Chinese Firework

If we analyses industry life cycle graphs, the Chinese firework industry is not in growing period, it can be counted at maturity phase such as sunset industry. According to Chinese Firework Industry article, there are some challenges for future outlook in Firework market, such as some safety regulations and increasing environmentally conscious among consumers. Both of them force the industry to be more manufacturing and it increases the cost. In addition to these disadvantages reproducing is another one we have to face off; when the new and innovative product is released out, the other manufacturers duplicate similar one. In my opinion, in this competitive environment, the small workshops will have suffered by implying this kind of regulation to their running because of cost driving competition.
Moreover, in recent years, modern technologies developed some substitutes such as make-believe firecrackers, some tricky balloons are being produced and used in some wedding ceremonies instead of fireworks. Furthermore, we cannot ignore the laser beams while talking about the new players in this industry. These substitutes may cause the reduction of sales of fireworks.
When a company is stuck in a situation that we mentioned above; there are two absolute ways: first one is running away which can be impossible for such a big firm like Liuyang, and second one is to war; try to get some benefit from the negative factors by using them as an advantage for us.

Let’s begin with the improving technology. In change of generations, the habits of people also start to change. They have less connection to traditional things according to their ancients. For instance, they choose laser beam instead of using fireworks for celebrations, it is more attractive for them and combining with a music show makes it perfect. Take a look at this situation as an opportunity, we can make it more attractive and also affect them in a positive way by combining firework shows with laser beam