Impact of CSR on Brand Recognition During COVID-19 Crisis

Abstract

When a crisis occurs, brands need to understand that there is a moment for everything, and now is the time not to focus on big-budget advertisement through any kind of medium to talk about their brand. During a crisis, what brands can do is emerge as customer-oriented and help them with the current scenario. This scenario does not mean there should not be any kind of marketing; however, it can be a way of focusing on the better aspects of the brand and create a positive image about them. Execution of brand awareness should be in a manner that customers are attracted and an impression is created on their mind about the brand. These are the ways that will help a brand come out of the financial situation once the crisis gets over and make profits as well. This was the same situation after the financial meltdown in the year 2008; those brands which had invested earlier and had continued to invest in marketing and advertising recovered the market value and loss nine times faster than those who did not invested.