India is the biggest market for every product. People of India are well trained in copying the business. rcm business is also running worldwide , but here is the point of the business monopoly game. If anyone is able to create monopoly in business then he can eliminate the maximum competition in his market.
Business Monopoly Strategies
It is very common that people try to copy someone else’s business idea , but if you see Coca Cola , KFC Chicken and rcm business then they have uniqueness and also till no one knows the exact business idea of these companies.
I think when you come across your nearby market , then you see there are many people standing with the same products. It is a kind of attraction of one business , when someone succeeds in his business then more people try to do the same thing , but some people succeed and some people fail.
Today we are going to learn how we can eliminate the competition and create a business monopoly in our business. If you do not create a business monopoly then any people can beat you and you lose in your business.
Here , I am going to share important business lessons by which you can grow your business and also make a profitable business idea.
Table of Contents
- 1 – Intellectual Property Protection Business Monopoly Idea
- 2 – Patent & Licences
- 3 – Distribution Network To Make Business Monopoly
- 4 – Exclusive Rights
- 5 – Economics Of Sale
- 6 – High Capital Investment
- 7 – Excellent Customer Service
- 8 – Brand Awareness
1 – Intellectual Property Protection Business Monopoly Idea
If you want to create a monopoly in business then think like Coca Cola & KFC Chicken business idea. Only a few people in the world know how to make this syrup. It is very interesting that those people are not publicly available. This business was started in 1891 and know one the exact solution is a mixture of coca cola.
Business Monopoly Idea
Coca cola says to his employees that they mix the carbonated mixture and sugar into my syrup , but did not tell the actual combination of this syrup.
You can take another business monopoly example of KFC ( Kentucky Fried Chicken ) . This is a completely secret business idea by Colonel Sanders , which creates a monopoly in this business.
When any business idea is not public then this is called Trade Secret. you need to break the entry barrier for others and thus you are one and only one in your business.
If you tell your process of success to someone else then the success rate decreases. So you need to secret your therapy for success.
Both KFC and Coca Cola are the market kings in their products and no one can beat them even after hundreds of years. If you reveal the process of making then might be you lose your idea and anyone else become a billionaire with that idea.
Do you know , When Bill Gates attends any party then most people throw party beverages over them? Bill always offers small businesses to show their skill in Microsoft. If it is good then Microsoft accept their business idea and also do huge funding into them.
Many people are attracted by this offer. But guess what happened , Microsoft actually stole everyone’s idea and implemented it in their business. Due to this Microsoft grows everyday and small startups are eliminated on the earth.
This is why people hate Bill Gates. I am not sharing any philosophy class notes but , I am telling you how you can eliminate your competitor from the market.
2 – Patent & Licences
It is very important to get ownership for your business legally. If you Patent your product then no one can make that product and also no one can copy your trademark.
It is the best way to create a monopoly in your business. Most of the medical industries are doing well nowadays , In rcm business you can also see the Patent for the products.
Patent & Licences Business Monopoly Idea
If you want to sell and buy the Patent verified products then you need to get approval by the product owner. This is totally a government initiative and if any business failed to follow this then legal action was taken by the government against those companies. Sometimes companies get banned when they copy someone else’s business.
If you see Paytm and Paypal then they look the same in colour , somehow name and also pronunciation. We all know that Paypal comes first so they have the right to take legal action against Paytm. Now a case is running against this controversy.
India is a developing country and also lakhs of businesses are copied , so who can take patents. In my opinion if you are unique then make a Patent for your business , thus you can create a business monopoly and also grow more.
3 – Distribution Network To Make Business Monopoly
It is very important to make your distributors happy. If you fail to do that then any other company will grab this opportunity and you will lose your customer.
If any company makes products then distributors play a key role in selling the product across the world. If your distributor is happy with margin , product and also with supply cost then they recommend this product to their customers.
Business Monopoly By Distribution Strategy
Nokia and Samsung were the biggest distribution networks in India. But nowadays people have forgotten Nokia & Samsung. Distributors are very panicked with this company , they were not getting the profit and also supply rate was poor with Nokia.
Distributors looking for another opportunity in the field of telecom industry. When OPPO , VIVO and Redmi come in the market then they are in high demand. This happens because these companies know the problem of distributors. They give high profit and also high supply to distributors and it is recommended by every seller to their customers.
Nowadays Nokia is completely out of the market and people are gradually forgetting these mobile phones. Today if anyone wants to buy any phone then they are going with Redmi , Realme and OPPO.
Distribution networks make your business light , so do not play with them and also make them a family member. I hope you realise the importance of a distribution network in your business.
Many companies know the importance of distributors , so they offer them many rewards , tours & trips and also some extra benefits. So if you want to scale your business then make your distributors happy.
4 – Exclusive Rights
This is another fantastic way to create a monopoly in your business. If any mobile phone comes in the market then they offer Exclusive rights to distribution channels. We all know that in the world only Amazon & Flipkart are popular product distribution networks.
If any company like Mi comes with a new product then they offer exclusive rights to these partners. Amazon takes only 30% of the exclusive offers while Flipkart takes up to 70% of the exclusive offers. In this way the retailers of India always make losses because no one buys these phones on Mobile shops.
Indian people are always trying to get discounts on every product. If a new phone is available at a cheap price over merchant websites then they go through that. So the retailers suffer a huge loss and when this offer ends then they make some money.
Anyone can take the exclusive right of any company all over the world. But you need guts to sell those products easily in the market. Flipkart and Amazon are popular so they can easily sell in India whatever they want to sell.
5 – Economics Of Sale
If you want to sell any product at a cheap price then it is necessary to buy that product at a cheap price. When a product comes in a market then this comes through multiple charges. Many products are directly supplied from company to customer , so the cost ultimately decreases.
Companies like D-mart , Big Bazaar & Walmart , buy products in bulk and try to reduce the cost as much as possible. In this way they buy products at a cheap rate and also sell them at a cheap rate.
Big Bazaar gives huge discounts to their customers during festival celebrations. On this day sales are high so these companies also make huge earnings.
Economics of selling is a business strategy which brings profit in your company. We all know that if we buy products in bulk then the seller also gives us a discount , so ultimately it is a profitable business for both companies and distributors.
If you want to grow your business then you need to understand the requirements of the customers. If you sell what people want then you can create a monopoly in your business.
I am going to share with you an interesting business idea , if you are a shopkeeper and many shops are also there so you need to identify the customers interest , if you are able to analyse this then trust me no one stays with you and you create a monopoly in your business.
6 – High Capital Investment
I know that you all remember the days when JIO came into the telecom market. Before that we are constrained to use Airtel , Vodafone , Idea & TATA DOCOMO at high cost. On that day the internet was so costly and these telecom companies made huge profits from people.
When Mukesh Ambani makes high capital investment in the telecom industry then these companies are completely destroyed. Only a few of them, like Airtel and Vodafone + Idea, survive during this cyclone.
Why Ambani invests 2.50 Lakh Crore in telecom industries ? They know that the Indian people are facing the biggest problem, which is the Internet. Reliance works over that and gives free internet service and free sim cards to Indians during initial days.
When people are attracted and like any service then they make payment. This is what happened with Jio , after 1 month they started getting money from Reliance Jio.
Other telecom industries like Airtel , Vodafone and Idea also understand the huge investment criteria , and they start to give high internet speed and also big discounts over subscriptions. In this way they survived in the market but with less earning.
Today is the year of 2022 , STARLINK founded by Elon Musk is trying to come to India. But our Prime Minister Narendra Modi is not giving permission for the installation of this telecom company. When this company comes to India then people forget JIO , Airtel and other telecom industries.
Starlink comes with special features , it gives the internet over every part of India. It may be in the hills and also areas where yet no internet facility is available. Starlink is also based on a high capital investment business strategy , when it is completely installed in this country then of course Mr. Elon Musk makes huge earnings from this telecom business.
7 – Excellent Customer Service
It is one of the biggest actions that can bring more profit in a company. If any company makes its customers happy then they grow with the J – curve.
You all know about Domino’s Pizza , what crazy customer service they are offering. If you did not get your pizza under 30 minutes then that pizza is free for you. This creates a business monopoly in the pizza business , every dominos competitor fails to do business and also some of them are suffering with huge losses.
India is also a high populated country , so beverages are in high demand. If any business sustains this and they win the trust of people then they can earn a big amount from Indians.
I know that many of you ordered pizza through Dominos , because you feel that once they are late then you get a free pizza. In this way these companies are growing more and they are earning more.
Customers are the revenue source of every company. So if any company provides unique service with good quality of products then they create a monopoly in their business.
8 – Brand Awareness
It is very important that people identify your business with a brand name. If you see Zomato , Swiggy and FoodPanda then they are not similar to the food industry , but if anyone wants to buy food online then they go to Zomato & Swiggy.
The Benefit of brand awareness is that people never forget your products. It is the best way to create customers and also make free promotions for people.
Today it is very easy to make brand awareness through digital marketing. Most of the people are available on the internet , so promote your brand through Social Media Marketing.
Instead of direct promotion of a brand you can promote by video marketing. It is a kind of interest that people like to watch on the internet. You can take example of Amazon Prime Video & Flipkart Ladies & Gentlemen video marketing.
Brand awareness creates more impact on customers rather than the promotion of a product. If you take an example of Epoxy Compound this is recognized by m-seal . So everyone asks m-seal for epoxy compounds with their shopkeepers.
To be one in millions and billions you need to create monopoly in your business. If you make your product with quality and uniqueness then you become unbeatable in the market.
Above business business monopoly ideas might help you to grow in your business and you can also create something new for your customers.
Brand marketing is the property of uniqueness and you can make yourself out of a crowd by promoting your brand. Once the people know your business with the brand then 50% of the competition collapses on that day.
I hope you like these monopoly business ideas. If you feel this article is informative then share this article with your friends and also on social media. Don’t worry, you are sharing quality information with your loved ones , so they appreciate you.If you feel any problem in “How To Create Business Monopoly” then the comment section is for you. So feel free to give me feedback over this article.
If you feel any problem in “How To Create Business Monopoly” then the comment section is for you. So feel free to give me feedback over this article.