The Lifan company tries to sell their products at very low prices to make it affordable for everyone
The Lifan company tries to sell their products at very low prices to make it affordable for everyone. They sell motorcycles as well as motorcycle’s engines. They also manufacture electrical goods, mineral water, wine, anti-theft doors, sport shoes. So, they have created high brand image in Vietnam than other companies. They have low cost production and low wages. So, they Can easily sell different new products because there are less restrictions for the new entrants or for the new products.
Western companies first try to establish their products in home market and focus to be specialized in niche products and then goes for export.
The Lifan company have big competitors in this automobile market like Honda but they knew that the demand will rise for motorcycles.