Pravin Chandan Mentorship Blogs | Business Consultant | Market Strategy

Table of Content: Introduction To Crisis Management Choose The Right Medium Of Communication Anticipating Helps Don’t Use Alarmist Terminology Post-Crisis Analysis Learn The Lessons       Crisis management is often described as steps or activities used by any business to counteract or respond in the face of a major crisis. While it is a relatively younger area of management, it is extremely crucial for the health and growth of businesses in today’s world. Given the pandemic and its unprecedented nature, crisis management is now a top priority across sectors. It is known that the prediction, planning, and forecasting of a crisis and how the business will deal with falls under crisis management, and the ones that emerge, winners, are businesses that predict a crisis much in advance and have an action plan. According to data compiled by McKinsey & Company, the number of headlines that included the word “crisis” and the name of a Forbes top 100 company — and thus ind...

According to Engel, Blackwell, and Mansard, ‘consumer behaviour is the actions and decision processes of people who purchase goods and services for personal consumption’. Consumer Behaviour, also known as buyer behaviour, refers to how individuals are buying, consuming or disposing products or services. As these actions are impacted by multiple factors, studying consumer behavior involves significant research. This takes into account product search, how it’s features are evaluated by people, purchase and consumption patterns, to name a few. The post-purchase behaviour of a product is also studied as it represents whether the buyer is satisfied with it or not. According to a report (www.salesforce.com, nearly 76% of consumers expect companies to understand their needs and expectations. What this means that if you don’t understand what a consumer wants before they can tell you, they are probably taking their business elsewhere. So why is understanding and analysing consumer behavior impo...