The signs of turbulence are all over, and they are not going away anytime soon.
In fact, marketers need to develop a new mindset of always being on hot standby to activate automatic response marketing programs when the turbulence whips up and chaos reigns in.

Take a look at Philip Kotler’s eight factors that marketers need to keep in mind as they create their Chaotics marketing strategies.

1. Secure your market share from core customer segments: This is no time to get too greedy so be sure your first priority is to get your core customer segments firmly secured, and be prepared to ward off attacks from competitors attempting to take away your most profitable and loyal customers.

2. Push aggressively for greater market share from competitors matching up to your core customer segments: All companies fight for market share and, in turbulent and chaotic times, many have been weakened. Slashing marketing budgets and sales travel expenses is a sure sign that a competitor is buckling under pressure. Push aggressively to add to your core customer segments at the expense of your weakened competitors.

3. Research the customer more now because their needs and wants are in flux:
Everyone is under pressure during times of turbulence and chaos. Depending on the severity of the levels, all customers—even those in your core segments—whom you know so well, are changing. Stay close to them. Research them more now than ever before. You don’t want to find yourself relying on old, “tried-and-true” marketing messages that no longer resonate.

4. Seek to increase—or at least maintain—your marketing budget: With the market being buffeted by turbulence and your customers getting whipsawed by it—and aggressively marketed to by your competitors, this is the worst time to even think about cutting anything in your marketing budget that targets your core customer segments. In fact, you need to add to it, or take money away from those forays you were planning to go after totally new customer segments. It’s time to secure the home front.

5. Focus on all that’s safe and emphasize core values: When turbulence is scaring everyone in the market, there is a massive flight to safety by most consumers. This is the time when they need to feel the safety and security of your company and your products and services. Do everything possible to communicate that continuing to do business with you is safe. Sell them products and services that continue to make them feel safe; and spend whatever it takes to do it.

6. Quickly drop programs that aren’t working for you: Your marketing budgets will always be scrutinized, in good times as well as bad times. Cut out any ineffective program of yours before anyone else calls attention to it. If you’re not watching them, rest assured that someone else is, including all your peers whose budgets couldn’t be protected from the axe.

7. Don’t discount your best brands: Everyone tells you not to discount your established and most successful brands for good reason. When you discount them you instantly tell the market two things: your prices were too high before you discounted them, and; that they won’t be worth the price in the future once the discounts are gone. If you want to appeal to more frugal customer needs and wants, then create a new, separate and distinct product or service offering under a new brand with lower prices. This gives value conscious customers the ability to stay close to you, while not alienating those who still are willing to pay for your higher-priced brands. Once the turbulence subsides and you see some calm skies ahead of you, you may consider discontinuing your newly introduced branded value product line—or not. Remember, it’s better for you to cannibalize your products than for your competitors to do so; at least you have the ability to up-sell them if they’re still your customers.

8. Save the strong; lose the weak: In turbulent markets, you need to make your strongest brands and products even stronger. There’s no time or money to be wasted on marginal brands or overly fragile products that are not supported by strong value propositions and a solid customer base. Tie in the need to appeal to safety and value to reinforce already strong brands and strong and service product offerings. Remember, your brands can never be strong enough, especially against the strong waves of a turbulent economy.

Philip Kotler is featured in the HSM Business Insights 2010 Marketing & Sales DVD program. For details on this DVD featuring Philip Kotler visit this link.