Friday, April 17, 2020

Business Strategy of Monopoly and Dominance




Business Strategy of Monopoly and Dominance


If you are African, you must have used this two products. Even here in the U.S I still enjoy this dairy till date. For me I prefer Three Crowns for the thickness and a little bit of it's sugary taste. 60% may say they will go for Peak Milk. Well that's alright, but the fact is Peak Milk and Three Crowns is produced by same company ''FrieslandCampina WAMCO'' I guess you didn't know that 😂
Now the lesson I want you to learn today from this is the business strategy behind business monopoly and dominance.




First Business Monopoly means that you get into a business sector strategically occupy a better percentage of the sector to almost exclude competitors. On the other hand Dominance is the art of taking over.
Thus, monopoly and dominance work hand in hand. Companies who practice this two strategies always determine the price of the market.
They can decide to increase prices any time. Take for example when the price of peak milk went up, many started buying Three Crown, but the fact is whether you buy Peak Milk or Three Crowns, you are making FrieslandCampina WAMCO richer. Like I said earlier the two products are produced by this same company.


But see what FrieslandCampina WAMCO did; They strategically positioned themselves in such a way that if you love your milk a little bit sweet you will go for Three Crowns, otherwise you will choose Peak.
This is not only business of monopoly and dominance, but dynamic strategy.
As you plan to get into the business arena, get ready for competitors. Get ready to have always move ahead. When FrieslandCampina WAMCO came into the scene, they produced peak milk and immediately produced three crown too making you feel like they already have a strong competitor.
If you understand how monopoly works, you will understand that Three Crowns is a Market Control product.



As a young entrepreneur make sure you plan ahead for your competitors and competition.
When we started www.viraltrend.org we started having competitors and competitions... Of course I was prepared for that. Whenever our competitors think they have understood our business model, we add a new strategic and dynamic feature...
In conclusion, learn to tweak your business idea every now and then... Be strategically dominance! What this helpful?


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