According to the Wall Street Journal, Proctor & Gamble, one of the worlds largest consumer packaged goods companies, has adjusted their sales philosophy due to the recession.  Although they still sell and market their premium products like Tide and Pampers, the company is working to reach more price-driven consumers by promoting cheaper products such as Luvs Diapers and Gain Detergent.  These products are outpacing the premium brands in the downturned economy.  P&G is responding to what is termed “an era of thrift”.

Think about how P&G’s sales and marketing strategy relates to your business.  P&G knows that due to the recession consumers are more inclined to buy a cheaper product especially if the product is perceived as a quality product.  The customer sees value in the product.

P&G has long been recognized as one of the best run, most marketing savvy companies. The company isn’t sitting idly on the sidelines of the economy waiting for business to return to pre-recession sales.  Instead, they respond to how the economy is affecting the consumer, their customer, in order to keep the customer and not lose them to the competition.  They are being proactive, not reactive to the marketplace.

Although you may not be a multi-billion dollar company you can do the same.  Most CEOs, presidents and owners of companies spend their days doing tasks and not being creative, inventive or looking into the future to reshape their business in the face of the longest recession since the Great Depression.

I know you are busy.  But take 30 minutes to an hour every single day and work on further developing the strengths of your business.  Think about how you can use those strengths to do more business; to be more profitable yet still respond to the needs of your customer in new and better ways.

Creative thinking is what will make the difference in your profit-and-loss statements over the next couple of years.  Take a fresh approach to your business, your products and your operations.  P&G is doing it and so can you.