Introduction
Nowadays, it is virtually impossible to accurately predict human casualties and economic damage associated with the COVID-19 pandemic. However, it is advisable to consider the individual results of marketing strategies, which will provide a more realistic vision of the possible course of economic processes and assist enterprises in their economic activity. Therefore, the article aims to identify effective instruments for resuming companies’ activities, including business-to-business marketing responses to the COVID-19 pandemic.
Summary of the Article
The selected article focuses on identifying appropriate strategies and actions that business-to-business companies can apply to establish operations in the conditions of COVID-19. The paper uses an approach to analyze the marketing responses of businesses to the global pandemic. Thus, it examines nine attempts to manage the effects of the business decline and divides them into three categories. Accordingly, these are expanding the commodity assortment to address the urgent demands of buyers. It also includes changing the supply chain and switching to digital distribution. Finally, the third group is the investment in advertising and cross-selling (Kang et al. 459). The significance of this research is to evaluate each category of activity and identify the most successful. As a consequence, the article contributes to establishing which processes should be involved to eliminate the negative outcomes of the crisis.
Analysis of the Article
The article explains the adverse impact of the global pandemic on the development and operations of business-to-business firms. To demonstrate to the audience the relevance of this issue, the statement of the International Monetary Fund that the global economy has entered a recession and the consequences could be worse than in 2009 is presented (Kang et al. 454). In my opinion, this declaration draws the reader’s attention to the seriousness of the article’s subject, considering that the target audience of this paper is the business owners. Such a conclusion can be inferred from the title and orientation of the magazine “Marketing Intelligence & Planning” where the study was published (Kang et al.). It is crucial to emphasize that the authors of the article analyzed the existing literature on the subject in addition to the companies’ practices. That is, it provided effective strategies with different theoretical and practical focuses. The principal concepts of more than 20 reputable scientific sources were also researched (Kang et al.). I think this permits me to assert that the conclusions in the paper are reliable and valid.
Moreover, the article begins with an overview of relevant marketing strategies for B2B firms that can enhance cash flow in this recession. Then the methodology and each suggested marketing strategy with examples of B2B in China are illustrated, followed by a meaningful discussion and conclusions (Kang et al.). Specifically, the authors present practical solutions and debate their success, after which they evaluate whether they are appropriate to apply. This pattern of presenting data allows readers to quickly understand and distinguish the material, which facilitates the future application of the research results. Although a few limitations in this article should be highlighted, the authors focused only on the positive functions of B2B marketing strategy, which is cash flow (Kang et al. 467). Hence, they did not consider that B2B firms can also implement financing and integration approaches. There is also a limitation on the locality of the study; it only applies to a sample of companies in China (Kang et al. 468). Therefore, it appears to me that European B2B companies cannot completely rely on the findings of the paper.
Conclusion
Consequently, the study is a significant contribution to the scholarly business literature and provides practical guidance to businesses. At the same time, the authors have established essential strategies that marketers should adopt to adjust new business techniques and models. Despite the fact that the paper suggests advice on how to incorporate marketing approaches to maintaining B2B companies during a pandemic, the issue requires further research.
Work Cited
Kang, Jun, et al. “Business-to-Business Marketing Responses to COVID-19 Crisis: A Business Process Perspective.” Marketing Intelligence & Planning, vol. 39, no. 3, 2020, pp. 454-468. Web.