Large businesses have big budgets for marketing and promotion and as a result, people gravitate towards buying their products.What problems does this cause?What could be done to encourage people to buy local products?
It is claimed that big enterprises and international brands allocate a great sum of money into marketing and advertising their products. As a result, they could attract more consumers, hence a rise in profit. This essay is to outline the setbacks of this situation before introducing some viable solutions to this problem.
On the one hand, the shortcomings associated with the preference for commodities widely advertised by big corporations are stark. First, as vivid graphics and celebrity endorsements are ostentatiously woven into pieces of advertisements, consumers are likely to be lured into impulse buying. Consequently, the items that have been replaced would be dispensed with which pose a threat to the environment. Second, thanks to purchasers’ predilection for their well-publicized goods, large companies can gain a monopoly over local entities. As a result, such small and medium-size enterprises might be driven into bankruptcy, leaving thousands of workers unemployed.
On the other hand, I believe that there are some feasible measures to promote products from small businesses. Firstly, government should levy heftier taxes upon goods from illustrious brands in order to flag consumers’ interest and direct their attention to products manufactured by smaller businesses. A prime example is that the prices of imported cars in Vietnam are more exorbitant than those of their counterparts in other ASEAN countries. Meanwhile, Vinfast, a domestic car manufacturer, has been given ample opportunities for its development, therefore this novel brand name has raised public awareness and made handsome profits. Tax administration aside, local authorities ought to mount periodical campaigns such as providing local businesses with marketing smash courses. Such solutions will help businesses advertise their products in a more effective way as the staff is well-equipped with marketing expertise, hence a boost in earnings.
In conclusion, the dominance of well-advertised goods from global corporations would give rise to the closure of small and local entities and compulsive buying, and I believe that taxation and free marketing training are feasible solutions to it.