Recently, due to rising raw material prices, high labor costs, and the downturn in the upstream real estate industry, many related hardware and electrical machinery industries have suffered severe setbacks. On the one hand, market demand has shrunk dramatically. On the other hand, excessive production leads to vicious competition among enterprises. The subsequent price war makes the profit space of enterprises smaller and smaller.
At present, hardware and electronics companies have become more competitive in the homogenization of upstream and downstream companies. In the depressed market environment, industry reshuffle has frequently occurred. Many companies are eager to get away from price wars and begin to shift to new directions for increasing the added value of their products.
According to the author's understanding, the added value of the product is the value created by the effective labor in the production process based on the original value of the product. That is, the new value attached to the original value of the product. The better the value-added marketing of a product, the more competitive the company will be in the market, and the more lasting, higher profit returns and market share.
In this regard, the author summarizes the following ways to increase the added value of products, hoping to provide some reference for hardware and electromechanical companies.
First, technological innovation. Science and technology are the primary productive forces, and starting from the product manufacturing itself is a fundamental departure. After all, the vast majority of consumers will be more likely to consider whether to purchase from the perspective of product functionality and quality. Hardware and electromechanical companies need to increase the technological content of their products. Only if the products themselves are of excellent quality can they have a solid foundation for winning the market.
Second, improve the professional quality and efficiency of employees. The hardware and electrical machinery industries are mostly labor-intensive enterprises. Enterprises can only rely on their employees to develop more talents and work together in a concerted effort to continue to increase the momentum for the development of enterprises. With good management and layout of human resources, companies can effectively control labor costs and create greater profit margins for their products.
Third, improve the services in the sales process. Product services play an important role in increasing the added value of products. In the case of similar products on the market, good services tend to attract consumers more easily and form brand loyalty. A good service can bring long-term benefits to the company.
Fourth, expand brand marketing force and build brand value. Brand strategy plays an important role in enhancing the added value of products. Brands can not only distinguish products from other similar products, but also play a role in connecting companies and consumers. The brand embodies the cultural connotation of the company, influences and sustains the emotions of the consumers. The brand excavates and meets the higher demand of consumers, thereby creating more values ​​and benefits, and making consumers willing to pay higher prices. The brand's consumer loyalty and permanence are unmatched by other methods and can create high value-added products over the long term.
In addition to the above methods, according to the author's observation, some hardware and electromechanical companies will also increase the added value of products through the development of series of products and ancillary products, or through the change of marketing channels, take the differentiated competition route to get rid of the disadvantages of low-cost competition.
In addition, there are a large number of hardware and electromechanical companies in the advertising, a large number of investment, through emotional or publicity or celebrity endorsement products, establish a corporate image, etc. to enhance the brand value. For example, many domestic sanitary ware companies often make great efforts in celebrity endorsements and advertisement packaging, which has increased the attention of the brand to some extent.
In fact, there are many ways to increase value-added for different products in different industries. Hardware and electromechanical companies should not be limited to inherent knowledge and experience. After all, continuous innovation can bring better opportunities for business development.
At present, hardware and electronics companies have become more competitive in the homogenization of upstream and downstream companies. In the depressed market environment, industry reshuffle has frequently occurred. Many companies are eager to get away from price wars and begin to shift to new directions for increasing the added value of their products.
According to the author's understanding, the added value of the product is the value created by the effective labor in the production process based on the original value of the product. That is, the new value attached to the original value of the product. The better the value-added marketing of a product, the more competitive the company will be in the market, and the more lasting, higher profit returns and market share.
In this regard, the author summarizes the following ways to increase the added value of products, hoping to provide some reference for hardware and electromechanical companies.
First, technological innovation. Science and technology are the primary productive forces, and starting from the product manufacturing itself is a fundamental departure. After all, the vast majority of consumers will be more likely to consider whether to purchase from the perspective of product functionality and quality. Hardware and electromechanical companies need to increase the technological content of their products. Only if the products themselves are of excellent quality can they have a solid foundation for winning the market.
Second, improve the professional quality and efficiency of employees. The hardware and electrical machinery industries are mostly labor-intensive enterprises. Enterprises can only rely on their employees to develop more talents and work together in a concerted effort to continue to increase the momentum for the development of enterprises. With good management and layout of human resources, companies can effectively control labor costs and create greater profit margins for their products.
Third, improve the services in the sales process. Product services play an important role in increasing the added value of products. In the case of similar products on the market, good services tend to attract consumers more easily and form brand loyalty. A good service can bring long-term benefits to the company.
Fourth, expand brand marketing force and build brand value. Brand strategy plays an important role in enhancing the added value of products. Brands can not only distinguish products from other similar products, but also play a role in connecting companies and consumers. The brand embodies the cultural connotation of the company, influences and sustains the emotions of the consumers. The brand excavates and meets the higher demand of consumers, thereby creating more values ​​and benefits, and making consumers willing to pay higher prices. The brand's consumer loyalty and permanence are unmatched by other methods and can create high value-added products over the long term.
In addition to the above methods, according to the author's observation, some hardware and electromechanical companies will also increase the added value of products through the development of series of products and ancillary products, or through the change of marketing channels, take the differentiated competition route to get rid of the disadvantages of low-cost competition.
In addition, there are a large number of hardware and electromechanical companies in the advertising, a large number of investment, through emotional or publicity or celebrity endorsement products, establish a corporate image, etc. to enhance the brand value. For example, many domestic sanitary ware companies often make great efforts in celebrity endorsements and advertisement packaging, which has increased the attention of the brand to some extent.
In fact, there are many ways to increase value-added for different products in different industries. Hardware and electromechanical companies should not be limited to inherent knowledge and experience. After all, continuous innovation can bring better opportunities for business development.
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