Effect of Counterfeit Products on Luxury Brands

This presentation discusses the effect of counterfeit products on luxury brands, specifically focusing on the case of Louis Vuitton. It explores the negative impact on brand image, sales, and profits, as well as the challenges faced in combating counterfeit products. The presentation also reflects on the experience of conducting the research project and highlights the development of entrepreneurial competency skills.

PROJECT PROPOSAL AND PLAN

Synopsis of project objectives
In this I and my team members undertook a research in which there were many things done. here, our aim
was to find out effect of counterfeit products on luxury brands and potential solutions to improve brand
performance.
This was done to analyse that how those products affect on brand performance. Thus, for that I took Louis
Vuitton. It is because the company is known for its luxury brand and there are various counterfeit products
available in market for it.
Furthermore, here, main purpose of doing this study was to find out how counterfeit product impact on
brand identity.
This topic is really important and need to be discussed as counterfeit products are severely impacting
performance level of company and also brand value of luxury company is also affecting due to it.

Rationale of project
 This topic is really important and need to be discussed as counterfeit products are severely
impacting performance level of Louis Vuitton and also brand value of luxury company is
also affecting. Consumers who are purchasing duplicate products are getting lower quality
goods and services. They are not getting value for money. Counterfeit products have
negative impact on innovation and company’s sales and productivity lowers down because
of it. It also lowers down brand value of Louis Vuitton.

Outcomes
 In this I found that there is negative impact of counterfeit product on brand image of Louis Vuitton.
this is because it people identify those products easily and then buy them.
 Besides that, it results in affecting on sales and profits of brand. It is because customers think that
counterfeit products are available in same price so why to purchase luxury brand product at high price.
 In addition, I found that brand image is hampered as customer thinks that Louis Vuitton is not able to
maintain its product copyright and patent in effective way.

Reflection on your experience
 As this was my first experience of taking this project so I learned a lot of things from it. here, first of
all I was able to gain knowledge about how research project is done, its purpose and what outcomes
are obtained from it.
 In addition, I learned many skills that is both professionally and academically.
 I found that first is we developed aim and objective of study. Then, we developed research question in
it on basis of objectives.
 Thus, it is necessary to make research question so that accordingly study is done and data is gathered.
 Besides that, from research question it is easy to find out why study is done and what answer is going
to be attained.

CONT..
 A proposal in which a short synopsis is there of overall research. hence, I got to know that in proposal
there is a brief description made about literature review, background, research method, etc.
 But we faced difficulty in it as we were not having any idea of it. then, I suggested idea to search it on
internet about format of proposal and then make according to it.
 Besides, when we did actual research, I was given role to gather secondary data about topic. In that I
found it as an interesting and challenging task. It is because I have to collect data from articles,
journals, etc.

CONT..
 Thus, when I started it I got confused as I was not able to analyse data. it means that I did not know
what data is useful and not. So, I communicated it to my team members. They decided to support me
by hiring an expert
 He helped us in all stages of study that is from gathering data to making report. So, from that I learned
that always communicate with others in case of any problem.
 It helps in solving it in effective way. thus, I was easily able to communicate with others. While doing
research there occurred a situation in which we got stuck.
 Here, one of team member was not able to complete tasks in time. Due to that, I was given extra role to
finish it. so, in that case I prepared a schedule and then worked accordingly.
 It was helpful for me to proceed in systematic way and attain my goals. in this way I was able to
manage my time and work properly.

CONT..
 From it I learned to develop my time management skills. Alongside, I also took effective decision as
well in time when my advice was needed.
 Therefore, I got to know about decision making process followed and how it is applied in real life
situation. In similar way I also took decision and which was useful in our project.
 By conducting study, I learned various research skills and knowledge. I got an overview about how
overall research is been conducted and what methods are been used in it.
 Also, I was able to identify different data collection methods and sampling techniques used.
 In data analysis we need to analyse data in proper way so that relevant outcomes are attained and then
on basis of it research question is answered.

CONT..
 But I faced some problems as well in doing research. I found that I lack experience and skills to do
research. Also, I need to gain knowledge about various research methods that are applied and how it
helps in conducting study in proper way.
 There are other things as well which must be considered in using methods. I found that question, type
and nature of study is to be done. this is because it enables in making things easy and getting study
done in proper way.

Development of your entrepreneurial competency skills
 As I was working in team so I got to know about team working skills. I was able to work in team in
effective way and attain my goals and objectives.
 Here, I learned many skills such as leadership, communication, decision making, problem solving,
interpersonal, etc. I learned many competency skills. In this by working in team I learned about team
working.
 I got to know that how to work in team and to attain goals. besides how team working helps in
improving performance.

Continue to develop your personal and organisational
entrepreneurship?
 In order to continue develop my personal and organisational entrepreneurship I will undertake more
research project.
 Also, I will get involved and engaged in various project related to many subjects. With that I will be
able to develop my skills and gain knowledge.
 Now, I will focus on doing large scale study in which I will collect data and info by primary research
as well. for that I will prepare questionnaire and gather data myself.

THANK YOU