Those present seemed thoughtful. This approach was not bad; focusing only on first- and second-tier cities would make terminal sales particularly easy, greatly reducing shipping costs and such.
Many people nodded in agreement, praising him for his insightful and unique perspective, befitting someone who had studied abroad.
Lu Feng finally understood why he had never heard of this television company. With its current business model, how many televisions could it sell in a year? At this point, Chinese people weren't that obsessed with luxury goods.
Lu Feng picked up the microphone and pondered for a moment before saying, "I'm the exact opposite of him. I'm targeting cities below the third tier, with products aimed at newlywed young people in rural towns. The TVs need to be large, 35 inches, and ideally, a double happiness symbol should appear as soon as you turn them on. The price should be between 2,000 and 3,000 yuan. We don't need high-tech features, but we need high and stable quality. The picture quality can be a little blurry, but it must be big!"
"Why make it so big? What's important is the technological sophistication, clear image quality, and that it doesn't hurt your eyes." Jiao Enfan chuckled dismissively and said, "You don't understand electronics at all!"
"It not only has to be big, but also heavy. When I produce televisions, I always put five kilograms of pig iron inside. You say I don't understand electronic products? I'd say you don't understand the Chinese people."
"Five pounds of iron?" Jiao Enfan found his words hilarious.
"That's right, you studied finance and international relations, do you understand electronics?"
"People buy TVs, which have more channels and clearer picture quality. Why are you doing all this fancy stuff? I can already tell you're doomed to fail. This unprofessional, amateurish approach has really opened my eyes, or rather, you're just talking nonsense."
Lu Feng looked at him and smiled. He really was a high-and-mighty young master, probably not even knowing the difference between grains. He asked, "President Jiao, you have so much data. I'd like to ask, what is the number of television sets in our country? What is the per capita number?"
"The total number of TVs is 37.65 million, which is roughly one TV for every thirty-odd people. It is said that in many rural areas, only the village committee has one TV. In rural areas, there should be one TV for every few hundred or even a thousand people." After saying this, Jiao Enfan thought for a moment to make sure that his data was correct.
"It seems that Mr. Jiao also knows about the situation in the village. Have you ever been to the county town? You mean one of those counties with a population of around 100,000? Do you know how people there buy televisions?" Lu Feng asked again.
"Why would I go there? I fly to first-tier cities in China and international first-tier cities."
"It seems Mr. Jiao doesn't know that when buying a TV in the county town, you have to pick it up and see which one is heavier. If you were getting married, would you be willing to buy a big one for the same amount of money? When the villagers come to your house and see a big color TV, they don't care about the resolution or the number of TV channels. What's the point of having so many?" Lu Feng said slowly and deliberately. "As for those targets you mentioned, that's nonsense. How many do you think you can sell in a month?"
"I make the same profit from selling one of your products as you do from selling a hundred. What do you think? You don't understand what high-end products are."
It's difficult for high-end products to replace smuggled goods. Everyone present thought it was a good idea and worth a try, but whether it would succeed was uncertain. However, Lu Feng was very down-to-earth and had a very high success rate. When some people heard his idea, they felt a chill in their hearts, thinking that there would definitely be a crazy price war in the rural market.
“Since you think your path is easy, let’s make a bet. It’ll be a year, and whoever has the highest turnover wins!” Jiao Enfan said somewhat defiantly.
Lu Feng raised an eyebrow and scoffed, "Are you sure? How much are you betting?"
Chang Wanteng hurriedly slapped Jiao Enfan on the shoulder. Comparing revenue with a company that takes a low-price strategy is just brainless. The competition in the low-end market is fierce. In the first year of establishment, they will definitely engage in a crazy price war. How could their revenue be low?
Jiao Enfan was patted on the shoulder by his grandfather and sat there without saying a word.
"Such a big boss, you don't keep your word?" Lu Feng deliberately provoked him.
"Cough cough!" Jiao Enfan coughed twice while leaning back in his chair.
"What are you coughing for? Everyone here heard what you said. Don't you have any shame? Do you think your words are just empty talk?" Lu Feng pressed on.
"You!!" Jiao Enfan's face turned pale and then red, and he gritted his teeth and said, "You have the face of a commoner. You can only do some low-class business. You will never be able to connect with the international community. You are like a frog in a well, sitting in a well and looking at the sky. You are arrogant and ignorant."
Lu Feng looked at the group of people, many of whom had unpleasant expressions, because every company made low-end products, and the real volume of sales came from those rural towns.
"I'm just a country bumpkin, but if Mr. Jiao wants to talk about something more high-level, I'm willing to listen."
"Listen? Can you even understand it? Do you know Wall Street? Do you understand international finance? All you've got is the idea of stuffing iron into a TV set," Jiao Enfan said dismissively.
"Are you sure you want to talk to me about Wall Street finance?" Lu Feng's face revealed a playful smile. This topic was destined to be a fatal blow for Jiao Enfan!
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