Lin Wei Reborn from the Ashes: Punishing the Unfaithful
Chapter 96 Industry Competition
With Lin Wei's unremitting efforts, the company's team has continued to grow and its strength has continued to increase. They bravely move forward in the tide of the market, meeting challenges and opportunities one after another. However, Lin Wei did not expect that a fierce industry competition was quietly approaching.
That day, Lin Wei was reviewing the latest market report in her office when her assistant hurried in, looking a little nervous.
"Mr. Lin, we have found a new competitor. Although it is a small company, they have been very active recently and seem to be eyeing our market share." said the assistant.
Lin Wei raised her head, her eyes firm: "Tell me in detail."
The assistant opened the folder in his hand and began to report: "This company is called 'Xinrui Technology'. It was established not long ago, but it has developed very quickly. They launched a product similar to ours, but the price is much lower than ours, and it has attracted the attention of some customers."
Lin Wei frowned, thought for a moment and said, "Organize market research immediately to understand the advantages and disadvantages of their products, as well as customer feedback."
In the following days, Lin Wei's team quickly conducted research. The results showed that although the other party's products were inferior to their own in terms of function, they had obvious price advantages and did an excellent job in marketing, being good at using social media and online channels for large-scale promotion.
Lin Wei convened a meeting of the company's core members to discuss response strategies.
"Everyone, please tell us what you think. How should we deal with this competitor?" Lin Wei asked.
The marketing manager spoke first: "I suggest that we also lower our prices and engage in a price war with them to maintain our market share."
The R&D manager shook his head and said, "This will reduce our profits and will be detrimental to the company's long-term development. I think we should increase our R&D investment, improve product performance and quality, and widen the gap with them."
The sales manager went on to say, “We can strengthen our after-sales service, improve customer satisfaction, and make customers more willing to choose our products.”
Everyone expressed their opinions and the discussion was very lively. Lin Wei listened carefully and gradually formed an idea in her mind.
"Everyone's opinions are very valuable." Lin Wei said, "We can't just engage in a price war, which will damage our brand image. We must optimize costs and adjust prices appropriately while maintaining product quality and service levels. At the same time, we must strengthen research and development and launch more innovative products. In addition, we must increase marketing efforts to highlight our brand advantages and product features."
Lin Wei's company took quick action. The R&D department worked day and night to upgrade and improve the product; the marketing department developed a new promotion plan, increased advertising and online and offline promotional activities; and the sales team actively communicated with customers to understand their needs and opinions.
However, competitors were not to be outdone. They continuously launched new promotional activities, even investing heavily in advertising bombardment, and maliciously spread some negative news about Lin Wei's company's products.
When Lin Wei learned about this, she was furious: "Their unfair competition tactics will not succeed. We must speak with facts, respond to these rumors publicly, and show our customers the advantages of our products and the strength of our company."
So, Lin Wei personally recorded a video, detailing the company's products and production processes, clarifying those negative rumors, and promising to provide customers with better products and services. This video was widely circulated on the Internet, winning the support and trust of some customers, but many customers are still waiting and watching.
As the pressure from competition continued to grow, some important clients of Lin Wei's company began to waver and consider cooperating with competitors. Lin Wei decided to visit these clients in person.
In the office of a major client, Lin Wei had a difficult negotiation with the other party's person in charge.
"Mr. Lin, your prices really don't have an advantage," said the customer.
Lin Wei responded with a smile: "Price is not the only consideration. Our product quality and after-sales service are guaranteed, and we are constantly innovating to provide you with more value."
Although Lin Wei tried her best, she was ultimately unable to completely convince the customer and only managed to obtain a result of temporarily retaining the cooperation but reducing the order quantity.
Lin Wei was not discouraged. She returned to the company and encouraged her employees: "Don't be defeated by the difficulties in front of you. As long as we unite as one, we will definitely be able to defeat our opponents."
At the same time, competitors launched a new product with certain improvements in functionality, trying to further seize more market share.
Lin Wei immediately organized a team to conduct analysis and research.
"We need to speed up the research and development of new products and launch more competitive products before them," said Lin Wei.
The R&D team was under tremendous pressure, but they did not back down and continued to work hard day and night.
In this fierce competition, some problems also appeared in Lin Wei's company. Some employees complained because of excessive work pressure, and there were also some obstacles in communication and coordination between departments, resulting in a decline in work efficiency.
Lin Wei realized that these internal problems must be resolved in order to better cope with external competition.
She organized a general staff meeting to explain to everyone the severe situation and huge challenges facing the company, and encouraged everyone to unite and work together to overcome the difficulties.
"We are a team. As long as we think and work together, no difficulties can stop us." Lin Wei's words are full of power.
After a period of hard work, Lin Wei's company finally developed a new breakthrough product. This product has greatly improved performance and function, but when it was launched on the market, the promotion effect was not ideal because competitors had already occupied most of the market share.
Although Lin Wei has taken a series of measures, including increasing marketing efforts and optimizing services, competitors still firmly control the market initiative by virtue of their early advantages and continuous innovation.
After several months of fierce competition, Lin Wei's company still failed to gain the upper hand. The competitors always maintained their leading position due to sufficient funds and continuous technological breakthroughs.
Although Lin Wei did not defeat her competitors, she did not give up.
"Although we didn't win this time, we have accumulated valuable experience. As long as we keep working hard, there will definitely be opportunities in the future," Lin Wei said at a company meeting.
Although the employees felt a little disappointed, with Lin Wei's encouragement, they were still full of fighting spirit and ready to meet future challenges.
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