How to maintain profitable marketing during uncertain environmental conditions.

Product lifecycles are becoming shorter and fads are becoming more evident. This is predominantly due to rapid advances in technology and change in consumer taste. Thus understanding environmental uncertainty and how to cope and excel during these times is an increasingly important aspect the marketing department must face.

During times of uncertainty, a variety of threats and opportunities can disrupt an industries stability. Shifts in customer needs or preferences, product substitutes, increased raw material costs, changes in government regulations, or factors such as the entry of low-cost foreign producers or mergers and acquisitions can threaten individual competitors and even throw the entire industry into hot water and even early decline.

The marketing department can’t simply sit and wait until the crisis blows over. On average slumps in economic activity have lasted for 11 months since 1925. This is an extensive period. Marketing must continue through the bad times. If e...