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

Globalization has enabled the entry of multinational and large companies into local markets. These establishments possess huge amounts of funds, which they can use for marketing and advertising their products.
This
causes difficulties for local and small
businesses
, which face loss of clientele, shortage of funds, and so on. The government can provide subsidized loans and many more
such
steps can be taken. The number of
customers
who are frequent from small firms is reduced considerably
as a consequence
of companies promoting their goods.
In other words
, small firms can not compete with giant corporations, as they have a strong promotional strategy to help them attract huge numbers of
customers
.
For instance
, microbusinesses struggle to advertise their goods as efficiently as big organizations,
therefore
, causing
customers
to collapse.
Furthermore
, as big
businesses
expand, many small
businesses
find it difficult to stay for long periods. A few solutions are feasible for addressing these problems. One of them is receiving a government
subsidies
Fix the agreement mistake
subsidy
show examples
loan. A subsidised loan will help the business avail funds for marketing, which will make people aware of their products. The owners of small
businesses
are aware of their clientele,
hence
, they can provide incentives or discount their products
accordingly
to the target market.
This
will encourage individuals to purchase their goods.
Such
steps will aid in increasing the sales of small business items.
To conclude
, local and small
businesses
suffer as large corporations lure
customers
with appealing advertisements and
this
can be resolved by the government providing subsidised loans, discounts, incentives,s and so on.
Submitted by panetariyaragini78 on

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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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