Pure monopolists are the most powerful players in the market, but there are many strategies that they can use.
It is crucial to know what these strategies are so you can leverage your power and maintain a monopoly position.
This blog post will teach you how to do just that.
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There are many strategies that a pure monopolist should use in order to maintain their position and power, but there are some things they should never do.
One of these mistakes would be dumping products or services on the market for lower prices without considering the consequences.
Such an act will make customers think you’re not confident enough about your service so they might start looking elsewhere .
Because if you can’t charge higher prices then other companies can provide the same product at cheaper rates which means it’s no longer worth paying more just to buy from you over them.
If we want to take advantage of our strength as a monopoly, one strategy is simply raising price – even though this alone isn’t going to work forever.