Hello, greetings and prosperous new wishes to all my fellow steemians in this community, it has been a while i posted in this community due to some personal issues and challenges that held me back which i pray it should repeat it self again, by the way today I'm going to take part in this amazing contest titled; "Local or International Market? Which do you Prefer?" Organized by @lhorgic here in #Nature&Agriculture.
Before proceeding to the contest hints and questions i will like to briefly share the meaning of market as stated in the contest theme, which actually means a place where buyers and sellers come together for the purpose of exchanging goods and services.
In your opinion, what do you understand by the Local and international market
As we have all known that market is place where buyers and sellers meet to exchange goods and services, so it time to also know the difference and definition of Local and International market which i will briefly state it down below.
Local market
Local market can be seen as those small and vibrant markets filled with some local products such as fresh farm produce, handmade crafts, local delicacies and perishable goods of daily use since the transportation aspect of such goods can be costly and the distance to the international market is far, this type of market is usually located at local region and community area which is more closer to the farmers than that of international market.
International market
This is a global market where there are so many buyers and sellers of homogeneous products meet, is the process of marketing your products or services outside of your usually environment or country, in this type of market buyers and sellers come from both far and near to buy and sell their goods and services.
Which do you prefer and why?
If choice would be made between Local and International market i myself definitely consider international market over local market in many ways such as,
- International markets generates income and revenue faster than local market in such a way that goods and services are well valued and sold in a good prize unlike local market where farmers sell their goods on cheap rates because almost everybody there involves in farming and the buyers are few in number.
- In international markets different goods and services can be found there at anytime given because there are a lot of sellers who have invested a lot in the business unlike local where some goods can not be seen there and even the local goods have season of production.
- International market gives and offers more opportunities to earn a living more than local market because in international market goods are transported from one place to another which gives some people the opportunity to make money through those aspect of transportation like vehicle drivers, wheelbarrow pusher, off loader of goods, etc who earns their living through this process.
- International market also known as global marketing can easily open the doors to massive growth opportunities and brand recognition on an international scale as well as bringing nations together unlike local market that is located in local region.
- International market brings about foreign exchange as well as access to export financing.
Can you share some of the challenges associated with the other market you didn't choose as your preferred market.
lack of essential and luxury goods and services such as cars, jewelry, clothes and more that many people loves and cherish alot is the challenges in local market as well as lack of good roads which most times discouraged buyers coming from far distance to purchase goods from local markets also goods and resources are not well valued and priced in local market because buyers are few and most people there involves in farming and they are mostly known for the production and market of perishable goods and local products.
I have come to the end of this amazing contest, Let's me start by appreciating the leadership of this community for the privilege given to share our views and opinions concerning this contest, also i will be inviting my steemians friends @josepha @mercybliss @anthony002 to participate in this contest.