We get aggravated when we see people or companies blatantly milking a market because of a monopoly or some other factor / imbalance in Porter’s Five Forces. Today was one of those days that I observed it.
In our case, it was an outdated hotel connected to a waterpark. The place knew it could skimp on food and genuine care because it had limited competition and the clientele would come back any ways. The decor was dated, the food was recycled and staff couldn’t be bothered.
Even we hold a monopoly, we shouldn’t assume it will last forever and instead do something to will ensure the markets will continue.