Safeguarding brand reputation from counterfeits
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Safeguarding brand reputation from counterfeits

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counterfeit products are excellent copies of the original which at most times cannot be distinguished from the consumer and at times by the manufacturer also. Providing high profit margins, these ...

counterfeit products are excellent copies of the original which at most times cannot be distinguished from the consumer and at times by the manufacturer also. Providing high profit margins, these counterfeit products, have today turned into a lucrative business and an organized crime, damaging the brand reputation and image of the original products manufacturers.

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Safeguarding brand reputation from counterfeits Document Transcript

  • 1. Safeguarding Brand Reputation from CounterfeitsToday the marketplace is filled with millions of counterfeit items. These can be found around theworld in flea markets, with street vendors, small shops, and today in online shopping portals.Counterfeit products such as medicines, pharmaceuticals and electrical devices pose life risk to theconsumers. This further leads to financial loss and loss of brand image for enterprises worldwide.The counterfeit products are excellent copies of the original which at most times cannot bedistinguished from the consumer and at times by the manufacturer also. Providing high profitmargins, these counterfeit products, have today turned into a lucrative business and an organizedcrime, damaging the brand reputation and image of the original products manufacturers. Besideslosing their revenue, most small businesses are also forced to close down due to brand erosion andfinancial losses. On the other hand, counterfeiters thrive with counterfeit and gray market salesmounting up to billions of dollars.With consumers associating products and business with brand names, enterprises must take robustmeasures to protect their brands. With technology evolving, businesses are utilizing eCommerceto expand their sales channels. This digital presence has made large and medium enterprisessusceptible to cyber threats. The top management thus needs to realize the importance of brandmanagement and its impact on short and long term revenue goals. This will help them allocateresources to solve the overpowering problem of counterfeiting.Leading service providers make use of enterprise risk management and brand managementtechniques to locate the counterfeits in the online markets. Using such brand intelligence helpsenterprises to shorten the process of identifying counterfeit by prioritizing violators who damagesthe brand reputation. Further, enterprises that incorporate anti-counterfeiting solutions as part oftheir brand protection efforts are proactively protecting their customers too.As low quality and inexpensive goods flood the markets, loss of revenue, enterprise brand statusand intellectual property rights has become a serious concern. Since counterfeiting is not confinedto any particular industry sector, the leading service providers have developed online brandreputation management solutions that can help in reducing the impact of product counterfeiting.
  • 2. These solutions besides locating the online counterfeits, also help to shut down any illegaloperations.Further, with globalization playing a major role in business expansion, enterprises need to haveeffective anti-counterfeiting and brand management solutions that can ensure protection in caseof infringements. The anti-counterfeiting solutions developed by the leading service providers arebased on innovative techniques and high-end research methodologies that facilitate enterprises tomonitor activities for a number of products across the globe. All the information gathered by thesearch engines are displayed through dashboards and charts along with a risk index of the suspects.Such detailed analysis provides enterprises the in-depth visibility to take on effective steps toprotect their brand reputation.