Do Knock-Offs Prove the Value of a Brand?

Overview

Living in the consumer culture that we do, we've learned that specific brands can carry very different meanings and values. We're willing to pay hundreds or thousands more for a specific brand name item, but sometimes it can be tempting to go the way of the knock-off for a fraction of the price. The counterfeit industry is huge and isn't going anywhere, and companies spend huge amounts to dissuade people from buying "fakes".