Is Monopoly a Good Marketing Tactic?

[nomad]

Monopoly means there is just one company or a business selling that product, there are no other companies or businesses selling the same product. When there is a monopoly, it will allow the business to make a lot of money. However, for consumers., there will be no choice and they end up using the same product even when they don't like it or find it pricey. Do you think monopoly is ethical business practice?

 

[Starmix]

I have not observed here in my place monopolised business. That business operator cannot stop other capitalist to operate business the same as his. Also people feel bored unless different brands of stocks or goods displayed.

 

[capri]

I think that monopoly is not necessarily an unethical arrangement, provided that a a business has not employed illegal or unethical strategies to ensure that it has a monopoly position in a market. It may be the case that the situation in a particular market simply favors a monopoly.

 

[Stardom22]

Monopoly is never a great marketing tactics to employ on the business. This is because it can lead to the provision of defective and poor quality goods because of the Lack of competition.