Assignment - 01

A Comprehensive Literature Review on Marketing strategies

adopting by various industries in the global within the pandemic
period

U.S.N.N.T. Undugoda
UWU/ENM/18/027
Faculty of Management
Department of Management Sciences
Entrepreneurship and Management Degree program
Enm18027@std.uwu.ac.lk

Electronic copy available at: https://ssrn.com/abstract=4315683

1. Abstract

Marketing is one of the most important roles in all sectors. Selecting the most effective marketing
plan either propels the firm to success or determines its collapse. The marketing strategy that the
firm implements will decide the integrated strategy to reaching its intended audience. This study
mainly focused on comprehensive literature on different marketing strategies adoptions by
different industries in Sri Lanka and the global context with the covid 19 pandemic and the
economic crisis situation. By analyzing the literature, this study mainly focused on four main
industries in the world that used different marketing strategies in the covid 19 pandemic period.
According to that, apparel industry, FMCG industry, SMEs industry and the tourism industry has
used different marketing strategies to overcome from the crisis. Specially in apparel industry, they
focused on visualization in buying and the consumer ethnocentrism as their main marketing
strategies. With the covid 19 pandemic situation many industries have focused their attention on
the virtual marketing strategies as there was a limitation of social distance. Hence, this
comprehensive literature analysis will assist to identified different marketing strategies used by
different industries in the global context.

Keywords: - Marketing strategies, COVID-19 Impact, Visualization in buying, Consumer

Ethnocentrism

Electronic copy available at: https://ssrn.com/abstract=4315683

2. Introduction

In the current scenario, the corporate world is expanding quickly these days due to new trends,
technology, and methods. Because of this, there is increased rivalry among organizations that are
comparable, and they are utilizing various techniques and strategies to deal with the difficulties.
In generally each and every organizations are tending to use marketing strategies to retain in the
market and compete with their rivals. Hence, marketing strategies are taken major part in the
current business world. With the covid 19 impact and economic crisis, most of industries in the
global world has been rapidly downturned. Therefore, the economy of the country is also
downturned and many industries followed different marketing strategies to overcome from that
situation. The prior literature has shown that the latest COVID-19 epidemic won't be the final
pandemic, thus it's necessary to look at previous data and outbreaks of these pandemics so that
nations can take greater precautions for any future crises that may arise. In actuality, a pandemic
or epidemic denotes an overwhelming spread of a disease throughout a region (Ravindra
Deyshappriya, n.d.). In this scenario, industries have to consider the marketing strategies to
overcome from this situation. (Ranasinghe et al., n.d.) has stated that the worldwide new Corona
epidemic has not only paralyzed whole socioeconomic systems, but it has also put the globalization
and activities of businesses in jeopardy. Ironically, possible consequences and other options
remain brittle. However, in the majority of the worsening economic sectors, a durable and new
beginning is required for a quick recovery and restoration of the economy, employment, and
commercial operations. (Roshana et al., 2020) explained that the pandemic had an impact on
demand, distribution methods, manufacturing and supply chains, tourism, and trade. Prior to the
COVID-19 pandemic, the Central Bank of Sri Lanka considered 4.5–5% economic growth to be
typical. Despite this, it is challenging to achieve this goal because to the outbreak. The Sri Lankan
economy is anticipated to grow at a 2.2% annual rate in 2020, according to the Asian Development
Bank's assessment from April 2020.By considering about this situation, the current study has
aimed to focus on different marketing strategies that are followed by different industries to
overcome from the covid 19 pandemic and the economic crisis. In here, this study mainly focusses
on apparel sector, FMCG sector, tourism sector and the SMEs as they are the most effected
industries from the covid 19 pandemic and they highly contribute to overcome from this crisis
situation by following different strategies in time to time.

Electronic copy available at: https://ssrn.com/abstract=4315683

3. Marketing strategies

The process through which a business advertises the acquisition or sale of a good or service is
known as marketing. Marketing examples include advertising, selling, and delivering goods to
customers or other firms. Similar firms are facing increased rivalry, and they are utilizing various
methods and approaches to deal with the difficulties. One of the key elements of the contemporary
context, among the various strategies, is marketing strategy. Marketing strategy refers to how well
a business stands out from its rivals by leveraging its advantages to continue providing consumers
with better value than its rivals.(Wijekoon & Fernando, 2020) greatly explained that as customers
want more engagement in value creation, many businesses are now focusing on going above and
beyond to meet their demands. Relationship marketing is a method of connecting with consumers
that will result in relations that are beneficial to both parties and increase customer value.

(Belz & Schmidt-Riediger, 2010) revealed that environmental sustainability has been especially
essential and a challenging issue in some organizations and Companies, impacting marketing
strategies. According to the (Notta & Vlachvei, 2015) , firms make significant changes to their
marketing strategy and marketing philosophy during an economic downturn. Empirical study
examines either modifications in each component of the marketing mix independently, or
adjustments to product strategy, and suggests discontinuing poor and unprofitable items and
spending correspondingly on more than just R&D. According to contemporary market customer
behavior, marketing methods appear to have directly captured the consumer thinking.
Furthermore, statistics from various research indicate that marketing is a strategy for raising
awareness and meeting customers' requirements and desires. However, this is presently being
revolutionized as a trend of producing more needs and desires rather than meeting needs.

(Agzamov AT et al., 2021) explained that the marketing strategy should precisely define the
segments of the market in which the company should focus the majority of its efforts. Following
the successful development of the marketing strategy, the business may proceed to construct a
comprehensive schedule of operations for the manufacture and sale of goods. It is now required to
select competent executors, set timelines, and decide the cost level. An organization can use this
tool to create a budget for the current fiscal year. By considering the current literature, this study
examines the different marketing strategies followed by different industries in the Sri Lankan and
global context with the covid 19 impact.

Electronic copy available at: https://ssrn.com/abstract=4315683

3.1. Marketing Strategies of Apparel Industry in covid 19 period
With the impact of covid 19, many industries in the world has been rapidly downturned and
different industries have used different marketing strategies to overcome from this situation.
Apparel industry in Sri Lanka has largely contributes to gain foreign exchanges to the Sri Lankan
economy by using different marketing strategies. In the global apparel industry also focused their
attention to follow different marketing strategies in the apparel sector with the pandemic situation.
According to the (Gereffi et al., 1994) as global economic restructuring has historically resulted in
power transfers across production networks, there may be sustained interest in this globalization
process in the garment industry. This argument underlines the necessity of historical study for the
garment sector as a prominent company in the international market.

Because of the impact of COVID-19 in India, garment shares have dropped by up to 50% during
the first quarterly of FY21. This happens because recession have resulted in massive inventory
pile-ups, and the summertime collection must still be pushed out over a longer time period and the
creation of the autumn-winter season still needs to be began. Many brands began implementing
new tactics as a result of all of these causes (J.M. et al., 2020). Moreover, it has emphasized some
strategies that used in Indian apparel sector. Among them visualization in buying is a one of most
considerable strategy that used in apparel sector. According to that the technologies of augmented
worlds and AI aids in the promotion of the virtual platform, that intends to fight the shortage of
sales caused by the cancellation of physical fairs globally owing to the emergence of COVID19.
The Fiber2fashion launched the F2F Purchasing Show 2020 - The Online Trade show as a virtual
tradeshow.

Consumer ethnocentrism can describe as "a consumer belief regarding the suitability, even
morality, of buying a foreign-made goods and consumer loyalty to items created in their native
country." This strategy highly applying in the apparel industry as a marketing strategy. (Y.K.H.
Dinesha Costa et al., 2018) stated that with the effect of globalization, some firms are looking for
ways to extend their worldwide market. In certain nations, customers prefer locally created items
to foreign-made ones to display their patriotism. However, in order to receive the most worth for
their money, consumers may occasionally sacrifice personal ethnocentrism as well as patriotism.
In according to theses literature, apparel sector has used consumer ethnocentrism and the
visualization in buying as their marketing strategies.

Electronic copy available at: https://ssrn.com/abstract=4315683

3.2. Marketing Strategies of FMCG Industry in covid 19 period
FMCG stands for fast moving consumer goods, which are often purchased necessities or non-
essentials such as meals, soft drinks, pampers and toiletries. They are items with a short turnaround
and a low cost. Consumer Packaged Goods are another name for fast moving consumer goods.
(Assistant Professor, 2016) has stated that FMCG businesses have recognized the significance of
the rural market and have begun to tap into it through different marketing techniques and
efforts.(Steenkamp, 2009) has mentioned that as committed customers experience greater
switching costs when purchasing non-preferred goods, high-equity brands are also more protected
against by the changing to private labels behavior that is common during downturns. After a
product-harm issue, increased brands are known to endure less and recover quicker. When
confronted with an economic downturn, the same remains true. Moreover, it has mentioned that
by raising its spending in marketing or new product activities, the brand can offset the pricing
advantage of private labels. Image and greater performance outcomes are both non-price reasons
to select the manufacturing brand. However, our study reveals that during recessions, marketing
and development activity diminishes.

According to the (Sharma, 2013), he has mentioned main four marketing strategies that used in
FMCG sector. They are Rural growth, Innovation Imperative, Shopper Marketing, Connecting and
engaging with the Indian Digital consumer. (Varasteh et al., n.d.) has greatly explained that the
findings revealed that the most significant changes occurred in the factors "discount coupons" and
"mobility in customer reimbursement," correspondingly, while "comparing pricing to that of
competitors" was the least influential. Furthermore, the most substantial changes in ranking were
observed in "the monitoring and management of ways of dealing" and "managing distributors,"
respectively, with "distribution based on market demands" ranking last.(Ali & Muhammad, 2021)
argued that nowadays, businesses are focused on numerous methods to attract and keep customers
by employing various sale marketing strategy such as offering a free sample of a product to people
in shopping centers, supermarket, retail stores, or through different channels. Similarly, price
reduction, sometimes known as value decline, is the act of lowering the sales price of products by
offering a discount or diminishing the worth of doing something. Furthermore, but not least,
presenting deals such as purchase one, get one free, or double for the price of one is a typical type
of advertising tactic. According to these analysis, FMCG sector used these marketing strategies.

Electronic copy available at: https://ssrn.com/abstract=4315683

3.3. Marketing Strategies of tourism Industry in covid 19 period
In past few decades, the global tourist sector has experienced several crises, including those caused
by diseases and health difficulties. It's no secret that the tourist industry must incorporate internet
marketing into one of its tactics. The new approach necessitates methodologies that alter the way
we interact, strengthening the communications that reach us daily, which are sometimes
ineffective, with others that attract customer, generating a win/win connection between the brand
and the customer.

(Sánchez-Teba et al., 2020) has mentioned that the purpose of that article is to provide the statistics
gathered at the Costa del Sol Planning and Tourism Board as part of its managers' Inbound
Marketing plan. Similarly, they give suggestions so that those data may be utilized to attract new
visitors in order to overcome the serious problem produced by the epidemic. According to the
(Ketter & Avraham, 2021), it emphasized the different marketing strategies that used in tourism
industry in covid 19 pandemic period. Further it has described that the first set of post-lockdown
marketing techniques includes: hope and inspiration, the brotherhood of man, and longing and
nostalgia. Moreover, it has deeply discussed the image restoration tactics adopted by tourism
marketers during prior picture crises were classified into three major groups in the tourist crisis
marketing concept. First one is Source/Media tactics, which are utilized when officials want to
affect the destination's coverage in the media tendencies in one of the media organizations. Second
one is message methods that focus on addressing the substance of the location's bad image and
audience strategies that focus on building affinity with a particular audience.

(Toubes et al., 2021) mentioned that online sources of information surpassed consulting friends
and family, and a significant development in digitization is projected, with traditional travel
agencies being overtaken by online platforms, with the exception of expert and consulting firms.
Furthermore, technology such as virtual reality (VR) and artificial intelligence (AI) may play a
growing role in the medium future.(Kristiana et al., 2021) stated that tourist workers are now
working outside the tourism industry to make ends meet, but once tourism resumes normal
operations, they will return to the primary occupations. The government's objective is to improve
resilience at the meso level, with a concentration on tourism attractions. That study's findings
imply that stakeholders in the tourist sector must be creative and imaginative in order to combat
this epidemic. According to these studies tourism industry has used several marketing strategies.

Electronic copy available at: https://ssrn.com/abstract=4315683

3.4. Marketing Strategies of SMEs Industry in covid 19 period
The world economy and environment have undoubtedly been impacted by the COVID-
19 pandemic. Micro and Small Enterprises (MSEs), particularly in poor nations, have been
particularly hard hit by the COVID-19 epidemic, owing to their limited usage of digital
technology.(Bai et al., 2021) emphasized that MSEs should prioritize digital payments, particularly
mobile money, as a crucial digitalization goal. Institutions must also assist MSEs in developing
the expertise and resources needed to implement digitalization for business continuity and
sustainability consumption and production. This research advises that MSE executives and other
stakeholders reconsider their company strategy, integrating crisis situations and continuity
planning plans to virtually sustain consumers in order to improve long-term development.

According to the (Fernando & Kumari, 2020) , it clearly defines that the customers' purchasing
method has been divided into three categories: (a) informative promotions, which are beneficial at
the initial stages of the purchase: recognition and comprehension, (b) persuasive promotions,
which are useful at the intermediate stage of the customer journey: attitude, intention, and buying,
and (c) after having consumed the services: notification marketing. Furthermore, it has revealed
that the majority of responders emphasized the necessity of formal marketing like as advertising,
sales promotions, and public relations during the pandemic, during "NEW NORMAL," a smaller
proportion of responders emphasized the absence of formal marketing techniques and the
relevance of informal means. In addition to that the majority of responders emphasized the
significance of virtual marketing space. During the pandemic, the majority of MSMEs built or
improved virtual marketing opportunities, believing it to be a long-term strategy.

(Nugraheni et al., 2020) ,according to the findings, SMEs executed a plan that includes enhancing
product quality, improving service quality, and leveraging technology.(Che Omar et al., 2020) has
mentioned that in order to stay adaptable amid unforeseen situations, company operators and
SMEs must adopt innovative marketing platforms and technology. As a result, the capacity to
convert and optimize internal resources has been identified as a valued skill strategy. (Dzisi & Ofosu,
2014) has stated that strategic marketing plans are drivers of organizational positioning in a
changing environment, and that they aid in the creation of new products/services for current
markets. The study's findings also show that no technique is superior than the other; finding the
proper blend of both media can develop the greatest communication/marketing plan for SMEs.

Electronic copy available at: https://ssrn.com/abstract=4315683

4. Conclusion and recommendations

This study mainly focuses on comprehensive literature analysis of marketing strategies adaptations
by the various industries in the Sri Lankan and global context specially in the covid 19 pandemic
situation. By considering the prior literature, it clearly mentioned that with impact of covid 19,
there was an economic downturn in the world wide and many industries had also been downturned.
Hence, many industries have followed different marketing strategies to overcome from this
situation. In apparel industry mostly engaged marketing strategies are Consumer ethnocentrism
and the visualization in buying. In FMCG industry new product activities, pricing advantage of
private labels are the marketing strategies that used. In tourism industry, virtual reality (VR) and
artificial intelligence (AI) is significant strategies and in SMEs industry, virtual marketing
opportunities are most important marketing strategy. By considering these literature, different
industries have used different marketing strategies in covid 19 period. To overcome from the
current situation, there are some suggestions that any industry can commonly followed without
considering their industries. They are use influencers to reach customers, show empathy and social
good, maintain consistent brand messaging and Keep customers engaged. If any industry follows
these strategies, it could be able to overcome from this situation.

Electronic copy available at: https://ssrn.com/abstract=4315683

 5. References

Agzamov AT, Rakhmatullaeva FM, & Giyazova NB. (2021). MARKETING STRATEGY FOR THE
COMPETITIVENESS OF MODERN ENTERPRISES. www.econferenceglobe.com

Ali, A., & Muhammad, K. (2021). IMPACT OF PROMOTIONAL TOOLS ON CONSUMER BUYING BEHAVIOR:
A CASE OF FMCG INDUSTRY. In Journal of Marketing Strategies (Vol. 3, Issue 1).

Assistant Professor, S. v. (2016). Marketing strategy of FMCG product: A case study of Hindustan
Unilever limited. In International Journal of Academic Research and Development (Vol. 1, Issue 9).
http://www.google.com

Bai, C., Quayson, M., & Sarkis, J. (2021). COVID-19 pandemic digitization lessons for sustainable
development of micro-and small- enterprises. In Sustainable Production and Consumption (Vol. 27,
pp. 1989–2001). Elsevier B.V. https://doi.org/10.1016/j.spc.2021.04.035

Belz, F. M., & Schmidt-Riediger, B. (2010). Marketing strategies in the age of sustainable development:
Evidence from the food industry. Business Strategy and the Environment, 19(7), 401–416.
https://doi.org/10.1002/bse.649

Che Omar, A. R., Ishak, S., & Jusoh, M. A. (2020). The impact of Covid-19 Movement Control Order on
SMEs’ businesses and survival strategies. Malaysian Journal of Society and Space, 16(2).
https://doi.org/10.17576/geo-2020-1602-11

Dzisi, S., & Ofosu, D. (2014). Marketing Strategies and the Performance of SMEs in Ghana. In European
Journal of Business and Management www.iiste.org ISSN (Vol. 6, Issue 5). Online. www.iiste.org

Fernando, I., & Kumari, K. W. S. N. (2020). Learning to Live with COVID-19: MSMEs Perception and
Strategies on Business Promotions , Uva Region-Sri Lanka. SSRN Electronic Journal.
https://doi.org/10.2139/ssrn.3727210

Gereffi, Gary., Korzeniewicz, Miguel., Wallerstein, I. M., & Political Economy of the World-System
Conference (16th : 1992 : Duke University). (1994). Commodity chains and global capitalism.
Greenwood Press.

J.M., S., S, K. D., & S, K. (2020). Apparel Industry - The New Normal. Research Journal of Textile and
Leather, 59–63. https://doi.org/10.46590/rjtl.2020.010301

Ketter, E., & Avraham, E. (2021). #StayHome today so we can #TravelTomorrow: tourism destinations’
digital marketing strategies during the Covid-19 pandemic. Journal of Travel and Tourism
Marketing, 38(8), 819–832. https://doi.org/10.1080/10548408.2021.1921670

Kristiana, Y., Pramono, R., & Brian, R. (2021). Adaptation Strategy of Tourism Industry Stakeholders
During the COVID-19 Pandemic: A Case Study in Indonesia. Journal of Asian Finance, Economics
and Business, 8(4), 0213–0223. https://doi.org/10.13106/jafeb.2021.vol8.no4.0213

Notta, O., & Vlachvei, A. (2015). Changes in Marketing Strategies during Recession. Procedia Economics
and Finance, 24, 485–490. https://doi.org/10.1016/s2212-5671(15)00615-2

Electronic copy available at: https://ssrn.com/abstract=4315683

Nugraheni, A. P., Pramudyastuti, O. L., & Sunaningsih, S. N. (2020). STRATEGY OF SMEs IN THE COVID-19
PANDEMIC PERIOD. Jurnal Akuntansi & Perpajakan, 2(1).

Ranasinghe, R., Damunupola, A., Wijesundara, S., Karunarathna, C., Nawarathna, D., Gamage, S.,
Ranaweera, A., & Abdulla Idroos, A. (n.d.). TOURISM AFTER CORONA: IMPACTS OF COVID 19
PANDEMIC AND WAY FORWARD FOR TOURISM, HOTEL AND MICE INDUSTRY IN SRI LANKA.
https://ssrn.com/abstract=3587170

Ravindra Deyshappriya, N. P. (n.d.). Economic Impacts of COVID-19 Macro and Microeconomics

Evidences from Sri Lanka.

Roshana, M. R., Kaldeen, M., Banu, R., & Rifna Banu, A. R. F. (2020). IMPACT OF COVID-19 OUTBREAK ON
SRI LANKAN ECONOMY Sustainable management of fall armyworm using resistant maize varieties
with improved biomass, semiochemicals and bio-pesticides technologies, and development of
nutrient-rich maize-based food and feed in Sri Lanka View project Retail Marketing View project
JOURNAL OF CRITICAL REVIEWS IMPACT OF COVID-19 OUTBREAK ON SRI LANKAN ECONOMY.
https://www.researchgate.net/publication/343587416

Sánchez-Teba, E. M., García-Mestanza, J., & Rodríguez-Fernández, M. (2020). The application of the
inbound marketing strategy on costa del sol planning & tourism board. Lessons for post-covid-19
revival. Sustainability (Switzerland), 12(23), 1–15. https://doi.org/10.3390/su12239926

Sharma, D. N. (2013). MARKETING STRATEGY ON DIFFERENT STAGES PLC AND ITS MARKETING
IMPLICATIONS ON FMCG PRODUCTS. In Financial Services & Management Research (Vol. 2, Issue
3). www.indianresearchjournals.com

Steenkamp, J.-B. (2009). Marketing strategies for fast-moving consumer goods Marketing mix
effectiveness View project Private Labels View project. http://www.ft.com/...c8-f2b0-11dd-abe6-
0000779fd2ac,dwp_uuid=af1c5354-e0d1-11dd-b0e8-000077b07658,print=yes.html#[2/6/2009

Toubes, D. R., Vila, N. A., & Fraiz Brea, J. A. (2021). Changes in consumption patterns and tourist
promotion after the covid-19 pandemic. Journal of Theoretical and Applied Electronic Commerce
Research, 16(5), 1332–1352. https://doi.org/10.3390/jtaer16050075

Varasteh, H., Delkhah, J., Reza, H., & Assistant, Y. (n.d.). Explaining the Appropriate Marketing and Sales
Strategies of Companies during the Recession (Case Study: FMCG Industry).
https://doi.org/10.22059/jibm.2019.270659.3339

Wijekoon, W. M. S. P., & Fernando, I. (2020). Mediatory Role of Brand Love in the Relationship between
Brand Experiences and Brand Loyalty (Special Reference to FMCG Sector in Sri Lanka). International
Journal of Scientific and Research Publications (IJSRP), 10(2), p9870.
https://doi.org/10.29322/ijsrp.10.02.2020.p9870

Y.K.H. Dinesha Costa, P.I.N. Fernando, & Upeksha. A.S. Yapa. (2018).
The Effect of Ethnocentrism and Patriotism on Consumer Preference (Special Reference to
Handloom Products in Sri Lanka),. Journal of Management and Tourism, 1(2).

Electronic copy available at: https://ssrn.com/abstract=4315683