Reborn Industrial Tycoon

The enthusiasm of the exhibitors was beyond Hayward's expectation. Fried chicken, fried steak, and fried fish steak all looked very fresh. Also fresh were silkworm chrysalises, all of which were still alive!

Seeing the silkworm chrysalis, Hayward felt nauseated and almost vomited out the two slices of bread he had eaten in the morning.

"I want to stay away from those bugs!" Hayward walked to the edge of the exhibition area and looked at the booth with fried silkworm chrysalis with lingering fear, thinking that he would never go there again.

The exhibitors did not give up their promotion, and the one closest to Hayward was Manager Xue of the Jiang Aiguo Pavilion.

"Sir, do you want to take a look at this air fryer? This product mainly uses air to replace the hot oil in the original frying pan to cook the food; at the same time, the hot air also blows away the moisture on the surface of the food, making the ingredients

Achieve an effect similar to deep-frying." Manager Xue almost copied Li Weidong's sales pitch.

Hayward did not need an introduction from Manager Xue. He had already understood the principles of the air fryer. Now he just wanted to finish the work as soon as possible and stay away from the pile of squirming silkworm chrysalises.

So Hayward asked: "How much does an air fryer like yours cost?"

"One unit only costs US$280!" Manager Xue replied.

Manager Xue has obviously done his homework. He found out through his connections that the air fryer Li Weidong sold to Hayward at the last Canton Fair was 285, so this time he simply quoted a price of 280, which beat Li Weidong.

One head.

"It's cheaper than in April!" Hayward thought to himself, but he was not in a hurry to place an order. Since there are so many air fryers here, he had to shop around. Of course, the one that fried silkworm chrysalises was not in Hainan.

Within Ward's consideration.

Hayward did not speak, but looked at the air fryer next to him.

The exhibitor immediately eagerly introduced his product to Hayward.

"How much does your air fryer cost?" Hayward asked.

"The air fryer produced by our factory only costs 270 US dollars!" the man replied.

"It's another $10 cheaper. It seems there is still room for price reduction. I have to look around again!" Hayward thought to himself.

Manager Xue glared at the person next to him with dissatisfaction, and then he said: "Sir, we can talk about the price again. 270 US dollars is not impossible!"

At this time, another exhibitor simply walked over with an air fryer in his arms and said, "Sir, our products only sell for $250. If the quantity is large, there are discounts!"

"Sir, our products are sold for only 230 US dollars!"

The familiar price war has begun again.

A few minutes later, the price of the air fryer dropped to US$150, and three exhibitors quoted this price at the same time, including Manager Xue.

Hearing the quotation of US$150, Li Weidong shook his head slightly. The price was similar to what he expected.

If it were the Canton Fair in the first half of the year, you could still make a lot of money selling air fryers for $150.

But at the Canton Fair in the second half of the year, selling air fryers for US$150 basically doesn't make much profit, and it's possible to make a profit at a loss.

1988 was a year of skyrocketing prices. The prices of various raw materials used in air fryers were also rising. The price of the same heating rod in the first half of the year and the second half of the year was completely different, which also increased the material cost of the air fryer.

.

Moreover, the trend of rising prices has not been curbed. It is not an exaggeration to say that prices remain the same every day.

Even though the price of each air fryer is now US$150, by the time the raw materials are purchased, the price may have risen again. By then, US$150 may not be enough to cover the cost of the raw materials, and production may lose money.

Fortunately, in September 1988, Shanghai established China's first open market for foreign exchange adjustments. The open market canceled the price limit for foreign exchange exchange and implemented a market-based approach. The exchange rate of the US dollar against the RMB was no longer limited to 4.2 yuan per US dollar.

highest price.

This is obviously good news for foreign trade companies. One dollar earned by a foreign trade company can be exchanged for more RMB, which greatly reduces the cost pressure of foreign trade companies.

It is also for this reason that various air fryer copycat factories will quote a price of 150 US dollars. As long as the RMB can continue to depreciate, then 150 US dollars can protect the capital.

Hayward is still very satisfied with the price. Six months ago, he spent $285 to buy an air fryer. Now the price is more than half off. Hayward has nothing to be dissatisfied with.

"Feedback from the United States shows that the sales of air fryers are pretty good, especially among the middle class who pay attention to healthy eating and are willing to spend money to buy air fryers. Now that the price of air fryers has also dropped, I can buy more

Buy some! There are so many manufacturers to choose from, who should I buy?" Hayward fell into difficulty in choosing.

At this moment, Li Weidong came over.

"Mr. Hayward, long time no see. Nice to see you again!" Li Weidong said.

"Oh, Lee, I didn't see you just now, I thought you weren't here!" Hayward said.

Li Weidong smiled and replied: "Of course I have to come, and I also brought my products."

"Is it still an air fryer?" Hayward asked.

"It's an upgraded version of the air fryer." Li Weidong pointed to his booth and then said, "Mr. Hayward, are you interested? Come and take a look?"

"When buying something, you have to shop around. It's definitely good to check out more stores." Hayward walked towards Li Weidong's booth.

Li Weidong pointed to his air fryer, and then said: "Mr. Hayward, you must know the principles and functions of the air fryer, so I won't introduce it in detail. What I want to explain now is that I

New features for this product!”

Li Weidong pointed to a knob on the air fryer and continued: "This is a timer function. When using the air fryer, you can set a time. When the time is up, the air fryer can stop working by itself, which is very convenient.

of."

Hayward nodded, this is not a new feature, it has also appeared on other household appliances.

Li Weidong pointed to another button and continued: "This is the temperature control function. I have set three different temperatures of high, medium and low. When using the air fryer, you can use it according to different foods.

Heating at different temperatures.”

Hayward nodded again: "These two functions are relatively practical. If I were a consumer, I would choose a product with more functions."

From Hayward's perspective, he wouldn't mind buying two air fryers, one original and one with new features.

A large retailer like Costco has a wide range of products, which is one of its selling points. There are multiple types of the same product, which can also meet the needs of different buyers.

Li Weidong smiled and then said: "Mr. Hayward, thank you for the compliment, but my products are more expensive than theirs."

"I can understand that adding new functions will inevitably cost more, and it is normal for the price to be higher." Hayward then asked: "What is your quotation for the air fryer?"

"220 US dollars!" Li Weidong said.

Others have lowered the price to 150 US dollars, which is equivalent to exposing the bottom. Li Weidong will naturally follow suit and lower the price. He cannot continue to hold on to the price of 285 US dollars, otherwise it will be difficult to sell.

After Li Weidong's calculations, as long as he can sell the new air fryer for US$200, he can guarantee a relatively high profit.

After all, the foreign exchange adjustment market has relaxed price limits. When settling foreign exchange, Li Weidong can wait for more RMB to make up for the loss of the price reduction.

Moreover, lowering prices will also help increase sales. Small profits but quick turnover will not affect the overall income.

However, Hayward across from him had a surprised expression.

"220 US dollars? So expensive?" Hayward shook his head and continued: "The two functions you added are not difficult technologies. Just these two functions are not worth 70 US dollars!"

"The price can be negotiated." Li Weidong said with a smile.

Hayward breathed a sigh of relief and said, "Mr. Li, we are old acquaintances. I hope our conversation can be candid. You should give me the lowest price."

"Okay." Li Weidong nodded, and then said: "200 US dollars, this is my lowest price!"

"Mr. Li, I don't feel your honesty!" Hayward shook his head and continued: "Although other air fryers have two fewer functions than yours, they are 50 US dollars cheaper than yours.

Just the two functions of timer and temperature control are not worth 50 US dollars. I don’t think American consumers will spend an extra 50 US dollars for these two functions. So I’m very sorry, I’m afraid I can’t continue.

It’s time to purchase your products.”

Hayward was about to leave, but Li Weidong stopped Hayward: "Mr. Hayward, please wait a minute, aren't you curious why other air fryers only cost 150 US dollars, but I want

Selling it for $200?"

"Is it because your product has two more functions? Or does your product have other special features?" Hayward asked.

"Just these two additional functions are certainly not worth 50 US dollars!" Li Weidong pointed around and then said: "The reason why other air fryers are so cheap is because they have not paid patent licensing fees."

"Patent licensing fee? What do you mean? Please make it clearer." Hayward's expression became solemn.

"This air fryer is a patented product. It has now passed the PCT patent certification and has applied for patents in major countries such as the United States, the United Kingdom, France, Germany, Japan, Canada, and Australia."

Li Weidong pointed around again and continued: "These air fryers you are looking at for $150 have not paid a penny in patent licensing fees! Their prices are naturally much cheaper."

"Mr. Li, do you mean that the products you sell have patent authorization, but others do not?" Hayward asked immediately.

Li Weidong did not answer directly, but said: "To be honest, I invented this air fryer! So I know the patent licensing status of the air fryer!"

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