Some companies are actively searching for the silver lining in depressing economic news and turning American consumer’s frustrations and doubts into an effective marketing campaign. Can other industries take a page from Chrysler’s game book and brew sweet lemonade from sour lemons?

Beginning today and lasting until June 2nd, Chrysler is promoting their newest incentive — Let’s Refuel America, a rather experimental strategy to get you to purchase one of their new automobiles, SUVs, crossovers or trucks.

Under this plan, Chrysler guarantees the price you’ll pay for a gallon of gas at $2.99. Anything above that, they pay for it (within limits and terms, of course). The price guarantee covers an annual allotment of gallons based on 12,000 miles divided by the average mileage per gallon of the vehicle purchased. Thus, as the price of gas increases, so do your savings.

According to Jesse Toprak, executive director of industry analysis for Edmunds.com, “[any topic] that has gas in it gets attention nowadays from consumers, so it’s a smart strategy.”  Chrysler executives were quoted last week as saying that the nation needs high gas prices to encourage consumers to buy more fuel-efficient vehicles, and Jim Press, Chrysler’s president and vice chairman stated that the program “puts money in your pocket today, and allows our customers to better manage their fuel expenses.”

Some might say that Chrysler is making lemonade from lemons by taking advantage of consumer’s growing aggravation with now skyrocketing gas prices. That oil prices at the wellhead are increasing at an even higher rate than pump prices can only bode ill for the future — should a barrel of oil be priced at $200 within the next two years as some analysts say, that $2.99 per gallon price lock will look very attractive.

So how can other industries take advantage of bad news and work it to their advantage? Chrysler did it by acknowledging that gas prices are rapidly increasing and that there’s nothing anyone can do about it. There tact in subsidizing this cost is a great market ploy and they’ve smartly put some controls in to limit their exposure (in fact, some analysts are saying the cost for this incentive could be lower than their typical rebates and interest rate buy-downs).

The challenge is to find a way to make a new, better tasting lemonade from the lemons the current economic state is giving us. Smart marketers need to embrace bad news and look for that silver lining — who would have thought an automobile manufacturer would use the bad news of increasing gas prices as a positive marketing message?

There was a great story over at NPR this week about consumers who work in major cities flocking back to urban areas to take advantage of shorter commutes (and, thus, less gas consumption — something becoming more and more of a factor), closer amenities such as shopping and cultural attractions and more time-efficient living (imagine — no more mowing that acre of grass every week!).

Urban homebuilders must be delighted to see their average home’s selling price staying stable, if not rising (the NPR story mentioned median home prices in the city actually increasing 3.5% compared to a year ago). It would seem the allure of home “bigger and better” on the outskirts of metropolitan areas have lost their charm in the face of $120/barrel oil and $4 a gallon gas.

The lesson for urban homebuilders (and even those who have developments in very centric, amenity-rich areas that also have the added bonus of an efficient and easy-to-use public transportation system) is to really educate consumers as to the true advantages of thinking smaller when they consider an urban home.

Wise marketers may still have to play part of the incentive or promotion game that plagues the industry now, but a smarter strategy is to stress the intangible advantages of the location of their development. Instead of gas cards to encourage sales center visits, reward potential buyers with gift certificates to local restaurants, coffee bars and cultural attractions — anything to keep them in the area and get them to see the benefits of “staying local.”