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

Huge amounts of investments and capital in
businesses
mostly result in effective marketing strategies and benefits and conquer a big portion of a
market
.
Such
a phenomenon leads to untoward consequences.
This
essay will outline the negative effects of these giant
businesses
and will suggest possible solutions to make people support local producers.
To begin
with, due to big marketing campaigns big
companies
have extremely high sales and win the largest portions of the
market
, which leads to losses for other players in the
market
. Not profitable trade eventually would have no choice but shut down and leave a big number of workers unemployed, losing their source of income. Another solid problem which consumers might face because of
this
phenomenon is that
such
a monopolistic business
market
will provide opportunities for these huge manufacturers to set unreasonably high prices on goods since there are no other competitors. Having only big
businesses
, obviously, is not advantageous for societies. To alleviate
such
difficult situations, a few solutions can be suggested.
First
, governments may force big corporations to close their
businesses
for a few days a month to allow small manufacturers to make their profit and survive together. It would make consumers use local services and help these small
businesses
. Korean big grocery chain Emart,
for instance
, is closed twice a month, so local grocery shops may make their sales on those days. One more thing that government may do is support these small
companies
by cutting their taxes, which will definitely encourage them not to give up on their work. In conclusion, sharing the
market
between small and giant
companies
will be always a hot issue for many nations' economies and their governments.
This
essay demonstrated that supporting only big
businesses
might lead to unemployment of numerous employers and a monopolistic
market
,
however
forcing these big corporations to close their business for a few days a month and cutting taxes on small
companies
will ease
this
problematic situation.
Submitted by assanovn on

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Essentional vocabulary list for IELTS Writing 7+

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Topic Vocabulary:
  • Market Domination
  • Economic Imbalance
  • Cultural Erosion
  • Quality Concerns
  • Unemployment
  • Environmental Impact
  • Local Communities
  • Carbon Emissions
  • Consumer Spending
  • Competitive Prices
  • Promotional Campaigns
  • Cultural Diversity
  • Economic Footprints
  • Economic Ecosystem
  • Small-to-Medium Enterprises (SMEs)
  • Sustainability
  • Local Economy
  • Community Engagement
  • Transparency
  • Corporate Social Responsibility (CSR)
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