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After gesturing for Jae-Yoon to sit down, Jeong Do-Jun sat near the door and spoke up, “Interesting. You don’t seem like someone from It’s Home Shopping. You have a different vibe.”
“As you can see.”
CEO Jeong looked down at the business card carefully this time and asked in a polite tone, “I have met quite a few people in charge from It’s, but...since the CEO himself has come all this way, I assume you have a very intriguing proposal?”
“Aren’t you interested in the fact that the sales price is 900,000 won?”
“You seem to have a way with words.”
Just then, the employee, who had met Jae-Yoon, came in with coffee. As Jeong Do-Jun said, it was deep and strong.
“Instead of cutting the price, you’re actually suggesting matching it to 900,000 won? What’s the catch?”
“There’s no catch. It’s not a matter of taste. There’s no one here to impress. It’s just you and me, Mr. Jeong. Let’s speak freely.”
It was not easy to have a meeting with a partner as a CEO. If you were a team member, you could say, “I’ll consult with the team leader and get back to you,” and if you were a team leader, you could say, “I’ll report to the manager or the head of the department and contact you.” That way, you could subtly hide your true intentions.
However, Jae-Yoon was different now. He was the CEO, who had the final say. CEO Jeong was the same. There was no need to beat around the bush or use unnecessary tricks. At least in Jae-Yoon’s eyes, Jeong Do-Jun seemed to be a rational person just like him.
“This is the configuration proposed by It’s.” Jae-Yoon handed over the prepared materials.
790,000 won for the main product. Then, add 209,000 won to that for essential parts, for a total of exactly 999,000 won. This was the biggest difference from Chinese products and MilkBot. In the case of Chinese products, the low price couldn’t handle the aftermath. Not to mention additional purchases or replacements of parts. Even after-sales service (AS) took a month. AS in name only; it was practically refurbishment. When purchasing, people might think, ‘Well, if it breaks, so be it…’ That’s how people were.
No matter how moderately you used it, if the performance fell short of expectations or if it broke down quickly, it was hard to say good things. That was the power of word-of-mouth.
However, MilkBot was different.
Parts such as filters, dustbins, and dust brushes could be purchased additionally through the homepage at any time, even for discontinued models that were sold ten years ago.
A solid AS network, even for a small and medium-sized company, was also a big advantage. In case of emergency, it could be accepted by courier. Taking responsibility for the products they sold until the end. The mindset itself was different from that of low-priced products.
“Where did you get the data?” CEO Jeong asked abruptly, his eyes fixed on the data.
“I referred to the sales page. I also referred to the home appliance community. I just sorted it by the number of reviews and comments. I’m a person who sells things, not a hacker.”
As Jae-Yoon shrugged, Jeong Do-Jun pursed his lips. After staring at the document for a while, he asked several questions in a row.
“I’ve heard rumors about the It’s Home Shopping CEO being a parachute appointment? { Parachute Appointment: When someone is hired due to nepotism. } You must have competent employees to prepare such a report. I’m tempted. Can you tell me who they are? I’d like to scout them.”
“Unfortunately, I’m still working alone.”
“Hmm, well, if that’s the case, I’ll have to think about it... The configuration is a bit unusual, so I’d like to hear what you have to say about it.”
Jae-Yoon felt that CEO Jeong was not crazy. He was a CEO who had done fieldwork.; therefore, he did not look at the macroscopic perspective, but dug into the details.
The appearance of the CEO at the meeting could have been seen as a picky nutcase by some. The CEO Jeong in front of Jae-Yoon felt like someone who was more sincere about the product than anyone else and was interested in expanding the channel.
“Are you satisfied with this configuration?”
“The configuration is fine. You’ve picked out the necessary consumables. It’s a configuration that anyone who knows our product can’t help but buy. 999,000 won. It’s a price that’s exactly 1,000 won less than 1 million won. Did you do that on purpose?”
“Isn’t that within an acceptable range of compromise?”
“Right. Although ending prices with a 9 isn’t my preference, I fully understand the channel characteristics. So, what about this...?”
Jae-Yoon’s gaze followed CEO Jeong’s index finger. It was the commission section.
Instead of answering, Jae-Yoon shrugged. CEO Jeong, noticing Jae-Yoon’s intention, smiled and continued, “I was a bit startled just now.”
“The standard commission rate is surprising to you?”
“Haven’t you heard? There was a company that offered a commission of up to 15%. You must have known that and came here.”
“I don’t think it’s necessary to talk about other companies here. What matters is what kind of contract is going on between It’s and MilkBot. You must know that a 15% commission offer from a home shopping mall means that it is a very special item, Mr. Jeong, but the fact that you refused means that there was another reason.”
CEO Jeong’s eyebrows twitched at Jae-Yoon’s confident expression. Still, he glanced at the shopping bag next to Jae-Yoon. He answered, pretending not to see it, “Some other reason, huh? Was there some unknown reason I’m not aware of? I just didn’t like the sales policy.”
“Price is a sensitive issue. Breaking the price on one channel is practically giving an opening to other channels.”
“More than that, hmm…” Jeong Do-Jun looked amused and thoughtful.
Jae-Yoon thought, It doesn’t matter what it is. This CEO’s focal point is what I consider most important. All I have to do is prod that a little.
“Mr. Jeong, there must be something more important to you than price.”
“Is there anything more important than margin for a businessman?”
“There is. You know, the industry calls you an eccentric, Mr. Jeong.”
“Eccentric, not nutjob? Well, it’s all the same.”
CEO Jeong picked up his coffee cup. Jae-Yoon also picked up his coffee cup and a cookie. However, warm coffee was not his taste.
“Eccentric or nutjob, Mr. Jeong, what do you think is MilkBot’s competing product?”
“Competition? Competition is…necessary.” CEO Jeong chuckled.
At that moment, Jae-Yoon knew. He knew the reason why he was called a nutjob. CEO Jeong spoke up again in a completely different tone from before. His eyes and expression had changed 180 degrees, making him seem like a different person,
“But, are there any products that can compete with ours? No matter which product is placed against ours, whether it’s Galaxy or Liv, I’m confident. Honestly, I find it somewhat offensive to even mention other companies’ products in comparison. MilkBot is just… MilkBot. Its competition is only with its previous versions, never with other companies’ products.”
His voice even grew louder. The calm person was gone, replaced by someone ready to devour with his glare.
However, Jae-Yoon spoke calmly, with a smile on his face, “There is a competitor.”
“No, CEO Min Ho-Jun of It’s Home Shopping. Are you here to make a joke with me?”
“Of course not. If I was going to make a joke, I would have sent a supervisor or a manager.”
“Competitor? Who is it? Galaxy? Liv?”
Mentioning Galaxy Electronics and Liv Electronics twice suggested Jeong Do-Jun considered MilkBot’s level similar to those companies. He must have endured quite some slight. Jae-Yoon had also experienced that situation a lot. No matter how much you matched the price and quality, consumers chose products with the brand of a large company.
A good quality domestic small and medium-sized enterprise product was in an ambiguous position. It was neither cheap nor had an outstanding name value. So, what was the reality?
“This is the competitor.” Jae-Yoon smiled and put the shopping bag on the table.
And the moment the contents of the shopping bag were revealed…
“What? Mr. Min. I’m really offended right now. You’re joking, aren’t you?” CEO Jeong uncrossed legs and straightened his posture. After checking the item, his expression crumpled as if he had chewed a cockroach.
Jae-Yoon cheered inwardly. That’s it. Half of it is over.
“No. Of course not.”
The identity of the item was the Home Run robot vacuum cleaner. The very product that had been the subject of a day-long struggle with the General Team members. CEO Jeong let out several tsk’s as if to say ‘Oh come on, really?’ then said irritably, “You’re saying this is a competing product? This?”
Jae-Yoon just nodded instead of answering.
“Mr. Min, do you know what competition means? This is made in China. It’s from Ningdo. Probably more than half of the robot vacuum cleaners made in China are from this house. What do you mean by this? Is it a provocation?”
“Ah, there seems to be a misunderstanding. The Chinese product being MilkBot’s competitor is not my opinion.”
“Excuse me? If it’s not your opinion, whose opinion is it?”
“Well, the team that launched this said so. I guess consumers think so, too.”
CEO Jeong scratched his head for a moment. After thinking about something alone, he seemed to have organized it and spoke up, “Wait a minute… Haha. What are you trying to do now, huh? I met you because I thought I could make a decent deal because you’re the CEO. Clearly not. I don’t think there’s anything more to talk about.”
CEO Jeong got up from his seat and headed for the door.
“Are you going to ignore me?”
Jae-Yoon’s cold, deliberate question left Jeong Do-Jun without an answer. As he reached for the doorknob…
“Ignoring it doesn’t change reality. Whether you mention Galaxy or Liv, MilkBot’s perceived competitor to consumers is Chinese products, Mr. Jeong.”
CEO Jeong’s fingertips trembled slightly. Whether it was wounded pride or denial of reality, it did not matter.
Jae-Yoon continued without a care, “Will you bring in famous celebrities, or will you aggressively give discounts for promotion? I know. In fact, without that price, it’s hard to see a margin. I’m also aware you have quite a bit of inventory. But how long will we comfort ourselves by saying we’re similar to big corporations? Or, in my eyes, it looks like you’re hiding.”
“Hiding?”
“Yes. You’re trying to hide behind the sign that says ‘Good quality, made in Korea’. The price is the same. Pride? Margin? Yes, that’s all good; but, let’s face reality, you’re afraid that if you lower the price, Chinese products will really become your competitors.”
“...”
“Please, sit down. It seems we need to talk more.”
CEO Jeong of MilkBot walked over and sat down, then massaged his temples.
This was so different from the companies that had visited so far. There was no product like MilkBot, as it was a groundbreaking technology that was not inferior to those of large companies. It was those who just kept talking sweet words.
Min Ho-Jun, on the other hand, expressed the opposite opinion that the competitor was Chinese products. CEO Jeong felt a little dizzy.
On the other hand, Jae-Yoon leisurely crossed his arms and leaned back in his chair. That was it. The victory had come over. The fact that he sat down didn’t mean that what he had been talking about until now was meaningless.
“Prove it.”
“How?”
“I’ll help you.”
“Through an It’s Home Shopping broadcast?”
“Yes. That’s why I didn’t cut the price and even suggested a configuration with a high margin for consumables. I’m giving you a chance.”
“A chance? How many are you going to sell? I’m curious about this now that you’re so confident.”
“I don’t know that either. Maybe even a shaman wouldn’t know.”
“Huh? You spoke so confidently earlier. You’re bluffing. I almost got persuaded.”
“It’s up to Mr. Jeong to decide how many to sell.”
Ultimately, the choice lay with the consumer.
“Wow... Mr. Min Ho-Jun, are you really trying to pressure me like this?”
“So, what are you going to do? Honestly, even if you brought MilkBot and paid advertising fees to us, it wouldn’t be satisfying. It’s an entire hour. For a whole hour, showing MilkBot, having the show host praise it relentlessly. Such an opportunity is rare. Whether one or ten thousand sell, that’s for you to make. You’re confident in the performance, right? Then show it.”
CEO Jeong made a gesture of raising both hands.
Jae-Yoon continued without missing a beat, “The proposal I gave you is the same. On our side, we will prepare customer value by setting up an app accumulation of 50,000 won instead of a discount coupon. You have enough stock, right?”
Jae-Yoon got up from his seat and held out his right hand. CEO Jeong shook his hand politely.
It was a place where someone was given a stepping stone to victory, and someone was prepared to leap into a bigger market.
A few days later, Deputy Manager Kim Tae-Hyeong came to work earlier than usual and accessed the company server. It was the day the next month’s scheduling notice was posted to check if the upcoming product launches were properly scheduled.
Leisurely drinking coffee and scrolling down, he stared at the monitor in shock. This was because he noticed an unusual item that he had never seen before.
“MilkBot? What is this? Who’s in charge? Oh my... Min Ho-Jun? Did he really bring this in?”
Kim Tae-Hyeong, with his eyes fixed on the monitor, called Park Choong-In.