LED lighting companies need to be cautious in adopting price reduction strategies
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Today's LED lighting market competition can be described as exuberant, especially the price stifling, falling again and again, no minimum, only lower. Price is still the magic weapon for many companies to implement competition. In fact, most companies are forced to cut prices. Seeing that everyone is fighting price wars, they have to follow the fun. The main reasons for the price cuts are: the maturity of the consumer market is not high, consumers are more price than the brand; second, there is no real brand connotation. If the brand's connotation is lacking, it will be difficult to have brand value, and the product will not sell a good price; it can only be combined with pollution, and it will be sold on the price.
In a price-oriented market consumption and competitive environment, price cuts are a common practice for most companies, and they are used as a killer against competitors and the market. I have to admit that the price cuts can indeed increase product sales in the short term, but only a false one-time prosperity, behind the boom sales, more is the transfer of inventory. After the prosperity, it will leave a series of sequelae, which will easily hurt the brand and the market. In particular, those who cut the price at the expense of quality are equal to cutting blood and letting themselves set themselves.
The author believes that enterprises should be cautious in implementing price cuts. They should not be able to make heads on the spot, nor can they blindly follow the trend of following the so-called market competition. They must have strong brand power, product strength, technical strength and cost control. Can really play the role. Otherwise, don't cut prices easily. For example, Mulinsen, Foshan Lighting and other powerful brand companies dare to be crazy about the price of certain products, but because of their product strength, technical strength, cost control and brand power, they are strong. Their price cuts have little effect on the brand and product image, but they will give people a feeling of being cheap.
Therefore, before the price war, enterprises must measure their own brand power, product strength, technical strength and scale cost control and other factors to see if they can withstand such supplements. Otherwise, companies should not easily use price killers, so as not to fall into a vicious price war, and more efforts should be made in terms of brand connotation, product quality, technical support, and cost control.
Price cuts, especially vicious price wars, have harmed others, and have harmed themselves, and have hurt the industry! Please think twice before the price cut, carefully use the price killer.