Obviously, Haidilao's products are different, and the hot pot market is a monopoly competition market. How to obtain excess profits is to maximize product differences.
The difference of Haidilao is mainly reflected in the following aspects: 1) The service quality is among the best in the industry, the waiters are good, and the entertainment while queuing is also good. There are basically no other chain hot pots in the industry. 2) The variety of dishes is also at the upstream level of the industry. As a big hot pot (I say this is relative to a small hot pot like Doulao), there are also many dishes that are only available in small hot pots.
This student is studying micro. Looking at the curve of short-term producers in monopolistic competition market, we can see that in the short term, the curve of monopolistic competition producers is the same as that in monopolistic market, and both have excess profits. However, according to this concept, in the long run, the market will be completely competitive. How to maintain monopoly profits for a long time, we must constantly maintain the differences of our products. Therefore, for Haidilao, it is necessary to continuously improve the quality of service and increase special dishes.
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