Article on Challenges in Counterfeit Product in Market

Added on - 28 Dec 2019

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Effect on counterfeit product onvarious elements
Table of Contents1) Motivation behind the purchase of counterfeit products other than price ............................................32) Who all are affected due to counterfeit products and how?...................................................................43) Various challenges companies and countries faced in combating the counterfeit activities.................44) The role of government in combating the issues of counterfeit activities............................................5CONCLUSION..........................................................................................................................................5
IntroductionBranding of a product helps it to sell in the market as per the brand image of the company incustomer's mind. But there is a huge impact on the brand image of the company as well as on therevenue due to involvement of counterfeit products of the brand in the market as counterfeit product arecheap and are easily avilable in the market. This give a big impact on brand. If the brand isinternational then counterfeit product dilute the brand in their market . Customer would never be ableto get a glimps of the quality of orignal product. This article cansist of various other challenges that abrand face due to counterfeit product in the market.1) Motivation behind the purchase of counterfeit products other than price .Counterfeit products are thosse product which are replica of a brand. They are often produced totake the compatative advantage of the main brand in the market .They have fake company logos, brandname on the product which looks just like orignal product. These product have low quality standard ascompare to the orignal product of the company (Stumpf, S.A., Chaudhry, P.E. and Perretta, L., 2011.).These product may include toxic elements like lead this may result in physical as well as mentaldamage to the customer in the form of allergies and various other reactions by using these products.There are two reason that can be considered for a customer to buy that counterfeit product which areQuality of the product:- If the quality of the counterfeit product is reasonable then a customermay pruchase the product . As counterfeit products are of cheap quality but if they have qualityin relevance to value for money them a customer can buy the product. If a customer is unable tofind value for money he will be paying in that counterfeit product then there is very lesschances that a customer will buy that product(Stumpf, S.A., Chaudhry, P.E. and Perretta, L.,2011).Appearance of the product:- A counterfeit product can not be the exact copy of a brand becauseif it is an exact copy then the brand can sue the trader for this they make slight changes in theproduct which is traceable (Michaelidou, N. and Christodoulides, G., 2011Chaudhry, P.E. and
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