YM778.TV Chapter 1299 - Every company should have
Those who don’t want to make money will never go into business. Many developers and inventors have good results, but they did not use their results for business or investments. They handed their research to the higher-ups in exchange for promotion or fame. Of course, some used their results to get more funds to do more research.
These people are not doing all these for money. That’s why they cannot be businessmen. You might say Li Yanhong wants to develop the world’s best search engine, and he can just be a developer if he doesn’t want to make money. He is the one who owns and developed the search engine.
Of course, after making money, people will change. Many people will choose to help others or help the country.
But first, you must make more money than your competitors!
“Manager Feng, you want all of us to have our strategic products?” Aiwa Home Appliances person-in-charge asked.
“That’s right. But you all are different. You all are using the same Aiwa brand with Aiwa Electronics. You are sharing the technologies with Wind and Rain Electronics and Wind and Rain Home Appliances. That’s why you all can introduce the same strategic products. Everything will remain the same. Aiwa will target the domestic market, and Wind and Rain brand will target the overseas markets.”
Everyone in the meeting room started thinking. What are their company’s strategic products?
Quanjude’s Manager Jiang immediately knows what Quanjude’s strategic products are. It’s their roast ducks. Regardless of what type of cuisine they are selling, all of their branches will have Quanjude roast ducks. This is also their best-selling dish and is their core product.
Li Mingde thought about what Feng Yu said. Focus on developing a car model and not create multiple models for the same category. They should concentrate on Songjiang Olympic for normal saloon cars and Oriental Deer for SUVs. These two models should be the company’s main products, and other vehicle types are the secondary products. So, these two models should be their strategic products.
The most popular motorcycle model is Songjiang 100. This single product has sold more than other companies, and the production cost is the lowest.
Songjiang Motors should also develop a strategic product for their Electric scooters. Manager Feng had used their company as an example, and Li Mingde must not disgrace himself.
Bing City Pharmaceutical Group’s strategic product is Viagra. Viagra is selling well globally, and their glucose series of health supplement products are also very popular now. Their anti-inflammation medicine is also the no. 1 in the Chinese market.
Fu Guangwei is speechless. What is Tai Hua Supermarket Group’s strategic product? Membership card? Fresh groceries or something else? He decides to speak with Feng Yu later.
Jianlibao’s strategic product is Jianlibao, and Lehaha’s strategic product is their green tea, nutrition express, Qili, and Refreshing Cola. Although their other products are selling well, they are nowhere near the mentioned products.
As everyone is thinking, Feng Yu finished what he wanted to say. All these are the summary of the talks and experiences from his previous life.
Toyota and Honda made high profits globally from their strategic products. Their market shares kept increasing.
In Feng Yu’s previous life, many people started to study Toyota’s strategy, management, product development, sales, etc., after becoming the market leader in the automobile industry.
They discover Toyota’s single product strategy. Of course, they also discovered the boiling frog strategy. General Motors lost to Toyota because of these strategies.
After the meeting ended, they remained in the meeting room to discuss how to reach the goal set by Manager Feng.
Making money might seem simple, but making lots of money consistently is not easy.
First, you must make your consumers like your product, and your product must be better than the competitors. After that, you must ensure your technology is ahead of others and your reputation. The product’s positioning must also be clear and structured.
It might sound easy, but it’s extremely hard to implement.
The most difficult part is when your company is leading the market, you must also ensure your competitors can survive. Once a monopoly is formed, the company will be forced to break up.
Regardless of Feng Yu’s previous life, or this life, no company can have the absolute monopoly of a market. When a company is about to monopolize the whole market, it will face many issues.
For example, Microsoft. Their PC operating system has almost monopolized the market, and they face numerous lawsuits.
Feng Yu wants his companies to own the biggest market share and maintain their lead. That way, they can get the biggest share of the pie.
Currently, only a few Feng Yu’s companies are the best in their respective industry globally. For example, Amazon is the biggest eCommerce website, but its profits are pathetic.
Although Amazon is the market leader, it is not much stronger than eBay. They don’t have an absolute advantage, and their profits are lesser than eBay.
Paypal and Alipay are the no.1 and no.2 in the industry for third-party payment platforms. But their profits are not high.
For these industries, the companies, which are not at the top, made more profits than the market leader.
But this is not an issue, as the time for these companies is not ripe yet. In a few years, Amazon, Alipay, Paypal, etc., profits will shoot up.
Just look at the Sixth Sense and Aiwa. After becoming the market leaders, they become more advantages than their competitors.
“Brother Feng, you mentioned every company should have strategic products. What is our Tai Hua Supermarket Group’s strategic product?”
“Just think about which product has the highest sales, highest profit, and lowest cost.” Feng Yu patted Fu Guangwei’s shoulder with a ‘you should understand’ look.
Fu Guangwei is still confused and decided to ask his father or other top executives. Could it be Tian Peng Pigs?
Feng Yu also doesn’t know what a supermarket’s strategic product is. Every variety will have one product that attracts consumers.
For example, Tian Peng Pigs, Beidacang Rice, etc. A strategic product is not limited to one product. Even Toyota has other models aside from Corolla. They also have Camry and other models as their strategic products.
As everyone is searching for their strategic product, Feng Yu sneaks away secretly.
Feng Yu needs to rush home as it is approaching Li Na’s due date.