Chapter 703
Michael let out a cold snort. “That’s right. This is my top-tier business insight. Short and simple. Quality is found in simplicity.”
He continued, “Take everyone here, for example. None of you are exactly broke. If you see a car you like, are you really going to sit there crunching numbers? No—you’ll sign the papers and drive off.
“When you go out to eat, does it really matter if the bill’s 1000 dollars or even 5000 dollars? As long as the food’s good and you’re enjoying yourself, you’ll happily pay, right?”
One of the executives immediately chimed in, “Mr. Rhodes is absolutely right. These days, I don’t even look at price tags. If I like something, I buy it.”
Another manager eagerly added, “Exactly. Wealthy customers don’t stress about prices. The only thing that matters is whether they want it.”
A third executive even went as far as bragging about their extravagant lifestyle, boasting about how easily they spent money without batting an eye.
Andrew shook his head and laughed. “I don’t know whether to call you guys clueless or just plain dense. You all keep talking about how wealthy people buy things because they like them. But what makes someone like a product? It’s not the price tag—it’s the quality, the appeal, and the craftsmanship.
“Now let me ask you something—are Bane’s three so-called miracle products actually top-tier? Are they game-changers in the market? Do they outperform the competition so convincingly that people can’t resist buying them?”
The room instantly fell into silence, and even Tiana was frowning.
Michael, however, gritted his teeth and snapped, “Our products may not be the absolute best on the market, but they’re definitely top-tier. And more importantly, we’re targeting high-income customers.”
Andrew gave a mocking nod. “Okay, let’s assume you’re right and call them top-tier. Now answer me this—if your production costs are sky-high, that means your prices will be, too, right?”
Michael straightened his back and smirked. “Of course. High production costs mean higher pricing. And higher prices mean more money out of those wealthy wallets. That’s the whole point.”
Andrew clicked his tongue, shaking his head in disbelief. “Wow. I’m genuinely impressed. I didn’t think anyone could publicly admit to being this dumb and still sound so proud about it.
“Look around you—countless pharmaceutical companies are producing better-quality products at a fraction of your costs. And you know what? They don’t jack their prices through the roof.
“Why? Because even the most successful companies know that price gouging is a surefire way to lose customers. But here you are, with ridiculously high costs, deciding to go head-to-head with established competitors by slapping luxury price tags on your products.
“Honestly, whoever came up with this strategy must’ve spent years recovering from a brain injury.”
Lauren cleared her throat and said, “Dr. Lloyd has a valid point. If our costs are that high, our profit margins will automatically shrink. And with our premium pricing, why would customers choose our products when equally good—if not better—options are available for less?
“Consumers aren’t stupid. They’ll always go for high-quality products at fair prices. That’s how the pharmaceutical market works.”
Andrew let out a low chuckle. “Exactly. It doesn’t matter if you’re rich or broke—nobody likes feeling ripped off. Why would a wealthy customer pay a thousand dollars for medication when they can get an equally effective alternative for half the price?”
Michael’s face twisted with frustration. “That’s not a big deal! If necessary, we’ll match our prices to the competition’s. We’ll sell at the same premium rates as the top brands, and since our products are just as good, we’ll still maintain a competitive edge. It’ll be an even playing field at worst.”
Chapter 704