A Study on the Role of Banking in the UAE Society

Shine Philip – BBA student

 

The purpose of this study is to understand the reason or the factor that drives the consumers to buy counterfeit sports goods in UAE. To examine and analyze the dependent and independent variables, research hypotheses was framed to carry out the study effectively.  Around 50 samples were gathered for the study and the study was carried out in one of the famous sports retailer Sun & Sand Sports in the UAE. The collected data were put into test using the basic visual software Microsoft Excel to find the relations and arrive to a conclusion about the study. No specific sampling techniques or test was carried on the study, also no special techniques were employed on the study. The main part of the paper is to show that consumer buy counterfeited products are evaluated on the basis of variables like risk associated, price of the original sports goods or equipment and the influence of reference groups which may include friends, family, relatives or any opinion leaders.

Conclusion and Recommendation 

This study examined the factors that impact on the likelihood to purchase counterfeits in the UAE. The study throughout evaluated the data and find that the hypotheses framed was proved to be the right one. 

Subjective norms are a significant factor for the group that is likely to purchase counterfeits indicating that the pressure of significant others is likely to influence purchase of counterfeits. It was found that the most affecting component or variable is the reference group influence among all the other variables. 

The hypothesis of the study was tested and found to be accepted as the criterion of the study.

H1:         Risk factor makes the consumers purchase counterfeit sports good rather opting for the original sports goods 

H2:         Price factor will influence the decision towards the counterfeit products 

H3:         Reference group influence could be the reason behind the purchase of counterfeit products. 

All the 3 hypotheses were proved to be right and from the detailed analysis it was also found that the most important criterion which tend to drive the consumer purchase was the reference group influence. The other two hypotheses also contribute to drive the cognitive thoughts of the consumers in purchasing the counterfeit sports products. 

  

The recommendations based on the study was:

  1. The government should severe the legal policies in the goods flowing in and out of the country. The customs authority should be more prompt and oversee these kinds of illegal activities and try to put a bar on it.
  2. The price of the high-end sports equipment should be sold through some bundles or value-added offering which may attract the consumers and avoid the purchase of this illegal activity.
  3. Provide knowledge to the stakeholders about the genuine product and its features of usage. Also, remember to point out how a fake product look like and how it can deter the economy and bring harm to the consumer.
  4. Boost the laws in UAE against counterfeit sports goods, a stringent policy such as hefty fines should be implemented for the unauthorized selling of these kind of illegal sports goods, both the buyer and seller should be fined.
 

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