LED Lights- PRICE VS QUALITY

1. LED Lights- PRICE VS QUALITY The LED industry in India is growing at a rapid speed. With the start of new technologies and developments in the field of LED lighting, the use of LED lighting in businesses and households is growing at a staggering rate. The LED market believes that by the year 2022, LED light penetration in India’s lighting market will be a whopping 57 percent. This makes it the companies in India possible to become a prime market for LED lights. LEDs gained a mainstream presence in the lighting market. Major points behind this are the continuously declining LED prices in the country and favorable government initiatives, such as UJALA and SLNP, offering LEDs at a subsidized cost, and LED installation projects for streetlights, respectively. Luzion is one of the Best LED Light manufacturers in India competing with major brands like Philips, Havells, Bajaj, Wipro, Syska Led, and many more. Luzion manufactures a wide range of light products, from simple LED bulbs to higher-end equipment such as LED panels, which are highly efficient and utilize only a fraction of the power forms of lighting. Based on the price comparatively less than the major players in the segments.

2. The LED lighting market in India is highly fragmented, with a major number of domestic and international companies in the country. Due to the fragmented nature of the market, the competition among the players is high and so is the quality of the products. Due to the continuous fall of LED prices in the country, the competition has further increased among the manufacturers, driving further innovation and wider product choices, and lower prices in the price segment. Consumers tend to use higher prices to judge a product's quality looking at the same prospect. Luzion provides a high-quality product with a market price that is quite affordable than the big brands. Pricing is important, but in the long-term, it's the quality that ensures that customers stay loyal to your brand. It’s important to set your prices competitively. A special offer or deal can be great for attracting attention. however, most customers aren’t going to carry out a price comparison every time they shop. Instead, they’re looking for a reliable, trustworthy brand and a convenient, enjoyable shopping experience. There’s little point in enticing customers with a great price if they return to your competitor the following week. That’s why quality is more important. If you establish the confidence of customers in your product, you’ll win their loyalty.

3. Another key thing to note is what the price actually includes. If it seems too good to be true, it probably is. One factory’s low price may not include the “whole package,” including things like packaging, suitable master cartons, etc. When an importer is solely focused on low prices, they may not get adequate English support, timely follow-up, proper compliance, etc. So, while the price is low and the product condition is suitable, the overall product should be considered to be more than just the widget; it is everything the factory provides – and in this case, it is lacking. LED display industry after years of development, although the technology is basically mature, the price is also high and low, a big difference. The current LED display industry terminal customers generally have two hobbies are: high-end products to talk about the price, and low-end products talk about the quality of the old. Maybe a lot of problems such as screen headache, but it is not difficult to understand, in fact, the end customer is nothing more than the pursuit of product quality and price of a balance, in terms of popularity, is the product price. Product quality and price this is the same year, "the price in the end" must be accompanied by "quality in the end", but with the survival of the fittest market rules, poor quality products will eventually be abandoned by the market, especially in heavyweight LED display market, Never the lowest price of the bestselling products, but the relative price is high, excellent quality products are also not the amount, Therefore, looking for quality and price balance, to find their own cost- effective products, is the end customer The pursuit of LED display for enterprises, to provide customers with their cost-effective products, but also their goal. In other words, the success of the LED display business, is between the product quality and price, made a proper balance. They are in the customer's core demands that the quality of the bottom line to retain their own reasonable profit margins, since cannot take into account the best quality and lowest price, then uphold the "same quality I lower prices, the same price I quality High "ideas for themselves to re-create a reference point for the quality and price balance point.