The exorbitant price of 30,000 yuan for the Pioneer Edition has caused a great stir in the media. Some claim that this is a technological monopoly and that Jiafeng Electronics should be investigated. Others say that absolute market dominance breeds absolute arrogance and that this phenomenon must be broken.
Criticisms of Jiafeng Electronics sprang up like mushrooms after rain. Lu Feng read the newspapers every day, and he could tell at a glance who was behind these newspapers.
The battle for public opinion has begun, and many industry elites have sensed something different.
Inside the Suzhou factory, Lu Feng sat in the conference room, and everyone present had smiles on their faces. In less than a month, VCD had brought Jiafeng Electronics a very impressive effect, which could be described as a revival.
Feng Zhiyao sat next to Lu Feng, acting as his assistant. He had been talking to his father a lot these past few days, and based on the current development, investing in Jiafeng Electronics was indeed a very promising endeavor.
"Everyone, please put away your smiles." Lu Feng looked at everyone and said, "We did get off to a great start, with the highest single-day sales exceeding 30,000. But I have to pour some cold water on that: this market is still very small, less than five percent compared to the videotape market."
Feng Zhiyao, sitting to the side, felt something was amiss when he heard this. Jinbao VCD already held a dominant position in the market and had a very high level of market acceptance.
“Brother Feng, I think this market needs time to expand. Jinbao VCD has already established a foothold in terms of sales, and even if someone comes in later, it will be difficult to shake their position,” Feng Zhiyao said, offering his opinion.
Everyone present nodded in agreement, and even Zhu Lidong felt the same way. Although major manufacturers were making small moves, and he had recently heard that several companies were about to launch production under the guise of newly established companies, he still believed that Jinbao would dominate the market.
"Since everyone thinks they've established a foothold, why not wait a few more days and see?" Lu Feng just smiled at their confidence, knowing the market would give them a harsh lesson.
"Let's talk about the immediate issues. First of all, the legal department needs to get moving. In the coming days, we'll be facing endless lawsuits. We need to study more about intellectual property. If we can't keep up, we'll hire a legal team from outside. The first wave of piracy is coming soon."
"Strengthen market promotion and make the idea that only Jinbao is the genuine product deeply rooted in people's minds. Recently, we have also asked the brand image department to pay attention and control any comments that are not conducive to us. At the same time, we need to learn to guide fans in terms of entertainment stars and incorporate the product into their products, but we should not have a budget for this aspect."
Lu Feng could tell that everyone present was very excited. The sales figures were incredible, with a single-day turnover of over 100 million yuan, enough to overwhelm any private enterprise in China.
Lu Feng, however, saw a deeper sense of crisis. Such achievements would accelerate the entry of people who were not originally planning to enter this industry into investing, because everyone saw this as a promising opportunity.
Over the years, Lu Feng has come to understand one thing: when everyone thinks they can make money, that's when the industry starts to lose the most money.
He was thinking a while ago that if sales data wasn't released to the public, this situation would gradually occur and might last for three to five years.
Over the next three to five years, there will be constant disruptions from outsiders, which will be a very long and arduous process for Jiafeng Electronics. The market cannot withstand such turmoil, so he decided that it is better to end the pain quickly than to suffer a long one. He released the sales data to stimulate the market.
Even figures like Li Quanliang and General Manager Zheng were moved to tears, let alone ordinary people.
Inside a private room at a restaurant, a young man in his late twenties sat, his face flushed from drinking. Next to him, at the head of the table, sat a middle-aged man who was currently a mid-level manager at Konka.
"Mr. Zhao, let me tell you, this VCD player is absolutely a money-maker. It's selling like hotcakes; people aren't buying it anymore, they're grabbing it." The young man gestured with his hands and said, "Have you met Mr. Lu?"
Mr. Zhao coughed slightly in a pretentious manner and said, "I've met you before. We often have meals together. Last time, at a dinner party in Shenzhen, you even toasted me."
"Really? You're amazing. Let me tell you, this person's story is so inspiring. He's my idol. If you follow in his footsteps, you're bound to do well."
The young man hiccuped and said, "Back then, he ran a cannery, mainly targeting the local market. Now I make VCDs, assemble them, and sell them locally. I'll definitely make money. My idol's thinking is very clear: televisions, VCDs, and radios—these encompass most of the entertainment appliances in most households."
"Okay, do a good job, I believe in you!"
"Could you give me a discount on this motherboard?" the young man asked hesitantly. "I don't have much money on hand right now. Could you supply me with more motherboards?"
"The motherboards are in short supply. I'm just quietly making a little money and don't dare to do too much to the warehouse. I only make about a hundred units a month," Mr. Zhao said firmly.
The young man was not discouraged. He raised his glass to toast Mr. Zhao and told himself that business must be done step by step. One day he would make his business bigger and stronger with his hard work and wisdom!
The Smith team naturally paid close attention to the booming sales of VCDs in China. Some foreign media outlets also gave Lu Feng a prominent report, marking Lu Feng's first appearance in international media.
Jiao Enfan was also taken aback when he looked at the newspaper. He had heard a lot about Lu Feng's name on Wall Street recently. The Smith team went to invest and lost everything.
“There is huge market potential here!” Jiao Enfan muttered to himself as he looked at the newspaper.
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