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

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Today, big
companies
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have been raising their
market
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share by investing more in advertising their
products
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in the
market
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.
As a result
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, they get easy and fast attention of the public and the small local
businesses
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fail to get the potential customers which can lead to various economic problems.
Therefore
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, the government should make some effective laws that tend to support small
scale
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businesses
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so that they can improve their
product
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quality and
market
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. The big ventures have their stores all around the country which makes the customer have easy access to the
products
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of their need. They give good discounts and other offers which attract the middle man too.
Hence
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, they strategize to cover all kinds of consumers and hold most of the
market
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cap. These promotional activities and advertising on social networks give them huge profits without any compromise in the quality of their
product
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. While
on the other hand
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,
this
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globalization of the
market
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has resulted in the collapse of small
scale
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businesses
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owned by local
vendors
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.
For instance
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, many local
vendors
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have lost their livelihood because their
product
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lost its
market
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value.
Instead
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of buying a handcrafted
product
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, people now prefer to buy from big outlets like big bazaars and many more. In order to sustain among the giant
companies
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, the local businessmen should start manufacturing their customized
products
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. They should try to change their sale methods and target the specific needs of the daily customers.
This
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may help them to gain public response. Looking to these problems which were greatly affecting the country’s economy, even the government has started promoting small
businesses
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and started campaigns like made in India which emphasizes converting small business into large
scale
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.
Similarly
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, online selling sites like Amazon and Flipkart should
also
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give the chance to local
vendors
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to publicize their
products
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on the online platform so that they can compete in the
market
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. To conclude, large
companies
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should collaborate with the small
scale
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companies
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and support them so that people start buying the local
products
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also
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and local
vendors
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should focus on their personalized services as
this
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is the only way to sustain and bring back the buyers.
Submitted by thakarkshiteej1997 on

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I really want to study but I’m too tired.

I wore a warm coat because the weather was cold.

If action is not taken soon on climate change, global warming will get worse.

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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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