Google+ Consumer Psyche: Counterfeit business


Saturday, May 16, 2009

Counterfeit business

Despite the economic slowdown, the sale of counterfeit products is booming. I was at MG Road the other day and saw how much money these people make. Name it and you have it. From pirated movies to fake brands in watches, apparels, mobiles(even 3G iPhone) you can get anything. Counterfeit products serve consumer's wish to own the original without spending so much. This fulfills a void between the desire and resources and hence grows at alarming levels. A good market segment and positioning? and you know what some buyers even give a guarantee with fake websites and registration codes too. Some fake products even work better than originals.

This effects original brand value, evaded taxes, poor perception and cheap tactics. But its a thriving business worth a few thousand crores.This is one area which seems to thrive from the financial crisis.

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