Economy crisis can cause evolution or revolution of consumer behavior. This condition should be anticipated soonly especially for small business players. There are some conditions in global economy issue and common business situation that influence consumers before purchasing the products.

Those urgent conditions are:
1. The increasing of material prices: fuel, this will cause other material prices increasing.
2. The coming of new competitors
3. Information velocity by TV, newspaper, magazine and internet media which can create image of the product and can change mindset of consumers slowly or fastly.
4. Government regulation.

Many small business players often failed because of ignoring those situations. During the business in high market demand, small business players should allocate their time, some money and energy for anticipating condition mentioned in above.

How to allocate our time, money and energy?
As many teachers in business class taught: plan strategy and tactic!

Although the purchasing power of consumers today is decreasing, but consumers are often easily tempted by media. They are often unrealistic when they face to face with the advertising on media.

Advertising takes important role in persuading consumers. And communication with consumers is one of ultimate strategies to win the market, doing market research by interviewing prospects or other methods to communicate with the market prospects before creating the product and launching an advertising to public.
Although global economy condition is in downturn, there must be a chance to make profit in business.

Technorati Tags: how to face economy crisis, global economy issue, strategy to win the market, how to make profit in business, surviving in economic crisis

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This entry was posted on Friday, October 10th, 2008 at 2:54 am and is filed under Business, Investment, Management, Marketing, Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.