ISBM Pulse: Crisis response

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Current Financial Economic Outlooks

This report composed by by the Chief Investment Office by Merrill Lynch describes how a double exogenous shock from the coronavirus and the oil price war led to historic volatility and liquidity concerns. In this report, economic developments are covered, including the economic recovery in China as well as American trade with Asia, consumer spending developments, demographic developments, and industry developments.

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McKinsey: Reskill Your Workforce to Emerge from the Crisis Stronger

As a result of the COVID-19 crisis, across industries, the workforce needs to adapt to changing conditions. Workers get new roles, activities change. The workforce need to be upskilled in order to deliver adapted business models. This article by McKinsey drafts how companies can develop a talent strategies that develops employees’ capabilities and resilience.

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VOC in the Age of COV

In the age of COVID-19, should companies still engage in market research? Should companies – perhaps better put, how can companies do market research? Could the current crisis even benefit companies that want to field the voice of the customer? Gerry Katz – Vice Chairman of Applied Marketing Science – is an expert of the topic of VOC (Voice of the Customer). He weighs in on how the COVID-19 crisis affects market research. 

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Impact of COVID-19 on B2B Spending and Customer Interactions

The economic effects of the current COVID-19 pandemic are affecting B2B companies worldwide. In an effort to take the temperature in B2B, McKinsey is surveying B2B decision makers on changes in customers’ expectations, spending, and behaviors. The global surveys are part of an ongoing effort. At the time of writing, the results of the April edition are published.

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Business Cycles Research in Marketing (Dekimpe and Deleersnyder) (open access)

Facing the economic consequences of the current COVID-19 pandemic, a recession seems inevitable. In the light of a likely downturn in the economy, academic research on business cycles is more relevant than ever before. For this purpose, we selected a review article by Marnik Dekimpe and Barbara Deleersnyder (Tilburg University), published in 2018, that synergizes the evidence presented in 31 post-2000 marketing studies focusing on the impact of business cycles.

Marketing in Uncertain Times – Managing Communications in Crisis (Andrea Coville and Tom Kramer)

“There are many crisis environments where “laying low” is a sound strategy. This is not one of them.” – Andrea Coville, CEO of Brodeur Partners as part of ISBM’s Marketing in Uncertain Times Town Hall Series. Andrea joined with B2B and B2C marketing expert Tom Kramer, founder and CEO of Essex Digital Platform, to show how businesses are still under-communicating to both customers and employees, why this high risk strategy needs to change, and how to leverage effective communications now and in the future.

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Partnering with Nonprofits to Confront a Crisis (Ballesteros and Gatignon)

The private sector cannot wait and see until the COVID-19 storm is over. They need to act, and be part of the solution. Helping out now may regain the trust that the private sector has lost recently, by demonstrating its ability of mobilizing resources, generating innovations, and scaling them up fast. However, in doing so, firms should consider the unique abilities of the nonprofit sector in times of disaster and crises.