Large businesses have big budgets for marketing and promotion and as a result, promotion and as result, people gravitate towards buying their products. What problems does this cause? What can could be done to encourage people to buy local production

Big corporations spend heavily on marketing products to increase their sales, which indirectly impacts smaller businesses.

This

is not at all good for the nation’s economy because there would be a monopoly established, and the majority of the others would run out of business. In

this

essay, there will be a detailed discussion of these problems and the possible solutions. In general, a company that has a revenue of billions of dollars, would most probably have a heavy budget allocated for advertising their product,

therefore

it would gain more popularity, even if there is a better alternative available in the market.

As a result

, small corporations may file for bankruptcy and shut down, leading to a shortage of competition.

However

, not only

the

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does the

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GDP of a country

gets

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impacted but

also

the unemployment rates.

For example

, in case of Jio which is a market leader in the Telecom sector, spends thousands of crores in promoting their cell phone network,

this

has forced corporates, like Airtel, Idea and others, to close down, which has resulted in a loss of approximately 10000 jobs in India. In order to avoid the above problem, primarily the government should take the initiative to motivate the people to buy local produce, by providing the competitors product at a comparatively lower price.

In addition

to

this

, the government should formulate policies in order to avoid monopoly in a few sectors like the Telecommunication industry, the Aerospace sector etc. In order to fight against the dominance of Jio’s internet government started

a

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an

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organization called BSNL , that provided internet to the customers at half the Jio's cost, and ordered that no company could hold more than 45% of the total sim-card industry. In conclusion, with encouragement, implementation of right policies and establishment of non-private institutions we could ensure that there would be no domination, that would support the local institutions to survive.