Business and Money Tips

When people ask Tony Chen, CEO of Oppo, to cut his price for his company's latest flagship device R9 Plus to be way below Samsung Galaxy S7, here's what he says, "I prefer to add value". Oppo ended up selling 1 million units in 3 days!  Oppo's value add has 8 features that others don't have: 2-years warranty (vs others 1-year, worth at least S$400) First year free accidental cracked screen repair, worth S$180  One-to-one exchange for repair, worth the phone itself S$769) Free 4 screen protector replacements in first year (worth S$60) Free screen glass protector (worth S$15) Free back casing protective cover (worth S$15) Free headphone worth S$80 Free Oppo water bottle worth S$20 Total value add of Oppo: S$1,539 (double the value of the phone S$769) Discounting creates the perception that you are cheap. When you discount, you encourage price shoppers, not loyal customers. A far better way is to add value. There are 2 magical ways that you too...