Download This PaperThe Effect of COVID-19 On the Changes in Consumer Buying Patterns and Adopted Marketing Strategies by Various Industries in Sri Lanka
14 Pages Posted: 28 Dec 2022
Date Written: December 17, 2022
Abstract
The COVID-19 has hit on almost every aspect of people’s lives and it is one of the critical challenge people have faced since the second world war (Hoekstra & Leeflang, 2020). From the birth of civilization to the present day, people have adapted to a wide range of "conditions or changes," some of which are produced by natural catastrophes and others that are deliberately generated. Throughout a long journey, people will meet painful conditions that have not previously been addressed via various phases of growth, which are known as pandemics(Fernández-Villaverde & Jones, 2022). Identifying the hidden antecedents of consumer behavior during a pandemic is worthwhile because market psychology has a direct impact on how customers react to "pandemic dread"(I. Fernando, Perera, et al., 2021). Addressing "consumer behavior” during this epidemic over the world might send signals to the industrial sectors and it is important to detect consumer behaviors during pandemic periods because changes in consumer behavior have impacted the majority of organizations, thus it is critical to focus on novel marketing strategies. Moreover, researchers showed the importance of identifying the use of particular marketing strategies during a pandemic, as well as shutdowns and lockdowns(Dash & Chakraborty, 2021; Sitorus et al., 2021). Therefore, the primary goal of this research is to conduct an in-depth study on how consumers' purchasing behaviors have changed by the COVID-19 pandemic followed by how diverse sectors of the economy implement different marketing strategies to overcome pandemic obstacles. In this research paper, the researcher focuses on identifying the impact of COVID-19 on consumer behavior patterns and various marketing strategies used by various industries, which can be used even during future pandemic periods.
Keywords: COVID-19, Consumer Buying Behavior, Marketing Strategies
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