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How power tool companies develop emerging markets

by:WORKSITE     2021-01-06
Further master and study the trade practices of European and American power tools, while stabilizing and continuously expanding the market share of my country's power tools in Western Europe and North America, strengthen the development of new markets to achieve market diversification, especially focusing on the development of African markets, Latin American markets and Eastern Europe market. Oppose low-price auctions and regulate the export market. Except for some foreign-funded enterprise products, the price of a large number of exported electric tools in my country is generally relatively low. The key reason for this phenomenon is the low price competition among export enterprises. The harm is quite serious. Some state-owned enterprises’ products are generally of good quality, but because of the higher cost, they have fallen in the competition. However, some of the poor quality or even inferior products have been exported by means of low-price competition. This has caused adverse effects on the market, which damages the image of our products. Especially in the past two years, this phenomenon has been extended from the foreign trade market to the domestic market, leading to an overall decline in the economic benefits of the entire industry. For the benefit of the country and the nation, it is now necessary to further regulate the market and promote fair competition, so that the power tool foreign trade market can truly thrive.
Establish a buyer's market concept in the competition. To realize the industry’s development around the market, companies must shift from focusing on production technology to marketing as the center. They must use professional products and do-it-yourself (DIY) products in their products. The company’s production, technology, marketing and The after-sales service must comply with the laws of the buyer's market. The power tool market in my country is maturing day by day, and brand awareness and brand effect will be prominent. In the next few years, the share of domestic power tools will further increase. As the demand for power tools continues to heat up, it will promote the production and operation of related enterprises in my country to develop in a favorable direction, and the industry prospects are promising.
It will also redistribute market share, and domestic brands will continue to replace foreign brands. The industry’s internal integration needs will be driven by industry leaders.
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