I think it's the Chinese language that the word/symbol for "crisis" is the same for "opportunity." That said, it then becomes a matter of perspective how one would deal during such a circumstance.
Back to the question, during a time of crisis, most of us have no choice but to cope and survive. While I don't think expansion should be a priority, not without prudent and thorough consideration, I also don't think it's as simple as lowering prices--which in itself carries risk as well.
Innovation rather than expansion would be my move. It improve what is currently being done. This may entail cost-cutting measures or even an investment (i.e. automation) to keep the business as lean and as productive as possible.
Just a couple of thoughts before I finish: One is that we tend to think it's a crisis; we say life is hard. I once talked to an older neighbor of mine and his answer enlightened me, "It was hard during my time. It has never been easy." The second one is that things come to pass. This applies to crises as well. So, during a bad spell, we should have the foresight to plan our businesses for after the crisis. The world keep on turning.
