Lu Feng couldn't listen anymore. He had just recounted a bunch of his own imagined experiences, such as sleeping in cowsheds, begging for food, and gradually accumulating wealth to finally achieve success.
"These newspapers are really going all out to sell," Lu Feng said with a wry smile.
I've finished all the things I needed to do earlier, so I don't have much to do today. After dinner, I'll read the newspaper and call Jiang Xiaoyan for a chat.
At 10:00 AM, the rush to buy began. The crowd first went to the various counters of Jinbao, and then, upon hearing that there were cheaper prices nearby, they began to compare them.
Previously, the shortage of goods gave customers the feeling that they had no time to think, as they would be bought by someone else if they hesitated. Now that all the counters have sufficient stock, they are no longer in a hurry.
This is a bad start; there are more goods than people, and by a significant margin.
At 11 a.m., all the major companies received a message that Jiafeng Electronics' new factory production would be reduced by two-thirds. Li Quanliang was in a good mood when he heard this news.
Lu Feng was clearly aware of the impending risk and tried to apply the brakes, but it was too late.
With an investment of 50 million yuan, plus the investment in the new factory, the cost is too high. If VCD sales plummet, it will completely drag Jiafeng Electronics down.
When General Manager Zheng heard the news, he was extremely excited. Success was within reach. No matter how things developed, he would succeed. The other factories, on the other hand, were terrified of Jiafeng Electronics.
If Jinbao takes a step back, they can take a step forward. This is a good start!
Around noon, Lu Feng skipped lunch and went straight to the legal department. Previously, the legal department only had a dozen or so people, mainly responsible for contract drafting, legal risks, and the like.
Last time, Lu Feng said he wanted to expand the legal team. Now that the budget was in place, there were already more than seventy lawyers sitting in the office. Lu Feng walked in and gestured to everyone to sit down.
Most of these lawyers were hired on short notice, and Lu Feng could only pray that a lawyer like 'Zhang Wei' wouldn't appear among them.
"During this period, everyone had only one task: to search the market for various pirated and infringing VCDs, find the factory locations, and then file lawsuits to demand compensation. As long as there was no jurisdiction, we would file lawsuits in the local courts."
"I only have one request: sue them until they go bankrupt. Don't go easy on them. If they can't go bankrupt, ask the local Administration for Industry and Commerce to fine them and shut them down for infringement." Lu Feng looked at them and said in a deep voice, "I know many of you are from law firms. As for the compensation, I don't care that much. We'll split it 30/70. You get 30%. If you sue them and they pay you a million, I'll give you 300,000."
The audience erupted in applause, everyone was excited. This was a big deal! Pirated VCDs were rampant in the market, and any manufacturer had assets worth millions.
Around 1 p.m., Jinbao VCD's sales were less than half of yesterday's. Competition in the electronics mall had become unprecedentedly fierce. The merchants sensed something was wrong, kicked their employees out, and demanded that people be brought in.
Some merchants had too much inventory and needed to get paid quickly. Seeing that things weren't going well, they immediately lowered prices, creating the first wave of vicious competition in a small market within an electronics mall, and the market began to collapse.
"VCD! VCD, only 3450! Don't miss out today, you'll regret it for a year!"
"Buying VCDs? Come on, I have some, cheap, on sale today..."
Not only in the electronics store, but also the young man from last night assembled twenty-five VCD players this morning. He doesn't have a store; he just sets up a stall next to the electronics store.
After setting up the items, I thought they would sell like hotcakes at 3,400 yuan, but no one even glanced at them when they passed by.
In the past few days, the demand was concentrated, with those in need rushing to the Jinbao counter, making it difficult to find a single unit. Today, everyone has brought out their stock, and there are many different sales channels, causing the demand to be diverted.
As Lu Feng said, the current VCD market accounts for less than five percent of the videotape market, and it will take time to expand the market.
A young man's first entrepreneurial venture involved standing at the entrance of an electronics store for two hours selling products. He was completely exasperated and grabbed someone, asking, "Hey bro, wanna take a look at VCDs? These are all factory direct, cheap, 3,400 yuan apiece, Jinbao brand."
“The one there is fifty yuan more expensive than yours. If it doesn’t work well when I get back, who am I supposed to complain to?” The man turned and prepared to leave.
"If you buy honestly, I can give you a discount of 100, making it 3,300. How about we become friends?" the young man said urgently.
One trading principle he doesn't understand is that when the price floor is easily breached, it means there is no floor left!
The older brother left, and the young man looked around at the shops. The shop assistants were standing on the street, pulling people away. Overnight, the market had changed from a seller's market to a buyer's market.
The pirate army has arrived!
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