like using thick plastic or
aluminum wrapping which can prevent internal items from being harmed by any germ or
virus.
6. The prices of the products will not be changed and even start providing a discount on MRP
to attract more customers. This will also help the company in reducing the existing stock
level which maintains the perishability of the product.
7. Firstly, the company should increase investment in advertising for such products on the
internet as people are spending much time on the internet during the lockdown. Moreover,
fancy discounts should also be an offer by the company to allure many customers.
8. First of all, would like to get this product listed in various national and international mobile
apps providing home delivery of groceries. By this, the product will maintain its customer
market in such pandemic times or even approach to new customers as well.
9. Banking service is chosen which provides the services like, loan availment, deposits and
withdrawal, forex, stock trading and so on.
10. Banking services primarily focus upon deposits from people and major characteristics would
be whether an individual is working or not. Because a person who is earning either from
business or from the employer will deposit money into the bank. Another characteristic will

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be the amount of earning where a customer who earns more prefers to deposit much into the
bank account to keep money safe .
11. Bank will install deposit machines in every location, consider the size of their customers so
that people are no longer require to travel a lot to the bank for depositing money. Also, they
should put more investment in providing all services online without compromising security.
12. Pricing/brokerage/interest charged by the bank should be kept low for some time to change
the banking habits of the customer. These will attract more and more customers towards
banking. For instance, people who do not earn much did not deposit their money into the
bank due to inconvenience and charges applicable. Thus when these banks come with more
services at a lower cost, more people will tend to use such facilities (De Mooij, 2019).
13. The bank should advertise its brand and quantum of services available in national or
international magazines, newspapers, television or the internet by portraying their financial
statement and quarterly growth so that more people will become a customer of such bank.

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Reference
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De Mooij, M. (2019). Consumer behavior and culture: Consequences for global marketing and
advertising. SAGE Publications Limited.
Mintz, O., & Currim, I. S. (2013). What drives managerial use of marketing and financial metrics
and does metric use affect performance of marketing-mix activities?. Journal of
Marketing, 77(2), 17-40.
Shih, K. H., Hung, H. F., & Lin, B. (2010). Assessing user experiences and usage intentions of
m-banking service. International Journal of Mobile Communications, 8(3), 257-277.
Terpstra, V., Foley, J., & Sarathy, R. (2012). International marketing. Naper Press.