Counterfeit goods are produced
Counterfeit goods are produced, distributed, and consumed at an alarming rate around the world. Counterfeiting is a deliberate attempt to deceive consumers by copying and marketing inferior goods through emulating the style, design, and packaging of more expensive elite brands and offering them at a lower price. (Toklu & Baran, 2017) points out counterfeiting as Big Business, in terms of value, goods worth over $1.7 billion were seized at U.S. borders in 2013. China has been recognized as the world’s most well-known country for fake products where all wellsprings of counterfeits can be followed (Toklu ; Baran, 2017). The industry considered as a booming market and has a big impact in the business sector. Although extensive variety of items can be counterfeited, consumers intentionally take part in acquiring especially branded products and luxury fashion items. (Toklu ; Baran, 2017) indicated that price between the genuine and fake product is a significant motivator for purchaser of counterfeits. Research points out that almost one-third of consumers purchase counterfeit goods by knowing (Toklu ; Baran, 2017). The price advantages of counterfeits may not be the only reason to consume these products. Therefore, other factors underlying this behavior need to be understood.( Albarq.N.Abbas,2015) United Trademark ; Patent Services 4 recently reported that Saudi police raided a number of showrooms and warehouses which had been used for inventory and sales, resulting in the seizure of 55,000 containers of fake ink for Hewlett Packard printers, and more than 5000 fake laptop adapters. Also, in a key move to combat counterfeiting, authorities also confiscated equipment used to manufacture the fake products. According to Saudi law, the following offences are subject to imprisonment for up to one year and fine of between 50,000 and 1 million Saudi Riyals: imitation or forgery of a registered mark that misleads the public; use of another company’s trademark in bad faith; and offering counterfeit products for sale, or possession of such products with the intention of selling them. A victim of counterfeiting may also claim damages, although Saudi courts tend to be conservative and rarely award high damages. The law for repeat offenders provides for more stringent punishments, including closing the business for up to six months and media announcement of the judgment. According to the results of similar research, young people tend to buy counterfeit goods (Kalyoncuoglu & Sahin , 2017) and tend to be more materialistic (Kalyoncuoglu & Sahin , 2017). Therefore the data collection of the present research is selected from the university students born between the years 1992 and 1999.
1.2 Problem Statement:
Counterfeiting of product is a serious threats for market and brands but it still have a strong demand. In addition, for a solution of this I conducted a research on consumer attitude towards counterfeit product and the dependent variable of the research is one (willingness to purchase) and independent variables is four (Perceived risk, Perceived value, Fashion consciousness, Ethical consciousness). Moreover, the target population of for the research is general public such as students, housewives, adults. In addition, On the basis of previous research there are basically two sides in counterfeit practices: Supply side and demand side. While the supply side of producing fake products has gotten impressive consideration in the academic literature, examinations concentrating on the demand side are still rare indicated that price between the genuine and fake product is a significant motivator for purchaser of counterfeits. Research points out that almost one-third of consumers purchase counterfeit goods by knowing .The price advantages of counterfeits may not be the only reason to consume these products. Therefore, other factors underlying this behavior need to be understood (Toklu & Baran, 2017). On the basis of previous research Counterfeit products can result in severe financial and economic impacts on companies and industries (Kamranfard,2018). They can damage original manufacturers in various ways. On the basis of previous research Counterfeit products can have detrimental effects on brands, probably the most valuable assets companies possess. Brands are results of years or even decades of investment, thinking and hard work, and some of them are worth billions of dollar (Kamranfard,2018). On the basis of previous research Counterfeit medicine is more dangerous than the copying of other products, since it poses a risk for public health, which can cause a large number of deaths, as well as financial losses for the manufacturers of the brand names (SHOLY,2015). On the basis of previous research (Kalyoncuoglu1&Sahin2,2017) As brand equity of luxury brands gets stronger over time, brand image and prestige also get powerful. This in turn attracts consumers’ purchasing habits of luxury brands. The counterfeit producers directly get benefit through the brand names without any cost of marketing activities. Wilke ; Zaichkowsky (1999) has called this easy earning destroys the brand equity and company’s reputation. There is a damaging effect on the image of the brand that is built by the original company and also to the industrial competitiveness of the nation as well. The aim of present research is to clarify the results as all research findings is showing different result from each other that’s why I am conducting this research to clarify the result in Pakistan. To determine the attitude of people’s towards counterfeit product.