The Impact of Covid-19 on Small and Medium-sized Enterprise (SME) and its Consumer Behavior

Citation

Manojkumar, Karishma. (2021). The impact of Covid-19 on Small and Medium-sized Enterprise (SME) and its consumer behavior. (Master Independent Study). Bangkok: Siam University.

Abstract

The study is focused to investigate the impact of Covid-19 on Small and Medium sized enterprises (SME) and how it affects their consumers. SMEs are considered to be high economic contributors and a customer centric market. So it is one of the most important industries in every country, but the recent global crisis has severely affected the SME industries. Thus, the study analyzes on how to manage and retain the business and consumers in an unexpected crisis. The study found that the major impact any recession has caused is financial instability, and this has led to other crisis like behavioral changes in employees and consumers. Therefore, the study suggests in reconstructing new marketing strategies and financial policies to sustain in the market and retain the customers during an economic downfall. The study also focusses on identifying different ways to provide recommendations or solutions to improvise the behavioral changes of SME customers in an economic crisis. Finally, this research paper is centered in studying through the changes and damages borne by the Small and medium scale enterprise in an economic outbreak and is set to find out some ideas to improve themselves in the future.

Keywords: Small and medium-sized enterprise (SME), COVID-19, Consumer Behavior.

The Impact of Covid-19 on Small and Medium-sized Enterprise (SME) and its Consumer Behavior

Master of Business Administration (International Program), Siam University, Bangkok, Thailand

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