The 5W Public Relations conducted a survey on 737 American individuals and found that 38% of Americans wouldn’t buy Corona under any circumstance now. Among the population 4% said they would stop drinking corona, however 14% said they wouldn’t order any corona beverage in a public space. Lastly 16% of the population were confused about if the corona beer was related to the corona outbreak.
YouPoll used a ‘buzz score‘ (term in viral marketing used. interaction between consumers and users of a product.) to find out more about the correlation between the beverage and the virus. In at the beginning of January, corona beer had a buzz score of 71 however, that has dropped significantly to 51 by late February even though there is no connection between the beer and the virus. Its shown that from January 18-26 the number of searches for ‘Corona beer virus’ had gone up 2300% globally.
Majority of U.S beer drinkers have substituted the Corona beer due to the similarity of the name ‘Corona beer’ and the ‘Corona Virus’. This demonstrates price of substitutes as the demand for the original good, corona beer, has fallen and consumers are wanting to have a viable alternative.
Due to recent outbreak of the corona virus consumer confidence in the economy is low, therefore causing consumers to save money and spend less on recreation such as beer. This is indirectly a general slowdown on the economy because the pandemic of Covid-19 is influencing consumers to not purchase corona manufactured beverages and start saving more money.
Corona beer worldwide has had a major upset in the supply and demand of international trade due to the Covid-19 outbreak, which has hurt the logistics operation. Corona beer has been experiencing problems with their imports and exports due to the virus outbreak. This has led to the delay of exports of Corona beer internationally.
Ultimately, the Corona beer company has experienced a devastating fall in demand due to the effects of the corona virus on the economy as well as the similarities between the virus and the recreational drink.
Sources:
https://www.eater.com/2020/2/28/21157594/coronavirus-covid-19-corona-beer-confusion-continues
Year 11 MHS Economics 2020 
Poor Corona
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Interesting to see how much damage has already been done. Do you think that Corona Beer will be able to recover in the future, or are they gone for good?
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Nice blog Prenoj. Maybe you could help them out by purchasing a couple of Coronas for yourself?
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A perfect example of how heuristics and mental shortcuts take over our decision-making when there mass-panic and outrage associated with a label. It is interesting how humans can associate the name of a virus with the beer, even though they have no correlation!
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“Its shown that from January 18-26 the number of searches for ‘Corona beer virus’ had gone up 2300% globally.”
it would be interesting to see how many people searched for ‘Corona beer virus’ before the virus. surely not many people would’ve done.
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Intresting blog, would be a good example of the Anchoring effect and would be interesting to explore the effects of Coronavirus and the news : The anchor effect
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Well written how the anchoring effect has an affect on consumers when purchasing certain goods. Good to see that these two have been distinguished, now all the lads can have a safe drink
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