The Tyrant Billionaire

Victor reported the sales situation of the Viegra to Hardy, and finally said, "Based on the current market, the annual profit margin of the pharmaceutical factory can reach around 1.2 million Hong Kong dollars."n/ô/vel/b//jn dot c//om

In fact, the vast majority of the profit was taken by Hardy's sales company.

However, Hardy knew that this was just the beginning. Once the reputation continued to grow and the market recognition increased, sales would significantly rise.

"Have the sales company continue to deeply explore the U.S market. Secondly, start developing the European and the South American markets. The sales there may not be as strong as in the U.S. but with the large number of countries, the accumulated small sales will add up to a substantial amount," Hardy instructed.

"I understand, boss."

"There's one more thing, boss. Some people are saying the price of the Viegra is too high, which is affecting sales. Should we consider lowering the price?" Victor asked.

Hardy immediately waved his hand.

"Absolutely not. Let me tell you, those who can afford it don't care about the price, and those who do aren't our target customers. Viegra is not a necessity; it is for those seeking extra pleasure."

"Besides, lowering the price would damage the reputation far more than the increase in profit. Even if we have to run more ads, we won't lower the price."

After thinking for a moment, Hardy added, "Notify Samuel, I will visit the Hardy Health Sciences Institute this afternoon."

"Yes, boss."

The Hardy Health Sciences Institute had been established for a little over a month. It already had about 20 researchers, some of whom were graduates from prestigious U.S. universities, while others were previously experienced researchers from the Hong Kong Institute who had been recently poached. Several young scholars specializing in health supplements and modern medicine were also part of the team.

Hardy acknowledged the importance of modern medicine and saw its potential for the future.

He knew that Western medicine was the future trend. The purpose of setting up the Hardy Health Sciences Institute was to primarily help his company research health supplements.

To make money.

Another purpose was to gather a group of top medical researchers so that if he or his family fell ill, they could rely on these people for treatment.

Both of these goals were highly pragmatic, and Hardy had never hidden his utilitarian approach.

The final goal was to explore new health trends and develop cutting-edge products for the future market. In other words, to stay ahead of the competition in the booming health industry.

Samuel accompanied Hardy into the Hardy Health Sciences Institute, and as soon as they entered, they heard arguing inside. Several young doctors and older researchers were quarreling heatedly. Samuel quickly stepped forward to stop them.

When everyone saw that the boss and the big boss had arrived, they quickly ceased their dispute.

"What were you arguing about?" Hardy asked.

A young doctor stepped forward and said, "It was about a supplement ingredient, ginseng extract. We believe American ginseng (Panax quinquefolius) is better for health, while the older researchers think the Chinese ginseng is better. That's what we were arguing about."

Hardy smiled.

He thought arguments were fine—clashes bring sparks of inspiration.

Hardy then had a discussion with the researchers at the institute, hoping they would contribute to advancing modern health science. In the future, Hardy's group also planned to open a health supplement hospital and even establish a health science university. The doctors could either practice at the hospital or teach at the university.

"Boss, are you really going to establish a health science university? I've been hoping for this for years. When can we see it happen?" asked an excited Dr. William Zane.

"Very soon. I've already instructed Victor to propose building a health sciences college back in Las Vegas. The college will have two departments: Modern medicine and modern health science. Though each will have its own focus, they will both have some exposure to the other field."

"As for the hospital, I've already asked Samuel to start looking for a site."

The crowd was excited by the boss's words, feeling uplifted. Following a powerful boss felt great. What had seemed impossible was resolved in just a few words.

Money truly is a superpower!

When Hardy arrived at the director's office, only he and Samuel were left inside. Hardy said, "The institute should publish its own magazine, called the Health Science Research Journal. It will be a monthly publication, and everyone at the institute must write at least one article each month. This will encourage their research enthusiasm and keep them from arguing all day."

"The sales of Viegra in the U.S. are excellent. Keep increasing production—bring it to over one million pills per month."

"Start developing new products, targeting women, the elderly, and children. As I've said before, health products need to cater to specific groups. We must capture the consumers psychology."

"One other crucial thing: you need to understand human nature in order to get consumers to buy."

Samuel was puzzled.

"Could you explain in more detail, boss?"

Hardy said: "It's simple. For example, health products for women can be made into oral liquid form and called 'Women's Oral Liquid,' focusing on beauty and anti-aging. What do women desire the most? Beauty. And what do they fear the most? Aging.

So we focus on this direction."

"Vitamin E has the effect of nourishing the skin. We can include that in the oral liquid, along with other beneficial extracts. I believe we can develop an excellent health product for women."

"But remember a few points. First, it has to be convenient to take. People nowadays are lazy—if it's too much trouble, they'll give up. Second, the taste must be good. The saying 'bitter medicine cures the disease' is outdated; customers want a good experience. The oral liquid must taste delicious."

"Third, it must be effective—but not too effective."

Samuel looked at Hardy in surprise, "Why not make it too effective? Wouldn't that attract more customers?"

Hardy shook his head.

"One economic principle is that the cost of acquiring new customers is more than five times the cost of retaining old ones. We need to keep developing new customers, but we absolutely must retain the old ones."