Liam breathed a sigh of relief and was busy saying, “Don’t worry, I’ll give everyone a red packet when I get back ……”
Saying that, he added: “By the way Master Wade, the cost of this medicine, Solid Gold Life Renewing San, is really too high, it’s all precious herbs, just to try out this piece of medicinal clay, nearly 100,000 yuan of herbs were used ……”
Charlie wade nodded and said seriously, “This kind of great tonic type of medicine, the requirements of the herbs themselves are very high, the cost must be high, in the future if this kind of medicine is brought to the market, I’m afraid that it will be just like the Angong Niuhuang Pill, only those rich people can afford it.”
Liam sighed, “This is the law of business and also the reality, just like those luxury cars that can easily cost millions, the cost of materials and brand value is piled up there, itself is for the rich, ordinary people simply do not have the opportunity.”
Charlie wade sighed: “It is indeed the law of business, there is not much that can be done about that.”
Saying that, Charlie wade also said to Liam: “Liam, this medicine, Solid Gold Life Renewing Pill, you also try to make a batch out first, as a kind of high-end great tonic medicine of our Jiu Xuan Pharmaceutical into the market, as for the price, naturally, it should be set higher, the domestic retail price should be more than ten times the estimated total cost, and abroad should be more than twenty times.”
“After production, we can first give a trial to some high-end customers to see their reaction, and if they have a very urgent demand for this medicine, then the price can also rise appropriately again.”
This point was not because Charlie wade was black-hearted, but the selling price of high-end medicines, itself, had an extremely high premium component, especially high-end tonic medicines, which were even more ridiculously expensive.
Although the popularity of wormwood had dropped a lot over the years, the price had not dropped at all, and a gram of high-end wormwood was more expensive than gold.
As for things like ginseng and deer antler, it was the same.
Liam naturally understood this business logic and said to Charlie wade without hesitation, “Don’t worry, Master Wade, I will immediately start making a batch of samples first after I return.”
He said, “Right, Master Wade, I suggest that we do not make this kind of tonic medicine into a medicine, but rather into a health product, as the censorship system for health products is much more relaxed in countries around the world. That way there will be a bit more freedom.”
Charlie wade nodded, “Let’s do as you say.”
Liam asked him, “Master Wade, what should we call this health product?”
Charlie wade thought about it and said out of the blue, “Let’s call it Jiu Xuan Solid Gold San! Make capsules after thoroughly drying and powdering the medicinal clay, and market it as a high-end health product.”
Speaking of this, Charlie wade instructed him again, “But let’s not cooperate with any pharmacies as well as supermarket outlets, after all, our product must be the best in its category, plus Jiu Xuan Pharmaceutical now has a notable reputation, there is absolutely no need to rely on other people’s sales channels.”
“Letting others sell for us would not only take away our profits, it would also bring us management risks.”
“Just like certain well-known liquors that are called national liquors, it’s not enough for distributors to increase prices in all kinds of ways, the market is also flooded with a large number of counterfeit goods, and many people sell both real and fake, making a mess of the market.”
“1499 a bottle of liquor is already expensive, but as a result, it is still not available at all, and if you want to buy it, you have to pay double the price, this unhealthy model is almost entirely due to dealer speculation, so we are directly cutting out dealers and only doing direct marketing!”
“When the time comes, we will open an online flagship shop, so that all users can order from online, and in the future, when there are more varieties, we can also open our direct shops offline, so that we can ensure stable prices at the end and eliminate counterfeit goods!”
Liam said without a second thought, “Okay Master Wade, I will immediately start working on the official flagship shop online!”