I found this week’s chapter to be both interesting and informative in regards to everything happening around the world at the moment. Typically, when reading a textbook for a class, I find it difficult to understand how I would apply the concepts to my every day life. However, this time it was different; while reading the information covered throughout Chapter 1, I was really able to understand how relevant it was to our lives in regards to the COVID-19 pandemic. The very beginning of Chapter 1 states that “global commerce thrives during peacetime”. Unfortunately, our world is not at a time of peace and we have already seen its consequences in global commerce. Yesterday I came across this article posted by The New York Times that provides some great insight on how our entire global economy could be affected by this pandemic for a long time.
In the coming months, even years down the road as things (hopefully) clear up and the world begins to resume to normal, I predict that many international companies will have to first focus their marketing strategies on more local or domestic marketing than international because I believe that many consumers will be hesitant at first to purchase foreign products. We have already began to see this as many communities are encouraging consumers to “shop local” and support small businesses throughout this time. In fact, if you are looking to support local businesses while enjoying some fresh and healthy take-out, I recommend you check out The Press Coffee & Juice Bar offering daily deals and curbside grocery pick-up.