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Marketing Tips for Turbulent Times
(Marketing Memo February 2010)
Since Fall, 2008, our "new normality" has been a state of "heightened
turbulence and chaos" that challenges leaders in business and government,
observe Philip Kottler and John A. Caslione, authors of Chaotics:
The Business of Managing and Marketing in the Age of Turbulence
(AMCOM: 2009). During turbulent times businesses should be pro-active
and correct weaknesses while spotting and seizing new opportunities.
Tips for Marketers in Turbulent Times
Kottler and Caslione urge companies to "increase marketing muscle"
and maintain, not reduce, marketing budgets during recessions. Other
suggestions for marketing departments are to:
- "Secure your market share from core customer segments" before seeking
- Win market share from competitors that have the same type of customers
as your business has.
- Recognize the pervasive feeling of insecurity, and "sell customers
products and services that continue to make them feel safe."
- Assess marketing programs, and drop marketing programs that aren't
- Protect the prices of your best brands as discounting makes original
prices seem inflated. Also, you may not be able to restore the original
prices later on.
- Strengthen your strongest brands and products, and eliminate the
- Research customers more than ever because their needs and wants
are in flux. Because of this volatility, your current marketing messages
could be obsolete.
What type of market research does Winett Associates recommend during
- Talk with customers and prospects about changes in their situations
and shifts in their preferences and buying habits that could impact
your company. Online surveys may not pick up these trends.
- Identify and track moves by competitors that could create opportunities
for your company. Such moves include acquisitions, changes in products
and product prices, changes in trade show participation, changes in
marketing programs, and the formation and dissolution of strategic
- Evaluate the effectiveness of advertising and marketing initiatives,
particularly initiatives that involve use of new media. Be prepared
- Monitor what others say about your company on blogs, Twitter, Facebook,
and LinkedIn. Respond when someone makes a misstatement about your
With current market intelligence at your disposal, your will be better
able to navigate during stormy times.
Copyright © 2011 Ruth Winett. All rights reserved.
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