While the world is going through the Covid-19 havoc, WPP plc releases its point of view on “COVID-19 – INDIA’S SENTIMENT & IMPACT ON BRANDS.” Headquartered in WPP plc are a leading multinational communication, advertising, public relations, technology, and commerce holding company.
This report by WPP aims to give an overview of the Covid-19 current situation in India, and its impact on consumers, brands and media. Some parts will be updated to reflect the evolution of the ongoing situation. This report is the collaborative effort of multiple WPP agencies including Kantar Group, Autumn Grey, Ogilvy, Genesis BCW, Group M, Glitch and VMLY&R.
Here we share 5 Lessons From China That Brands In India Can Leverage, suggested by WPP.
- ‘BLACK SWAN’ EVENTS CAN BREAK A BRAND – OR MAKE IT
‘Black Swan’ events like SARS, the 2008 GFC or COVID-19 are moments-of-truth for brands (and marketers) – A time to clarify their purpose, values, commitments; but equally to demonstrate their agility, creativity and spirit.
- THERE WILL BE AN AFTER
When the rebound happens, it will happen fast, releasing pent-up demand. Most of China goes back to work this week. Our estimate is global supply out of China will normalize in April 2020. For China, the after starts now. India will not be far behind.
- BUT IT WILL BE A DIFFERENT PLACE
Marked by lasting shifts, both attitudinal and behavioural, creating new needs, new priorities – and new competitive opportunities.
- THE KEY IS MANAGING ALL-TIME HORIZONS
Marketers who manage to turn crisis into opportunity are those who consider and address impacts across the short, mid and long term.
- PREPARE FOR THE PRESENT & THE REBOUND
Fortune favours the prepared, agile and decisive – true in good times, even more so in testing ones.