IEEE Consumer Electronics Magazine - November/December 2020 - 100

Column: Market Analysis

COVID-19: A Crisis
or a Springboard
Sashikant Mohanty
ZenState Consulting

& THE WORLD WOKE up to a New Year's Day 2020
like no other year in this generation's history.
What seemed to be a localized episode of undiagnosed condition similar to pneumonia in Wuhan,
China, assumed pandemic scale in the entire
world. As Coronavirus (SARS-CoV-2) spreads,
the healthcare systems were overwhelmed
beyond capacity. Research agencies, policy makers, governments, and international health agencies sprang into action.

RESPONSE

Governments around the globe acknowledged the emergency by activating disaster management code. In the days to come, countries
went into stay-at-home, lockdown, economic
activity ground to a halt, with commercial flights
grounded, railways and mass transport services
cancelled. Factories, warehouses, travel, tourism, entertainment, and schools and colleges
closed.1 Hospitals advised patients to defer elective procedures.
With the uncertainty growing, organizations
announced downsizing, investors interest
Digital Object Identifier 10.1109/MCE.2020.3003042
Date of publication 22 June 2020; date of current version
9 October 2020.

100

2162-2248 ß IEEE 2020. This article
is free to access and download, along
with rights for full text and data mining,
re-use and analysis

dropped, and stock markets went downward.
With cost overheads, businesses are under pressure to resume operations.

RECOVERY

While lockdown and reduced activity helped in
containing the pandemic, they have pushed millions into impoverishment. To balance life and
livelihood, a long-term approach is required.2
While larger policy formulation could take time,
corporates are trying to recoup.
As enterprises dabble with the refreshed priorities, here are a few recommendations which could
help draw up an emergent strategy. It cuts across
functions-sales and marketing, people, operations
and finance, and strategy.

SALES AND MARKETING
Repurpose
Many organizations grabbed the opportunity
created by the crisis. They repurposed their
capacities to create and cater to a new market.
For example, a company added a high-quality
personal protective masks to their product
line-that would be marketed exclusively
through fashion app.3 The questions for marketing and sales should include

Published by the IEEE Consumer Technology Society

IEEE Consumer Electronics Magazine



IEEE Consumer Electronics Magazine - November/December 2020

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