Sharing Daily Discoveries About Personal Finance And Business Topics

Intentionally Losing Money To Gain Users And Market Share

financial literacy

I have been seriously researching if I should get a new smartphone as my over three year old one seems to be struggling many times with more modern day applications. During my research I read about this phone from a company called OnePlus where its phone has some pretty ridiculous specs it seems at a price that is a lot cheaper than the well-known high end phones. From what I read, they are kind of going with the Google Nexus approach where the goal is to establish itself in the market. With that in mind, making a high end product at a cheap price does just that.

Sure enough, it seemed like the company has generated a lot of word of mouth and viral marketing because of it. It made me think how when it comes to scenarios like these it can make a purchasing decision a lot easier. Often when a product is so much cheaper than the competition you have to wonder where the company has cut corners. When you learn that they are essentially eating the cost to try and get more market share it sure gives more confidence in buying the product.

The only drawback is that you need to do your research as this isn’t exactly a business detail that a company plasters many times. I would have probably bought this phone if it were not for the fact that I heard a new model is supposed to be announced soon. Good to know there are these kinds of options available though for those that want the higher end devices without paying the premium prices for it. Will only last until the company becomes big of course probably.

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