Reference no: EM13940181

Introduction "Counterfeiting is said to be the crime of the 21st century." (Cademan, A & Henriksson, R & Nyqvist, V. (2012). The luxury brand market is highly associated with counterfeit goods with counterfeiters attempting to replicate many big name designer brands for example Chanel, Prada, Gucci which are all very exclusive. With the existence of counterfeit luxury brands, it makes it possible for all to be able to wear and replicate the symbolic values that these exclusive brands represent, and all for a cheaper price. This goes directly against what these brands represent which is to create exclusivity to customers by keeping distribution low and prices high. Purpose of Study The purpose of this study is to create a better understanding into whether counterfeit goods decrease the desirability within consumers towards genuine luxury brands and whether counterfeit goods destroy the image of genuine luxury items making them less desirable. This will be answered through a number of mini questions that will aim to answer the research question. The questions are as followed: Do counterfeit luxury goods reduce demand in genuine luxury products? Do counterfeit products lower brand equity? Is the perceived status of luxury brands affected by counterfeit goods?