Large businesses have big budgets for marketing and promotion and, as a result, people gravitate towards buying their products. What problems does this cause? What could be done to encourage people to buy local products?

Nowadays, large companies which are mostly multinationals, have dedicated large budgets for their marketing expenditures.
As a result
, the marketing activities conducted by
such
firms eventually attract the potential buyers leaving local
business
mostly empty handed. In
this
essay, I will not only illustrate the perils of
this
scenario to the society, but
also
the possible solutions and strategies to inspire folks to buy their homeland products.
To begin
with, whenever citizens of any country start buying imported products from large multinational companies, it will result in an outflow of foreign exchange and depletion of foreign reserves, which eventually causes a deficit in the balance of trade to elevate and national currency to devalue.
Furthermore
, extensive marketing and promotions usually exaggerated the value of any commodity and people are somewhat compelled to buy them unnecessarily. According to a study, 80% of the people who default on their credit cards mentioned that they have developed a habit of buying expensive items from large companies which consumes all of their lifelong savings.
On the other hand
, in order to boost up local
business
sale, campaigns should be launched to encourage people to buy locally produced goods. People should be made aware of the fact that they are actually helping their country and society at large. To exemplify, if people start buying local products, it will help local
business
to grow, which will create multiple job opportunities in the society.
In addition
to that, government should promote local
business
by providing them subsidies financing options and
also
restrict large companies to influence the consumer behaviour by establishing SOP’s. To recapitulate, it is essential to buy maximum possible products from local vendors so that not only they become stronger but
also
our country becomes stronger economically in the world.

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    • Sentence 3 - Thesis
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
    • Sentence 3 - Discussion
    • Sentence 4 - Conclusion
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    • Sentence 1 - Topic sentence
    • Sentence 2 - Example
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Topic Vocabulary:
  • over-reliance
  • disrupts
  • entrepreneurship
  • economic diversity
  • monopolistic
  • financial power
  • homogenization
  • awareness campaigns
  • tax incentives
  • sustainability
  • artisan
  • eco-friendly
  • dominate
  • innovation
  • stifle
  • richness
  • cultures
  • traditions
  • highlighting
  • distinguish
  • superior
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