+ 44 20 8144 3706Introduction:
Present research study is carried out on counterfeit products and their impact on luxury fashion brand companies operating in India. It is seen from few years in India that counterfeit product use becomes common among people. Many firms claim that availability of the counterfeit product is the main reason behind decline in revenue in their business. There are number of reasons due to which people buy counterfeit products like they believe in show off in the society and do not have high income due to which they cannot buy luxury fashion brand products. Changes that are taking place at fast pace in the fashion industry and change in people taste may be another reason behind decline in sales of luxury brands in India. Thus, it is necessary to identify that do really counterfeit products are affecting luxury brand revenue in India or it is just assumption or excuse. In the present research study attempt is made to identify the reasons or factors that motivate individual to buy counterfeit products and impact it have on company revenue. In this regard appropriate tool and techniques will be used to conduct research study.
Rationale:
It was necessary to conduct this research study because many luxury fashion brands claimed that counterfeit products in the market are main reason behind decline in company revenue. In year 2016 counterfeit goods valued at USD 509 billion worldwide. In India counterfeit products cause over 1 lakh crore of loss annually to the branded companies. In EU nations counterfeit products represent 6.8% of imports and in non EU nations it covers 5% of total imports. Thus, it is necessary to identify whether assumption made by the firms or their belief is accurate. Whether counterfeit products in market lead to sharp decline in company revenue or are there is other reason behind low earning in the business. If counterfeit product is main reason behind decline in revenue then what are the factors that motivate individual to buy counterfeit products?
Research aim:
To find out factors motivating youngsters to buy counterfeit of luxury fashion brand and its impact of Love Moschino revenue by doing thematic analysis approach and identifying actions firm must take to reduce its impact on revenue.
Research question
What impact availability of counterfeit luxury fashion is having on the consumer behavior of the people and sort of steps can be taken to elevate revenue?
Objectives:
• To do an extensive literature review and by analyzing relevant research studies identify people’s perception about use of counterfeit products and its impact on company revenue.
• To identify factors motivating people to buy counterfeit luxury fashion products by using thematic analysis approach.
• To identify people perception about impact of demand of counterfeit products on Love Moschino revenue by using thematic analysis approach.
• To form recommendation based on research study which will indicate course of action firm must follow to reduce demand of counterfeit products in the market and increase revenue.
Limitation:
Small sample size is taken and it is a major limitation of the research. However, it will be ensured that those who have good knowledge in respect to research topic are only taken as sample units in the present research (Mitchell, Close, and Li, 2016. By doing so it will be ascertained that data gathered during research process are completely reliable.
Reference:
Books and journals:
Abdullah, Q.A. and Yu, J., 2019. Attitudes and Purchase Intention towards Counterfeiting Luxurious Fashion Products among Yemeni Students in China. American Journal of Economics. 9(2). pp.53-64.
André, L.R., THEBAULT, M. and ROY, Y., 2019. Do product category and consumers’ motivations profiles matter regarding counterfeiting? Journal of Product and Brand Management, May 2019. Journal of Product and Brand Management.
Bajwa, S. and Singh, S., 2019. DEMOGRAPHIC CHARACTERISTICS AND CONSUMER PURCHASE BEHAVIOUR TOWARDS COUNTERFEIT COSMETIC BRANDS. PIMT. p.83.
Bian, X. and Veloutsou, C., 2017. Consumers’ attitudes regarding non-deceptive counterfeit brands in the UK and China. In Advances in Chinese Brand Management (pp. 331-350). Palgrave Macmillan, London.
Bian, X., Haque, S. and Smith, A., 2015. Social power, product conspicuousness, and the demand for luxury brand counterfeit products. British Journal of Social Psychology. 54(1). pp.37-54.
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