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

#companies #budgets #promotion #people #gravitate #products
The marketing and advertising budgets of multinational companies and brands are large. Small local
businesses
 may not reach potential clients because
people
 are lured by the advertising strategy of the large
businesses
 and end up purchasing their
products
. There can be dire consequences,
such
 as the closure of local
businesses
, unemployment, or a monopoly in the market. It is possible to steer
people
 toward buying local
products
 by taking a few steps mentioned in the following essay. Many global companies now operate in small towns and villages. They are able to attract buyers easily because they offer steep discounts on most
products
. In most cases, small local
businesses
, usually independently owned, have little economic power to defend themselves against big corporations that invest massive sums in marketing and promotion. It is inevitable that these firms would eventually suffer heavy losses in the market and
finally
 be wiped out.
For instance
, in most cities, many local artisans have lost their livelihoods due to the lack of buyers. Now consumers would rather purchase factory-made goods that look more appealing
instead
 of handcrafted goods. The purchasing power of local communities will decrease as local
people
 lose their source of income. It is essential to take measures to encourage
people
 to buy local
products
. Storeowners should be urged to stock local
products
 alongside branded
products
.
Also
, banks and governments need to financially support local manufacturers to advance the economy of a country.
However
, local traders know their customers better than multinational giants, so they can come up with discounts and incentives that others can’t. In
this
 way, they will be able to identify exactly what their target market needs and tailor their
products
accordingly
 to increase sales. In conclusion, the local business sector suffers the most when international companies entice local customers with great discounts. By offering customers customized solutions, local business
people
 can overcome
this
 threat.
Submitted by amyheo92 on

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  • for example
  • for instance
  • to illustrate this
  • to give a clear example
  • such as
  • namely
  • to illustrate
  • take, for example

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