Customer Loyalty in Monopoly

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Customer Loyalty > Best Practices > Customer Loyalty in Monopoly

Customer Loyalty in Monopoly
Emmanuel Osafo Gyane, Manager, Ghana, Member
The issues raised are quite relevant for present day businesses in a perfect/competitive market setting. What about if a business is a sort of monopoly? (...) Read more? Sign up for free

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  Customer Loyalty - Monopolies
Rick McPherson, Teacher, United States, Member
  It is irrelevant that a firm is a monopoly in the long term... In our current environment customers get choices sooner or later... Different technologies, other services, or monopolies are busted (think railroads, phone companies). Monopolies without loyalty encourage alternatives to be born, and government to deregulate. And when competition does come, the firm that has not built loyalty will be in a tailspin, with a culture of poor customer service and value that probably cannot be changed. Loyal customers help to maintain the monopoly, if that is what a firm seeks!

  Customer Loyalty - Monopolies
Rajan Mani, Professor, India, Member
  Rick McPerson is absolutely right. The Indian environment in the last two decades with the advent of liberalisation in the economy is replete with such examples of entities who have had their monopoly up-ended virtually overnight. Those who were smart enough to realise or anticipate the change in the customer's value proposition (value = benefits / price) survived. Others have become history.

  Customer Loyalty and Monopoly
Godfred Owusu Jnr, Student (Other), Ghana, Member

  Customer Loyalty in Monopoly
D P BABU, Strategy Consultant, India, Member

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Customer Loyalty
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