In the article, The Strategy Accelerator, Alfred Griffioen shares his thoughts on competitive monopoly and how the only way outperform your competitors is through differentiation.
“The question "how to be successful in the market" is among the most relevant for business economics, but only a few researchers and authors have formulated directive rather than descriptive answers. A better direction can be found in basic economy researchers: if you can differentiate yourself from the competitors, you have a sort of monopoly. In a monopoly you can choose your own price and quantity optimum on the demand curve. As soon as you encounter competitors, the power shifts to the customer: the price is set by the market and you can only follow. The only way outperform your competitors is through differentiation.”
I think Griffioen raises some good points and the best way to differentiate is by building a better brand for whoever you serve.