Should we focus on Monopolies???

by aceshigh888

Posted: 11 years ago 3 replies

INTERNET MARKETING

Do you think the best approach for an online business is to try and come up with some kind of monopoly, something that no one else is doing??? I'm just finding that in the more popular markets they're just done to death, seems like just way way way too much competition almost??? :confused:

#focus #monopolies

JensSteyaert 11 years ago

It can be done, but the odds of coming up with something so unique you can build a monopoly are stacked against you. I think it's better to choose something that's succesful and give it a twist so you can steal customers from your competitors.
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SunilTanna 11 years ago

Monopoly doesn't mean you are the only one in the Market. It simply means that you dominate the Market.

When microsoft had an operating systems monopoly with windows, there were always plenty of other operating systems that people could choose, but they mostly didn't for various reasons.

On the other hand if there is only one entrant in particular marketplace, it usually means that there isn't much money to be made.
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Sushiman1111 11 years ago

Big markets are big because lots of people want the stuff. A market small enough to monopolize... Well, I'm not saying it couldn't be done (never say ever), but the odds of your finding something that either no one else has thought of or no one else is doing well and is still lucrative are pretty slim.

I do think, though, that niche markets with fair amounts of competition are easier targets than huge markets with high competition rates. I'm in both, to some extent, and make more in the former than the latter. But there should to be some proof that the market is lucrative before you jump in.
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Should we focus on Monopolies???

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