Jenny Darroch Discusses her new book, "Marketing Through Turbulent Times"

Marketing during a recession is even more important during economic downturns. That's the main lesson to be learned in Drucker Professor Jenny Darroch's new book, Marketing Through Turbulent Times, which will be released in November of 2009.
In the book, Darroch spells out ways marketers need to think differently when money is tight. They need to think of their customers in a new light, she says. Customer service needs a new focus.
Darroch's research of previous downturns noted that those companies who made marketing increases during recessions, on average, resulted in a larger return on assets and a larger market value five years later.
This means cutting marketing budgets during a recession means jeopardizing the long-term value of the firm, Darroch said.
Return on investment needs a new focus:
A lot of managers get spooked and lose track of Marketing 101, Darroch notes. In trying times, companies need good leaders/managers who are in control, not people who think short term. Its not just about sales, its branding and awareness, just like always.
Examples of successes: Hyundai's Assurance Plan, which offers 90 days of payment relief in case of a job loss and Dennys free breakfast promotion. Both empathized with customers, who have been hit hard during this current recession.
Marketing managers need to say, We understand your pain. We know what you are going through. Were on your side. Darroch said.

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