Our surrounding circumstances definitely affect our decisions and therefore our actions. Consumer buying habits are no exception.  With the economy going through some tough times, many people have transitioned from a mindset of spending freely on a whim to one of careful frugality.

For the small business owner, this change in the consumer mindset has a direct impact on your marketing and business strategies.  It is now more important than ever to pay close attention to your customer’s needs.  Many of the issues that your customers are going to face in this recession are the same: reduced income, increased unemployment, increased expenses, more debt and solutions that don’t meet their immediate needs.

Keeping in mind that consumer demand is comprised of income level, personal preference, and purchase price, let’s take a look at what a small business owner can do for continued business growth and profits.

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If a friend complained of a headache you might offer them an aspirin and if they complained about being hungry you might offer them food. Whatever the complaint in most instances when you offer relief for pain, people will take advantage of the offer. And the more effective the pain relief, the more praise and gratitude you receive.

So why wouldn’t you take this same concept of providing solutions to other people’s problems as a way to grow your business?

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