THE INFLUENCE OF MARKETING PRODUCT POLICY ON CONSUMER BEHAVIOUR IN CRISIS

Abstract

The COVID-19 crisis radically changed the trends of the global economy, formed new consumer trends and forced companies to change their marketing strategy, in particular marketing product policy, because the introduction of social distance affected the social and economic life of the population and their consumer habits. The study of consumer behavior in the new economic realities will allow making timely adjustments to marketing product policy taking into account consumer trends and value priorities, as well as developing recommendations for the formation of marketing product policy based on the value proposition. To achieve this goal the impact of marketing product policy in times of crisis on consumer behavior was analyzed; consumer trends in times of crisis were identified; options for strategic decisions of product policy were considered and recommendations were developed for domestic producers on the process of improving marketing product policy in times of crisis; directions for forming and strengthening brand image and strengthening brand confidence were proposed. It is determined that only those enterprises that study consumer trends, act actively, maintain the image and win the favor of consumers will survive and develop in the future in the crisis. It is noted that it is necessary to plan the marketing product policy of companies taking into account the components of digital marketing. It has been proved that the improvement of marketing product policy should take into account consumer trends, ensure the value of the supply and require a strategic approach. This means that the decision on the brand should be made not only from the point of view of current interests, but also taking into account what the future of the company should look like. Improving the marketing product will allow companies to create relevant products, increase the efficiency of online sales, increase the brand image, make customer choices and influence consumer behavior, which will increase consumer satisfaction, trust in the brand, constant sales and stable profit. Further research is advisable to focus on the justification of consumer loyalty and loyalty to the brand. Certain provisions of scientific research can be used in the educational process and in the writing of scientific papers.