It is absolutely true that there is a huge difference in the budget of large business and local business for promoting and marketing their business as a result many peoples are attracted to buying branded products rather than the local product. If people keep on buying branded clothes it will cause serious problems for the local business holder. Large companies have large funding for the product to introduce in the market due to which people end up buying their product and local businessman, on the other hand, do not have that much amount for the promotion even though their product is of good quality and worth for the price. Such a thing causes the local a huge loss and creates a disbalance in the local market. The large chocolate factory 'Milka' has a huge budget for the promotion of their product due to which people buy their products while on other there are many local shops which have the same chocolate with same quality along with less price. To overcome this problem various measures can be done in order to maintain the balance in the market. The government should fund the local business for the advertisement for the local products. Along with this government can also help the local business by reducing the taxes and also encouraging the public to buy the local items. In addition to this, various social media influencers can also promote the local business by asking people to buy local products and be vocal for the local. To conclude, there are many causes which can lead the problems to the local business but we can overcome this problem by various means to promote the local business.
It is
absolutely
true that there is a huge difference in the budget of
large
business
and
local
business
for promoting and marketing their
business
as a result
many
peoples
are attracted
to buying branded
products
rather
than the
local
product
. If
people
keep
on buying branded clothes it will cause serious
problems
for the
local
business
holder.
Large
companies
have
large
funding for the
product
to introduce in the market due to which
people
end
up buying their
product
and
local
businessman,
on the other hand
, do not have that much amount for the promotion
even though
their
product
is of
good
quality and worth for the price. Such a thing causes the
local
a huge loss and creates a
disbalance
in the
local
market. The
large
chocolate factory '
Milka
' has a huge budget for the promotion of their
product
due to which
people
buy
their
products
while on other there are
many
local
shops which have the same chocolate with same quality along with less price. To overcome this
problem
various measures can
be done
in order to maintain the balance in the market. The
government
should fund the
local
business
for the advertisement for the
local
products
. Along with this
government
can
also
help
the
local
business
by reducing the taxes and
also
encouraging the public to
buy
the
local
items.
In addition
to this, various social media influencers can
also
promote the
local
business
by asking
people
to
buy
local
products
and be vocal for the
local
.
To conclude
, there are
many
causes which can lead the
problems
to the
local
business
but
we can overcome this
problem
by various means to promote the
local
business
.