In the unpredictable world of business, competition is fierce beyond imagination. The family business, led by a son, has forged ahead in the fields of technology and finance through decisive decision-making and tireless efforts, gradually emerging as a formidable emerging force within the industry. However, as the saying goes, "a tall tree attracts the wind," the family business's thriving business has alerted competitors. Not to be outdone, they quickly adjusted their strategies and launched a series of highly targeted suppression measures in an attempt to curb the family business's progress.
Competitors' first tactic was product homogeneity. They invested vast amounts of manpower, material, and financial resources in research and development, working tirelessly to launch a series of competing products that bore a striking resemblance to the family business's flagship products. From design to functionality, these competing products were identical to the family business's offerings, making them virtually indistinguishable at first glance. Furthermore, they engaged in a price war, attempting to seize market share through undercutting. Across all major sales channels, competitors' products were aggressively marketed at prices several times lower than those of the family business's offerings. For a time, market prices were in turmoil, and consumers, swayed by the sudden lure of low prices, began to waver. The family business's previously stable customer base began to falter, with some cost-conscious customers flocking to competitors, significantly impacting product sales.
Meanwhile, competitors were also engaged in the public opinion war. Well-aware of the destructive power of rumors, they began spreading a variety of detrimental rumors within the industry. Some claimed that the family-owned company's products were of substandard quality and posed serious safety risks, even fabricating so-called "user complaints" with great fanfare. Others denigrated the family-owned company's reputation, claiming it frequently breached contracts and was irresponsible to its partners. Even worse, rumors spread that the family-owned company's technological innovations were plagiarized and lacked independent R&D capabilities. These rumors spread like a virus, permeating the industry through various channels, including social media, industry forums, and business exchange groups. They sowed deep misunderstandings among those unaware of the truth about the family-owned company, putting its reputation at an unprecedented risk.
Faced with such a fierce and reckless attack from his competitors, the son remained unfazed. He knew that at this critical moment, calmness and wisdom were the key to managing the crisis. He quickly assembled a professional market research team comprised of experienced elites with keen insight into market dynamics. Upon receiving the assignment, the team immediately delved into the market and conducted a comprehensive and meticulous investigation.
They split into several groups. Disguised as ordinary consumers, they visited various retail outlets, engaging in face-to-face conversations with sales staff and customers to gain detailed insights into competitors' product sales, customer feedback, and the specifics of their pricing strategies. Through this close observation, the team members discovered that while competitors enjoyed a price advantage, their products often exhibited significant flaws in certain details, such as poor durability and inadequate after-sales service. Many customers encountered various problems shortly after purchase, with no timely or effective resolution.
The research team also utilized various professional tools and channels to monitor and analyze online public opinion about competitors. They traced the rumors' origins and discovered that most of them originated from a few accounts closely associated with competitors, spreading rapidly through the massive reposting of these rumors by a network of "trolls." The team also gathered insights from leading industry experts, experienced practitioners, and consumers regarding these rumors. They found that while some were misled by the rumors, many rational voices expressed recognition of the strength and reputation of the family business. However, these positive voices seemed somewhat muted amidst the clamor of rumors.
After gaining access to detailed firsthand information, the son began to formulate a counterattack strategy. He knew that to completely reverse the situation, he had to take a two-pronged approach: launching a strong counterattack at the product and market levels, and reshaping the company's image through public opinion.
On the product front, his son decisively decided to increase R&D investment. He personally convened an emergency meeting with key R&D personnel, emphasized the severity of the current situation, and galvanized everyone's resolve. The R&D team sprang into action, embarking on a race against time for innovation. They thoroughly analyzed changing market demand trends, combined consumer feedback on their products with the weaknesses of competitors' offerings, and determined a new R&D direction.
After working tirelessly day and night, the R&D team successfully launched a new generation of upgraded products. This product represents a quantum leap in performance compared to its predecessor, not only resolving durability issues common with competing products but also incorporating several unique and innovative features to better meet the increasingly diverse needs of consumers. For example, in response to consumers' pursuit of intelligent living, the product incorporates an advanced AI interaction system, allowing users to easily control the product through voice commands, delivering a more convenient and efficient user experience.
In terms of pricing strategy, the son didn't blindly fall into the trap of low-price competition. He knew that simply competing on low prices would only plunge the entire industry into a vicious cycle and harm the company's long-term interests. Therefore, he led his team to optimize production processes, introduce advanced production technologies and management models, and implement refined cost control across every link, from raw material procurement and manufacturing to logistics and distribution. Through a series of optimization measures, the company successfully reduced production costs, making its products more competitively priced while maintaining high quality. Compared with competitors' low-priced products, the family business's new products, while slightly more expensive, offer superior quality and a wide range of features, offering a clear value-for-money advantage that consumers feel is excellent value for money.
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