GLOBAL MARKETING Essay Example | Topics and Well Written Essays - 3000 words

GLOBAL MARKETING - Essay Example This strategy employed by the counterfeiters thus happens to populate larger parts of the global market for fashionable and luxury products. However the counterfeiting activities in regards to the fashionable or luxury products are generally divided into two aspects-deceptive and non-deceptive in nature. Deceptive practices of counterfeiting are such where the purchaser is not aware that the product procured is not a branded product, rather counterfeit in nature. Replication is created as such to totally deceit the purchaser. However in the second case the purchaser becomes aware that the product procured are a counterfeit and not a real branded product. Herein the purchaser is rendered clues by the counterfeiter of the luxury or fashionable product in regards to the area from where such commodity is made available for purchasing. Further the quality and pricing standards of the products rendered also help the purchaser in rightly identifying that the products purchased are not genui ne branded ones but rather are counterfeit products (Juggessur and Cohen, 2008, p.390). Counterfeit as a Growing Threat to the Luxury Retail Market Observation made shows that regions like China are turning out as the greatest contributor of counterfeit products in the world. The Chinese economy is found to have become the largest manufacturer and exporter of counterfeit luxury products that are seeking entry into developed markets of the world like United States, United Kingdom, Russia and several other regions pertaining to Europe. Moreover the counterfeit products are also making a foray into several Middle East nations where the demand for luxury products is indeed huge in nature. This large expanse of trade and exports pertaining to the realm of counterfeit products in luxury retail is happening to render an impending threat to the market for genuine luxury products. Market shares for the luxury products are largely being taken over by the rise in counterfeit trade practices. F urther the rise in the level of counterfeit activities largely impacts the brand image of the original luxury brands thereby making the branded manufacturers to increase the level of expenditures pertaining to its marketing and promotion. Thereby the rise in the counterfeit market on a growing scale has made the markets of genuine brands to largely shrink thereby impacting the job markets and also in making the price for the products to increase. The growing threat and impact of counterfeiting practices in regards to luxury and fashionable products can further be observed from some statistics. During 2005, the customs body pertaining to United Kingdom happened to seize a huge package of products out of which around 64 percent was found to be counterfeited. Similarly another statistics revealed during 2003 reflects that a seize made by customs body pertaining to United States contained around 6500 counterfeit products valued to around $94 billion. During the same period the customs b ody pertaining to European Union conducted a huge seize of counterfeit pr