Counterfeit Luxury Brands and High-Status Consumers - Assignment Example

This self-perception about parallel status and the driving motivate often leads to a positive impact on the purchasing power of such consumers. Thus the willingness to buy counterfeit luxury brands cannot be denied. It is both strong and self-conscious In other words the consumer's perception of the counterfeit luxury brands as status determining phenomena cannot be ruled out. As a result, their attitude towards purchasing counterfeit luxury brands is determined by a self-perception of high status with those who are able to afford genuine luxury brands.

Thus the consumers' income and the occupational status are positively associated with the status purchasing behavior. Higher status consumption perspective affects consumer's purchasing decisions positively. However, Giffen goods and inferior goods might not be interpreted as an effect in the consumer choices under this construct because such consumers with a willingness to purchase counterfeit luxury brands think only of the potential social status and not the genuine economic welfare associated with the good.

As a result, those consumers tend to identify themselves with status determined welfare in relation to what can be regarded as a luxury brand irrespective of the underline quality determinant.