Business Bureau :
The Marketing Forum of Vidarbha Industries Association (VIA) conducted a webinar on ‘Understanding customers psychology during the pandemic’ recently on Zoom. The session was held to help industrialists and traders understand the behavior of customers during the pandemic period and help them plan their business strategy accordingly. Dr Prabodh, a well-known Spiritual Psychotherapist, was the keynote speaker who said that customers psychology during the pandemic has changed and put the world into topsy-turvy. He said the nation becomes a market and the population becomes customers.
“This world is driven by consumerism as it is driven by consumers,” he said adding that the world has enhanced the lifestyle of individuals. Dr Prabodh further elaborated on brand image, human interaction, need identification and distribution alternatives. He said consumer behavior is the key to understand what your customers want from you and how to serve them. “If one is able to understand the emotions and needs of the customers, he or she is more capable to deliver as per the customer expectations,” he said. Dr Prabodh said understanding psychology of customers totally depends upon the individuality, understanding, truth, transparency, ideal selves, kindness and surveys.
“Marketing is very difficult during this tough situation and consumer’s physiology is going to change upto 180 degree. Consumerism is enjoying life, enriching lifestyle and enjoying the resources to its optimisation level,” he said advising the participants that earlier spending power was more but now people are more conscious about savings and focusing on building immune systems as well as spending much on essential items, health related products and more concerned about their immunity. He explained the concept of brand and said brand is a concept of credibility and quality, both are attached to it i.e. emotional attachment and mental image of psychological connect. “In the present situation ‘Brand’ does not attract people too much because everyone’s first priority is to fulfill the basic needs. He suggested that big brand owners should think for charity under their brands as well as do social works, which will intact their brand names in the minds of customers and also help brand owners after the pandemic will be over,” he observed.
He aptly replied to the queries of participants i.e. which industry will run during a pandemic period. He said food sector, essential commodities viz immunity related industries will be coming up in the market, possibility of getting a boom in this sector. He advised startups that be ready with their plans of action and this is a good time and opportunity for startups to think for ventures like food, essential commodities and day to day usable items which will be feasible to start. He said work from home concept will not last long, since few months people have accepted it due to pandemic situation. But very soon after the pandemic will be over, people will restart their work by maintaining social distancing and following safety measures.
Anita Rao, Joint Secretary – VIA: RVK Rao from Jayaswal NECO; Neelam Bowade, Convener HRD Forum, Nisha Sonare, Sanjay Choure, Preeti Upadhye, Anupam and other representatives from industries attended the event. Earlier, Anuja Sharma, Chairperson of VIA Marketing Forum, in her welcome address said it is the most crucial time because of the pandemic situation and time has been changing. Suresh Rathi, President of VIA, in his address, welcomed the speaker and complimented the marketing forum for picking up such an important topic, which would definitely benefit the MSME sector to know more about how the market behaves in a long term, customer’s psychology. Mili Juneja, Convener of VIA Marketing Forum made an opening remark. Prof Ashit Sinha, former Vice President of VIA, proposed a formal vote of thanks.