Brand management solutions in the wake of counterfeits

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Brand management refers to the application of various marketing techniques to increase customer's perception of a product, product line, value and services leading to increase in franchise and brand ...

Brand management refers to the application of various marketing techniques to increase customer's perception of a product, product line, value and services leading to increase in franchise and brand reputation.

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Brand management solutions in the wake of counterfeits Brand management solutions in the wake of counterfeits Document Transcript

  • Brand Management Solutions in the Wake of CounterfeitsNo brand climbs the success ladder overnight. The success of every brand lies in the operational andmarketing strategies of the enterprises. It is the cumulative result of years of hard work put in bytheir product development teams, marketing professionals and their customer centric service thathelp them build a strong customer relationship. With so much of effort going into making of a brand,enterprises need to have adequate brand management processes in place to protect the same.Results of a survey conducted by Vancouver-based consultancy shows that buying decisions of 72% ofconsumers’ are influenced by the brand reputation and brand names and nearly 80 percent ofemployees prefer working for reputed brands at the cost of less pay packet. Brand becomes a markof distinction for the business and a promise to the customers.Brand management refers to the application of various marketing techniques to increase customersperception of a product, product line, value and services leading to increase in franchise and brandreputation.Effective brand management will include steps to protect the brand from counterfeiting and legalactions against trademark usage. The counterfeit products market thrives with availability ofcustomers to buy products at bargain offers. Further with the internet and e-commerce everyenterprise tries for a web footing providing more scope for the counterfeits. Thus in todays technosavvy world counterfeiting has evolved as one of the fast growing and far-reaching crimes effectingindustry verticals.Being the lifeline of business, technology giants are working on innovative techniques to helpenterprises with effective solutions for protecting and managing the brand from counterfeiting,Phishing, false advertising and movement of website traffic to fraudulent sites. Further, to combat
  • high operational overheads, global enterprises make use of lower cost regions of manufacturing theirproducts and components. Such outsourcing of the production lines to low cost regions putsprotection of intellectual properties at stake.With the widely spread counterfeiting market today effecting most industry verticals, the globalenterprises face the challenge of providing brand management solutions to a multinationalenvironment. Further, as counterfeiting affects the enterprises IP and unique selling propositions,they need to implement effective anti-counterfeiting solutions that will provide them with onlinefraud protection solutions as well as safeguard their brand reputation. Nevertheless, with theadvancement in technology, enterprises can today build up strategies that involve social media andweb based solutions that will enable• 24/7 search on internet violations• Locate new targets, large players and networks that sell counterfeits• Extensive research on target audience to convert them to a customerIntegrating social media with online media marketing only facilitates enterprises through effectivemanagement of the brands reputation and successful brand management techniques.Read More About: enterprise risk management, gray market.