1. Explain the effect of counterfeit goods and black markets on international product strategies. 2. Describe what counterfeit goods are and how companies protect their intellectual property and...

Running Head: INTERNATIONAL BUSINESS                        1
INTERNATIONAL BUSINESS                                2
INTERNATIONAL BUSINESS

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1.
As examined by Wiedmann, Hennigs and Klarmann (2017), it is stated that counterfeit products are substandard products and exactly copied products that use a company's trademark for purposes of deception and fraud without your consent. There are many ways, in which businesses can address the counterfeit threat, such as educating consumers
2.
Perhaps the main reason people buy fake products is because, they are generally cheaper than real, genuine products. People also buy them with the motive of misleading others by telling them that they have authentic products to add to their social worth. Fake products, so there are fake markets.
3.
This is...