Day: March 26, 2020

Peer marketing in this climate of global disruption.

5 min read

Opinions expressed by Entrepreneur contributors are their own.

Essentially overnight, a huge proportion of the advertising industry’s inventory has simply evaporated. Like a solar eclipse, COVID-19 has cast a pall over marketers across the globe, leaving many in the dark as to what to do next.

The issues and concerns are real, not hype. Inventory available for purchase has shrunk dramatically. Conferences and other live events are canceled, live sports (previously ad-supported television’s single biggest source of younger audience engagement) are canceled and out-of-home — given the majority of us are at home — is utterly worthless. Media driving to retail is rendered useless as governments begin mandating sheltering in place. 

Comparisons are grim. 9/11. Katrina. Sandy. Rarely before has such an extensive portion of the market — and marketing spend — been disrupted.

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Imagine the chaos: Global stock markets have gone into a tailspin, industries are shutting down, and countries are announcing lockdowns due to COVID-19. In less than a month, Indians find themselves in the middle of a global storm that has disrupted the lives of every citizen. Some sectors, such as aviation, are already cutting salaries and we will know about the magnitude of job losses only at a later date. During such times, money management and supplies become the core focus of all families. But what works for one person may not work for another. A few money management tips for four categories of people:

With an emergency fund and adequate investments: You will survive this financially. For someone with three-six months’ emergency funds in place, well invested and without much loans, this is time to be calm. Nishant Agarwal, Managing Partner and Head –

The food processing ministry on Thursday sent an advisory to states under a nationwide lockdown to allow manufacturing, transport, distribution and retail of packaged foods and beverages amongst others—a move that’s expected to help companies like PepsiCo, Coke, and Nestle.

Many packaged foods and beverage companies have had to suspend production and distribution of their products due to the lockdown and confusion in what constitutes essential food items.

Pushpa Subrahmanyam, the food processing secretary, said in a communication that in understanding food, the definition of “food” would be as per the Food Safety and Standards Act of 2006 under which any packaged or loose food article would be defined as a food product. As a result, manufacturing, transportation, distribution and retail of packaged foods and beverages, milk and milk products which include bakery and dairy, animal feed, pet food, infant and baby food, tea

The Indian surged by another 78 paise to 75.16 (provisional) against the US dollar on Thursday after Finance Minister Nirmala Sitharaman announced various welfare measures to tide through the crisis.

Finance Minister Nirmala Sitharaman on Thursday announced a relief package for the poor and migrant workers in the country in light of the 21-day lockdown in the country to tackle the challenge posed by the (Covid-19) pandemic.

Forex traders welcomed the government initiatives and said the revival of the economy though welfare measures was very much needed as the slowdown in demand was further hit by the pandemic.

ALSO READ: Coronavirus LIVE: Govt presents Rs 1.7 trn relief plan for poor in lockdown

The rupee, which opened on a positive note at 75.90, settled for the day with gains of 78 paise at 75.16 against the American