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How serious is product counterfeit to popular global brands and discuss FOUR measures deployed to combat...

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How serious is product counterfeit to popular global brands and discuss FOUR measures deployed to combat...

by Chief of LearnyVerse
(321k points)
in Economics
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How serious is product counterfeit to popular global brands and discuss FOUR measures deployed to combat counterfeiting. list in bullet points

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by Chief of LearnyVerse
(321k points)
0 votes

Product counterfeiting is the manufacturing of the replicas of the products of various brands where the product is local manufactured but it is given the brand tag to attract more demand towards the same under low pricing conditions. These illegal acts have the following effects on the brand names:

  1. Low sales
  2. Low reputation
  3. High cost of production
  4. More insecurity
  5. Fraudulant guarantee claims

Measure taken for such acts are:

  1. Stricter enforcement of IP laws
  2. Campaigns under the tag 'I BUY REAL'
  3. More regulating norms by the Government
  4. Anti-counterfeiting and piracy laws to come into effect.

Such awareness campaigns and consumer protection laws must all together make people aware of what is real and worth using.


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