FROM PYRAMIDS TO PRODUCTS: A DEEP DIVE INTO EGYPTIAN CONSUMER BEHAVIOR WITH COUNTERFEIT AND GENERIC CHOICES

Authors: Ahmed Mahmoud Hassan, Omar Abdelrahman Saleh

Published: March 2024

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Abstract

<p><strong>: </strong>The prevalence of counterfeit products in various markets, particularly in developing nations, has become a pervasive issue. To comprehend the existence of counterfeit markets, it is imperative to discern the distinction between generic products and brand-name items. While products cater to the functional needs of households within a specific category, brands are essentially co-created by consumers. The allure of brands lies in the assurance of quality and safety, acting as a risk mitigation strategy for consumers. Moreover, the emotional resonance, self-esteem, and perceived perfection associated with brands make them desirable beyond mere functional utility (Bearden, Netemeyer, &amp; Teel, 1989). This abstract delves into the consumer-centric perspective, highlighting that brands cater to the wants rather than the needs of consumers. This preference for brands is a key driver behind the ability of brand owners to command significantly higher prices, often surpassing the production costs. Such pricing strategies, although advantageous for brand owners, can pose challenges for middle- and low-income households, limiting their access to prestigious brand attributes. The result is a socioeconomic disparity in the consumption of products adorned with coveted brand names, prompting a closer examination of the implications of brand-centric pricing. The ability of brand owners to set prices above production costs is strategic, contributing to the creation and maintenance of perceived value for their products (Poppick, Moyer, &amp; Stein, 2017). This abstract underscores the significance of these pricing strategies in shaping consumer behavior and influencing market dynamics. The intentional elevation of prices for brand-name products not only contributes to exclusivity but also raises questions about the ethical dimensions of such practices, particularly concerning equitable consumer access. In conclusion, this abstract provides insights into the dynamics of counterfeit markets, emphasizing the pivotal role of brand appeal in consumer preferences. It unravels the intricate relationship between brands, consumer desires, and pricing strategies, shedding light on the challenges faced by certain socioeconomic segments in accessing products laden with brand prestige</p>

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