Introduction
This marketing research tries to investigate how product authenticity impacts consumers to decision-making. Product authenticity refers to the validity or genuineness of a product being sold in the market. Consumers need to be assured that the product and services that they buy and consume are actually the original and that fears of products being counterfeited are absolutely dispelled (Rafia 2005). When consumers become suspicious about the company’s products, it is obvious that they can change their buying pattern.
Statement of problem
The main problem here is to determine the consumer response from product authenticity. To try to quantify the response and measure its extent in order that it’s harnessed to provide valuable information to the marketers. Marketers need to be aware of the consumers’ reactions to products. If consumers are perceived to be very responsive, then it’s the responsibility of the marketing managers to ensure that any changes in the product are communicated through the most efficient and convenient means possible. (Lack 1995)
The rationale of the study
The purpose of this study is to draw the attention of the public to the product authenticity, its significance and to broaden the scope of marketing research. This is a very interesting area of study in marketing, but many people have ignored it. What inspires me is the uniqueness of the topic. It provides one with knowledge of the consumer’s psychology, what exactly is the reaction of the buyers. In the near future, as the competition becomes stiff, manufactures are devising their product design every now and again. This is to help them maintain their competitive strategy. However, not all producers are creative; there are others whose work is to counterfeit others people’s products and services. When this happens, the market will already be diluted and saturated. This study will therefore help an enterprise to understand the concept of product authenticity and what the public will say about the firm whose products are counterfeits or counterfeited. (Matthew 2003)
Qualitative research. This refers to a field study that tries to obtain a deeper understanding of human behavior and the reasons that control such behavior. Like in this case, we are trying to get a deeper understanding of consumers on product authenticity and how they finally come to decide on whether to buy or not, and what governs their reactions. On the other hand, quantitative research refers to the application of quantitative methods to the field of marketing through analytical market surveys and questionnaires. Quantitative research refers to analyzing the market through the 4ps principle. It’s about a combination of product, people, place, and promotion.. (Matthew 2003)
Qualitative research is therefore important as it provides an analysis of how people react to certain products in certain places and situations, which is linked to their behavior. Quantitative research, therefore, links the behavior to product.(Matthew 2003)
Research questions
- How does product authenticity affect consumer’s decision to buy?
- Is there any relation between product authenticity and the company image?
- Does product authenticity affect demand?
Objectives of the study
- To find out how product authenticity impacts consumers’ decision to buy the product.
- To investigate if there is a relationship between product authenticity and consumers’ decision to buy.
- To find out which products are mostly affected by authenticity
- To investigate whether there is a close link between product authenticity and the company image.
- To find out how product authenticity affects demand.
The expected outcome of this research is likely to be positive. I expect to find more appealing results from the respondents who are mainly consumers. The result will then be tabled before the committee for approval and necessary steps taken to provide the overall direction. (BLACCACADEMY.NET 2009)
Research methodology
We are going to use the following methods:
- Questionnaires
- Interviews
- Readings
- Observation
Questionnaires: these are simply a written set of questions that are expected to guide the respondent. These are questions that are tailored to the specific area of study. They can be opened or closed, providing the researcher with convenience.
Interviews: this is a conversation with the respondent either by word of mouth or through the telephone; it gives an insight into key research terminologies and the specific areas of the study. Interviews are regarded as the most appropriate means of obtaining results since the interviewer does not rely on any secondary material which may be the subject of alteration. (McNamara 2007) Readings: this constitutes making references from the readily available books in the library. References may not be specific to the area of study but may only provide some general idea about the topic.
Observations: This may be used in marketplaces to physically find the reaction of consumers. While it appears reliable in most cases, it’s expensive and limited to people who are physically upright. (McNamara 2007)
Data collection
Data refers to any gathered facts that have not been examined to provide the intended information. There are several ways of collecting data, including:
Tape recording, writing and photographing. In this study, the most reliable way to collect data here is through recording, and that is in writing. The data collected here is raw and mainly primary. All the data received will be put down into writing since we are doing primary research. For this process to be credible, data processing and examination should be thorough. If this is not done, the intended information may be difficult to get, and thus, the whole process may be useless. In any research, data processing forms a crucial component. (NTTER 2009)
Research findings
During the course of our research, we found out the following.
The authenticity of products has a big impact on consumers’ decisions to buy products. Consumers are very responsive to the product brand. If an organization does not protect its product brand, then such an organization risks losing its key customers. It’s important that adequate procedures are put in place to ensure that the products available for sale are actually genuine. (Zachary 2008)
We also found out that the authenticity of the product has a big impact on the company image. Firms that sell counterfeited products are regarded as being unethical by their rivals; if this notion is built into the consumers’ mentality, then the company might lose its image. (Zachary 2008)
We found out that firms protect their product authenticity more so when competition becomes so stiff. The firms which become outperformed react by counterfeiting products of other companies. (Zachary 2008)That authenticity influences the demand for certain products. Counterfeited products lose market as their demand gradually reduces. Genuine products have active and constant demand.
The use of literature
The use of literature has largely influenced the way in which research is conducted in the modern world. While they provide a consistent and penetrative approach to academic and professional research, the oral mechanisms have been considered as being subject to biases. The literature method is less expensive and detailed. (Articlesbase 2007)
Limitations of the study
- The essence of any research is to provide valuable information to the researcher so as to make an appropriate decision on whether to invest or unleash his/her interest. However, this is not always true. The outcome may have been influenced by any factor that is not relevant to the topic of the study. This can give negative feedback.
- The research process is tedious and time-consuming. It requires one to travel making several inquiries. Some respondents may not really co-operate with the interviewer. This may lead to bad reception and hence falsifying the process.
- Some of the methods used in this research may not give a true and fair meaning as are subjected to stereotyping and biasness.
- Most of the research papers done are costly, the personnel involved and research materials are hired. The personnel need to be compensated for effort while the materials need to be replaced. (Articlesbase 2007)
Conclusion
Product authenticity is an important element in the product industry. Firms should ensure that their products are protected from counterfeits, and are easily recognized by their customers without any difficulty. This research is intended to provide guidance to all those who are inspiring to venture into the product market. It can be used by marketing managers to establish to the topic and find its validity.
List of Reference
Rafia,H. Caroline,B 2005, Acceptability and rejection of food traceability. Web.
Lack, T 1995, Consumer society and authenticity.
Matthew, A 2003, Reputation: today’s business-critical asset. Web.
Blaccacademy.net 2009, Factors affecting demand for a product.
McNamara, C 2007, Analyzing, interpreting and reporting basic research result.
NTTER, J 2009, Authentic food company improves speed to market. Web.
Zachary, L 2008, Consumers hungry for authenticity. Web.
Articlesbase 2007, Does the brand equity influence the costumer’s loyalty. Web.