RE: Big Brands & Start-ups: The Diabolical Disparity
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The points you made in the video reminds me of what happens in the music industry when you see a lot of quality and unknown artists trying to break into the industry and make a name for themselves. Once they get a couple of hit songs and a name that drives traffic, you will start noticing a decline in the quality of music they make because they already believe that they have a huge fanbase who will click at anything they record.
The same thing is applicable in business and it gets a little too much when the business already know that they don't have tight competition in the same industry and in the location where they have their target market. In the absence of this factors, it is never uncommon for businesses to start inflating the price of their products. We also gwt to notice a decline in the quality and sometimes quantity of their products.
You talked about the deterioration in customer service and that's fairly obvious too. Even when customers bring feedback that can help the business thrive, they get completely ignored.
The reason why dangote group of companies is not impacting Nigerians is because of their redundancy in service. This isn't to say dangote is not actually getting richer. The truth is that dangote is getting richer by the day, this is because of the Monopoly they enjoy from the government. Competition creates advancements and innovation in any industry. In Nigeria just like you've mentioned, businesses want to increase the prices of their products without actually choosing to improve. We do not have regulatory agencies, this is why some of the businesses are becoming more terrible when it comes to products and servicing, and having negative impacts on the end-consumer.
Sorry for the late reply