Identifying new opportunities from the pandemic crisis
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abstract
The pandemic crisis has changed economic and social behaviors. Companies are trying to redesign their
products in order to identify new segments of the market. So, the research raises the present question: is
it possible to react to market dynamics with the same speed, intensity, and frequency as they occur?
Aiming to understand this process, the objective of this investigation is to explore best practices
developed during the pandemic crisis.
RESEARCH METHODS
The factors related to the identification of new niche markets (OECD, 2018) had to be restructured,
Marketing innovation involves design changes (new concepts) and supply changes (regarding
distribution, pricing policy, promotion, or communication) of the product (Purchase & Volery, 2020)
using techniques to influence the overall results (Cuevas-Vargas et al., 2020). Digital channels can offer
different alternatives and add value (Tang et al., 2021). Through marketing innovation, it is possible to
transform a crisis momentum into an opportunity.
The case study is a qualitative strategy that allows delving deeper knowledge into the phenomenon, in
a real-life context (Stake, 1995; Yin, 1989; 2003). In this sense, it can be used when the objective is to
better understand the phenomenon understudied of pandemic context (Kotlar & De Massis, 2013; De
Massis & Kotlar, 2014).
The method considered appropriate is qualitative research through individual in-depth interview,
oriented by a semi-structured guide with twelve open questions in relation to three theoretical
dimensions: Product Concept, Decreased Social Contact and Marketing Innovation. A face-to-face
business corporation of event management was identified. An interpretative analysis of the data
collected in the interview was developed according to these theoretical dimensions.
The interview was conducted online, via the Zoom platform, on the twenty-eighth of January, two
thousand twenty-one, and lasted approximately one hour and fifteen minutes, recorded on video and
served as the basis for the transcribed information. Data also were collected by informal interactions, and analyzed through an interpretative process associated with the categorization according to the
variables: Product Concept, Decreased Social Contact, and Marketing Innovation.
RESULTS AND DISCUSSION
The development of the new product concept (D'Attoma & Ieva, 2020) adapted to the new reality of
limited social contact, integrating online and hybrid events, result in a business "opportunity" to be
explored, even after the pandemic crisis. The findings result point out a few new competencies regarding
the digital and virtual environment, as well as the willingness to learn these new skills. The main
contribution to the knowledge is identifying optional units or skills to be implemented by higher
education institutions regarding tourism courses and similars.
IMPLICATIONS
Integration practice and academic fields seem necessary to meet the challenges of the dynamic market,
in order to develop future generations of professionals with suitable skills and competencies. Sharing
the best practices contributes to the debate of which competencies are necessary to be developed on
students in order to be employed in the following years. This process can be used for teaching and
training new generations. Training and flexibility are important to the development of capabilities that
support future professionals through learning.
The significance of these results is associated with the size of an unprecedented crisis for the present
generations, as well as the difficulty of managing those implications. Then, it is suggested that future
research could identify the main competence and measure it. It is important to understand which
competencies and skills should be initially developed. Digital channels can offer new concepts and, at
the same time, add value. And marketing innovations help to transform a crisis into an opportunity.