QUESTION
“Harvard Mag Case Study – Can Knockoffs Knock Out Your Business.pdf” and prepare your own response to this case study. Please note that this case study already includes responses from other executives. This is great so that you can get a sense of how REAL executives would respond to the same situation. You may use the same or similar arguments made by these authors, or you can make a new argument on your own.
ANSWER
Can Knockoffs Knock Out your business
The concern of knockoffs in the fashion industry which is discussed in the case is a real threat. With the very example of the copy watch putting the life of Bill in jeopardy we can see that it just not that the knockoffs are an economic threat to companies, but also, they put the lives of the customers in serious problems.
But it has to be understood that it is near impossible to trace the whole chain to stop the copying. Hence the action of Bill as the CEO of the company to spend such a big amount for lawsuits is leading nowhere. First of all, the laws which might be passed stopping counterfeiting will be applicable to a certain country only and the brand being a multinational one, it won’t serve the purpose. Secondly, as the country heads of other countries are rationally thinking about the situation, I feel Bill should have thought in line with them to understand the reality of the economy of the situation, what should be fruitful.
There is really nice perspective which we see where the country head is taking this thing positively to increase the brand awareness of the company among the masses. Though the results of the survey are disheartening, but instead of fighting with the unknown, it would have been better if Bill would have brainstormed along with his team to change the disadvantage into an advantage. It is of no gain to blame the customers as the customer is always looking for value in any product they use. So, if they find more value in a knockoff product at a lesser price, they will go for it. Thus Bill should focus more in increase the value in the Ruffin products for the customers so they don’t go for the copies.
Also this has to be looked into that the regional managers are not in sync with Bill’s point of view. So, if the companies own leaders are not convinced about the lawsuit, how will it bear any fruit? In daily life we see knockoffs of all major brands in the world, and they are coping up. Instead of putting money in lawsuits, that money should have been put into R&D and create more diversity in the product range of Ruffin. Brand extension will strengthen the brand in the foreign territories.
Thus I feel, though knockoffs are a threat to companies, they should invest more in R&D and promotion rather than lawsuits.
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