You should spend about 40 minutes on this task.
Large businesses have big budgets for marketing and promotion and as a result, people gravitate towards buying their products.
What problem does this cause?
What could be done to encourage people to buy local products?
Give reasons for your answer and include any relevant examples from your own knowledge or experience.
Write at least 250 words.
It is common to see that large –scale businesses are spending huge amounts of money in promoting their products aiming at persuading a larger population in buying their products. This generally makes the local businesses lose their grip in the market. Ground level actions are recommended to tackle this issue, which are most likely to be successful.
Turning to the problems when the expansion of large businesses occurs, the most tangible is the collapse of the local businesses. It is evident that when huge business entities have exorbitant investments in the marketing and promotion of products, the local ones, which are generally independently owned, usually do not have that much economic might to defend them. Soon or later these firms would suffer heavy loss in the market, and eventually be wiped out.
Another issue is the concentration of wealth in the hands of a few. Large scale businesses are generally run by corporates and business tycoons, and their main motive is to extract the wealth in the society and consolidate to their possession. Ultimately, this results in a wider polarization between the rich and the poor, which might cause both social and economic crises.
Even if it is a herculean task to magnetize the customers towards the locally-made products, if efforts are initiated from the root level, that is from individual customers, to strengthen the local economy by nearly balancing the purchase with the production of the locality, the issue can be looked upon with confidence. However, it does not mean one should boycott the products of big enterprises.
To conclude, when large scale businesses promote themselves, the loss naturally goes to the indigenous produces. Even though it is a challenge to fight with their economic might, if root level vigilance is intact, local businesses can co-exist.
Word count: 297