Brands and the New Market Rules

Assessing the company's value proposition and conveying it properly, as well as adapting quickly to the current business environment to create bonds of trust with customers, are part of the challenges that brands must face to survive.

Monday, June 1, 2020

According to experts on issues related to marketing and branding, the severe home quarantines decreed by the Central American governments due to the outbreak of covid-19, has imposed new habits to consumers.

You may be interested in "Consumer of the New normal"

In this scenario, companies must strive to adequately convey the value of the goods or services they offer in the market, since the new normality has caused changes in consumer attitudes, who are now more analytical when buying and try to avoid any expense that seems inappropriate to them.

Gustavo Alvarado, Country Marketing Manager of Google Colombia and Central America, told that "... companies must also evaluate the value propositions of their businesses in order to remain in business. One of the strategies is to capture those potential consumers that are looking for digital platforms to satisfy their needs."

In relation to the boom in online sales, CentralAmericaData reports that so far this year in Central American markets interest in e-commerce services reported a clear upturn, with Guatemala, El Salvador and Panama being the countries that recorded the largest increases in interactions associated with the subject.

Check out the "System for Monitoring Markets and Economic Situation in Central American Countries", developed by CentralAmericaData.

Alejandro Fernández, executive director of Phocus Brand and Innovation, explained that "... to speak of a new normal, may not be very effective since it is a Now Normal, that is, the current normal that has been imposed. Brands and companies must adapt and create bonds of trust with the consumer."

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