15 reasons why people buy counterfeit product:
1) Counterfeit products are much cheaper than original genuine products.
2) Has greater potential for innovation.
3) Very easily available.
4) People who can’t afford to buy original genuine products may buy counterfeit products to fit in society and gain status due to societal or even peer pressure.
5) Many times, people, when buying gifts for others would prefer to rather buy counterfeit products as it is cheaper and much easier than buying the original genuine products.
6) Most people don’t think that the original products or brands are actually worth their retail price. Due to the huge mark up and other costs that are not related to the customers, original products tend to lose value or its worth in the eyes of the customer.
7) Buying counterfeit products if one cannot afford them enhances personal self esteem.
8) Due to counterfeit products being cheaper, people can buy them in large quantities, thus reducing the number of times of repetitive purchase.
9) Middle class or lower class workers can afford and are willing to buy these counterfeit products as it provides them with confidence and pride and make them feel more important in society as it is very difficult to differentiate from the original product. Also, it allows access for them to have some sort of luxury in their life.
10) People get embarrassed if they cannot afford to purchase the original product from the high end stores and so they chose to go buy the counterfeit product instead.
11) Peoples wants are unlimited, however resources are scarce. Thus, people tend to try to buy as much as they can for as little as possible.
12) People are ignorant about how much of a difference is there between counterfeit products and ...