Reference no: EM132893456
Description of the Area of Study: The global COVID-19 pandemic has shocked the world and required nations to make immediate and drastic decisions in the best interest of their citizen's health. Federal recommendations on social distancing, wearing masks, state-wide regulations on which businesses must close or stay open, and varied municipality rules and enforcement have all have created confusion and affected our behavior as we try to overcome the disease.
We have seen large scale unemployment and industry shutdowns, and although we appear to be moving out of the worst scenarios, some economists warn that the worst may yet come, as an economic recession may yet be possible. To add to the dilemma, the delayed rollout of the vaccine is leading to ongoing concerns for 2021.
As most Americans (and world citizens) look forward to life returning to normal, many are wondering what the new 'normal' may look like. That is, has COVID-19 change our society permanently?
Specific Assignment:
You will be looking at this new reality from a marketing and consumer behavior perspective. Explain what changes we might observe in consumer markets in the United States and/or around the world? Will there be new opportunities created? Importantly, how might it change marketing strategy for firms moving forward?