In addition, Sonata has also launched a national consumer awareness campaign driven through a poster campaign that informs consumers about the guidelines to be followed while purchasing a genuine brand watch.
The ugly fall out of the thriving counterfeit business is the fact that apart from the huge revenue loss that the government faces, there are other problems that a reputed brand faces, viz. erosion of its brand value/proposition, creation of an uneven playing field, choked R&D efforts, inhibited cost efficiencies that ultimately limit choices and create a poor image for the industry as well as brands.
This has a direct and significant impact on the topline of the organized watch industry which consequently then leads to a substantial loss to the Indian exchequer due to excise and tax evasion.
Also, it goes without saying that the consumers face the greatest brunt of the problem since they are the ultimate losers, because they are forced to buy a product that is of a lower standard/grade.
The consumer suffers with a poor quality product, which has limited longevity thereby leading to further losses for the consumer in the long run. In simple terms, he has been cheated.
marketing@alchempro.com
