A) What growth strategies would you suggest for each of these industries so that they

can grow their businesses in the current pandemic circumstances? Explain your answer
separately for both industries.

For airlines:
As we know that the current pandemic has affected all the businesses and which
resulted in the meltdown of economy and at this point in time the major industry which is
affected is travelling industry all the flights have been cancelled no tourists are coming in and
going out. The article published by gulf news explained about the loss of airlines. Revenue losses
for airlines across the world could total $252 billion this year as against the $113 billion forecast
earlier, as global travel falls victim to the COVID-19 outbreak. This is the third time in a matter
of weeks that the International Air Transport Association (IATA) is forced to update its loss
estimates. Brian Pearce, chief economist at IATA, said on a conference call that recovery in the
aviation world is unlikely to come quickly, and may take longer than six months as the world’s
economy slumps into a deep recession. So this is the current situation in which the airlines are so
keeping all these things in mind I would like to suggest that which one of the growth strategy can
help this industry to survive when you are in doom and gloom. So market penetration would be
the most suitable growth in current circumstances. The foremost thing which should be done in
market penetration that you need to sell the same product in the same market on the basis of cost
and promotion. These two things should be used effectively and how this thing can be done first
of all the virus does not see any gender or anything the airlines make sure that precautionary that
are now become far- famed so the airlines must implement those measures for the safety of
passengers and for that the effective promotions should be done with a proper messaging .It
could be done through billboards, television and so on. The cost is also an important factor but I
think that there is no room for manoeuver so I don’t think so that they can give any discounts and
stuff like that. But hey need to focus on social distancing because it is the most important thing at
this point in time.

For Financial products:

If we talk about financial products they also are suffered with this
because before this pandemic the discount rate set by the state bank was 13.25%and the reason
being is that the investors from other countries where discount rate is in single digit they
deposited their money in Pakistan to get higher returns and inflation was also the thing by virtue
of this the discount rate kept high .But after pandemic the economic activities are affected but
Pakistan economy has been suffering from 70 years we don’t have structures this I personally
think blessing in disguise that now state bank is talking about we should introduce online
banking which is good thing so product development and besides this to provide loans on low
discounts rate especially to SMES (small medium enterprise) because this SMES sector has been
affected a lot. And related to pandemic every organization try to play their role it’s not
necessarily that they should provide masks or that stuff but maybe relaxation in the payment of
interest rate who owe them that is also a help for the people at this point in time. Market
penetration is also a useful tool for them they can give awareness through promotion or by
texting their customers. And also by giving loan to existing businesses so they can cope up with
situation or banks can write-off their loan.

B) Which Selling approach would you recommend for each of these industries, so that they
can increase their sales in the current pandemic circumstances? Explain in detail the
reason for choosing your suggested selling approach.
Travel industry:
Travel industry must go for consultative approach as you know we are in very
vulnerable situation so the customers also require assurity about their safety so they can engage their
customers and give them sense of safety and what measure airlines are taking to ensure the safety
basically here in such approach you offer solution to a problem so which includes to build long term
relationship. In such circumstances this is the only approach we can use.

Financial industry:
The most suitable approach for financial industry should be enterprise selling
approach. Which will be business to business. Give loans to businesses to survive and expand
because the repercussion of this pandemic will be terrible because when there is uncertainty the
money always run away from there because money always require certainty so as we know the
government has allocated a budget of 1200 billion which is just to share the financial loss of
those organizations because this year before GDP as expected 2% but now maybe not maybe in
fact it will be negative which is very alarming thing in Pakistan’s context so the banks should
come up with the comprehensive strategy and focus upon such circumstances.