Literature Review On Luxury Brand
1.2 Literature review
Luxury goods
Luxury goods are the high quality, high price and unique features of the products. Luxury products are used to identify the social status and prestige of person. It can display the level of wealth and power of a person (Bearden and Etzel). In addition, the term of Brand is the image in the minds of consumers (Esch 2010, p. 22), which are designed by luxury brand corporations to identify their goods or services (Kotler et al. 2009, p. 425).
Counterfeit Products
A term of counterfeit is a symbol which is indistinguishable from a registered brand name (The Lanham Act, Section 1127). A good counterfeit is the substitution of luxury good. It cans provides social status and face saving, it can shows a personal
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(Yi Qian, 2009) For example, some companies invested in product attributes that are difficult to copy such raw materials, technology, and attractive appearance. This will lead to a better customer loyalty to the luxury brand. It is believed that the poor quality of counterfeits will adversely affect the perceived quality of luxury. However, the quality of luxury counterfeiting is improving in recent year. Some counterfeits even claimed that they had same quality, same design and even better durability. Therefore, it is suspected that the improving quality of counterfeits will have a negative impact on the real luxury …show more content…
Consumer who focuses on price criteria but not quality of products would not purchase luxury goods when the price of counterfeit product is cheaper than original one.
However, many studies found that monetary deliberations and affordability are one of the factors to affect purchase intention. Hence, no matter whether the consumers become attentive of the product as expensive or low-priced, the affordability of consumers’ financial situation will affect their purchase behavior.
Level of availability of luxury counterfeits
The level of availability of luxury counterfeits refer the number of channel that people can buy luxury counterfeits. In China, it has number of channels to access luxury counterfeits. For example, Lo Wu Commercial City, a shopping mall which well known for its counterfeit goods. It is estimated that the market value of luxury counterfeits sold in Lo Wu Commercial City was about US$811,689 (Southern Metropolis Daily,
Terror's Discourse Strings Analysis
242 Words | 1 PagesIn her New York editorial Terror’s Purse Strings, Dana Thomas speaks on luxury items that are counterfeited and how they correlate to various issues around the world. Demonstrating quantitive evidence with a variety of statistics to raise awareness of the dangerous acts that are so closely related with forged components. Dana Thomas does not shy away from the real problems that are presented when expressing the research that she conducted in order to inform the reader accurately. For Dana Thomas’ debate she went all the way to Guangzhou and accompanied Chinese police officers to a factory that was an active participant in child labor.
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Loreal Pestel Analysis
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