It is obvious nowadays that multi-million organizations are splurging on advertising campaigns and purchasers seem to lean towards the products of giants rather than local ones. Not only does this phenomenon lead to unfairness in the market but the survival of regional companies is also threatened. Supports from the government and changes in consumer behaviour might be a solution to this issue.
To begin with, it is believed that large companies are creating a state of disorder due to their monopoly of products on the market. This consequently creates a downward spiral in which the manipulation of these giants leads to the collapse of local businesses and then to unemployment. For example, the domination of smartphones manufactured by Apple and Samsung in Vietnam recently have resulted in the survival of no indigenous smartphone brands, which means a large amount of money has to be splashed out in order to import these products to fulfil the need of customers. Thus, unfairness is obviously a setback of this trend.
Measures to tackle this issue include the intervention from both government and consumers. In order to avoid any monopoly from giants, the authorities should protect small business by providing them subsidies. In addition, barriers can be put up and special tariffs have to be taken into account to limit the amount of imported products that may corner the market. However, it must be acknowledged that backing from the government is only part of the equation. It is advisable that customers also have to take action. By changing their preferences towards products made by local companies and abiding by the anti-trust laws, purchasers are exercising their social responsibility and to a certain extent, they are playing a part in developing the local economy.
In conclusion, by establishing a marketing and promotion schemes, large organizations are having a tendency to monopolize the market and adversely affect the development of local companies. In order to counteract this trend, not only should laws and taxes be implemented by the government but consumers also have to change their shopping habits in a way that favour homegrown products.
It is obvious nowadays that multi-million organizations are splurging on advertising campaigns and purchasers seem to lean towards the
products
of giants
rather
than
local
ones. Not
only
does this phenomenon lead to unfairness in the
market
but
the survival of regional
companies
is
also
threatened. Supports from the
government
and
changes
in consumer
behaviour
might be a solution to this issue.
To
begin
with, it
is believed
that large
companies
are creating a state of disorder due to their monopoly of
products
on the
market
. This
consequently
creates a downward spiral in which the manipulation of these giants leads to the collapse of
local
businesses and then to unemployment.
For example
, the domination of smartphones manufactured by Apple and Samsung in Vietnam recently have resulted in the survival of no indigenous smartphone brands, which means a large amount of money
has to
be splashed
out in order to import these
products
to fulfil the need of customers.
Thus
, unfairness is
obviously
a setback of this trend.
Measures to tackle this issue include the intervention from both
government
and consumers. In order to avoid any monopoly from giants, the authorities should protect
small
business by providing them subsidies.
In addition
, barriers can
be put
up and special tariffs
have to
be taken
into account to limit the amount of imported
products
that may corner the
market
.
However
, it
must
be acknowledged
that backing from the
government
is
only
part of the equation. It is advisable that customers
also
have to
take action. By changing their preferences towards
products
made by
local
companies
and abiding by the anti-trust laws, purchasers are exercising their social responsibility and to a certain extent, they are playing a part in developing the
local
economy.
In conclusion
, by establishing a marketing and promotion schemes, large organizations are having a tendency to monopolize the
market
and
adversely
affect the development of
local
companies
. In order to counteract this trend, not
only
should laws and taxes
be implemented
by the
government
but
consumers
also
have to
change
their shopping habits in a way that
favour
homegrown
products
.