Executive Summary: The Devil Continues to Wear Counterfeit Prada

Topics: Luxury good, Branding, China Pages: 5 (1414 words) Published: October 25, 2015
Executive summary of “Devil continues to wear ‘counterfeit’ Prada: a tale of two cities” Article Options and Tools
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, (2015) "Executive summary of “Devil continues to wear ‘counterfeit’ Prada: a tale of two cities”", Journal of Consumer Marketing, Vol. 32 Iss: 3 DOI
http://dx.doi.org/10.1108/JCM-05-2015-031
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Emerald Group Publishing Limited
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Executive summary of “Devil continues to wear ‘counterfeit’ Prada: a tale of two cities” Section:ChooseTop of pageExecutive summary of “Dev... sold for a sizeable profit. Demand for counterfeit luxury brands is considerable both in Taiwan and Mainland China. The market is especially lucrative in Taiwan, where Chinese consumers see counterfeits as a viable means of embracing the latest fashions and trends. A similar picture is emerging among consumers in Mainland China. Status is highly valued there, and consumption is seen as a way to increase “face”. Foreign organizations have become hesitant about entering the Chinese market due to the counterfeiting problem. Research indicates that China is responsible for the biggest supply of counterfeit items. Poor morality and the absence of regulations and penalties are cited as reasons why counterfeiting has become a considerable problem in developing nations. Original brands are swiftly targeted, and protecting brand equity often involves high legal costs. Globally, however, various bodies have emerged to address the increased threat posed by the growth in counterfeiting across the past three decades. Response to counterfeits by consumers from Mainland China has been the topic of much research attention. Corresponding studies into the attitudes and behaviors of their counterparts in Taiwan are much scarcer. This is despite the probability that these consumers will be more familiar with luxury brands. In addition, Taiwanese consumers are proposed to have adopted a more westernized approach toward their consumption. Phau et al. consequently believe that greater understanding of the respective attitudes and behavioral intentions of “China Chinese” and “Taiwan Chinese” consumers is needed. They note the potential variations among Chinese consumers in different regions and acknowledge that China’s identity is still evolving in the wake of the rapid economic development the country has experienced in recent times. The present study focuses on people who intentionally seek to purchase counterfeit luxury goods. This would usually entail preference for renowned brand names that convey meaning to the consumer. Some studies have found that preference for counterfeits is driven by the opportunity to obtain products which offer similar visual...
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