The subprime mortgage crisis has weakened consumer confidence and the credit-fueled spending that had been buoying the U.S. economy. Equally disturbing, the proposed $700 billion bailout might spur increases in federal and state taxes. Consumers will be poorer-or will feel poorer. They'll be more cautious in their spending.

What's a marketer to do? Reassure consumers by communicating the message, "We're going to get through this together." Recognize that people retreat to their "village" when hard times loom. So, when crafting your marketing plans for the coming years, focus on family values. Finally, reforecast demand for each item in your product lines, because consumers are trading down to offerings that stress good value (such as cars with fewer options).