Shut down Counterfeits with Brand Management Solutions
Shut down Counterfeits with Brand Management SolutionsTodays competitive business environment, finds most of the large scale enterprises workingtowards creating a brand name. The significant economic value and guarantee of quality offeredby the brand names brings in challenges in the form of imitations and counterfeits. With reportsfrom The Business Week as early as 2004 stating an estimation of the World CustomsOrganization that 512 billion Euro of traded world merchandise in 2004 may have beencounterfeits and showcases the fact that the global counterfeit business is out of control whichgreatly impacts the brands.Further, as enterprises move into a globalized and technologically enabled world withe-commerce, counterfeiting tends to bring in great losses for the brands. It thus becomesnecessary to work out Effective brand management and marketing strategies that manufacturescan employ to address counterfeits. Aimed to create an emotional connection between products,companies and their customers, brand management is a communication function that is based onthe analysis and planning of positioning the product in the with a targeted market. Developing agood relationship with the target consumers helps enterprises in maintaining the desired brandreputation.A brand being the enterprises identity to the world reflects its intrinsic character. With largenumber of purchase decisions being dependent on the brands reputation, any compromise withthe brand’s image and reputation results in potential losses. Technology having paved way for thecounterfeiters to equally make use the internet for e-commerce activities, large number ofinferior and cheaper counterfeits flood the online market greatly affecting the worldwide brandperception.As Gartner suggested, technology needs to help the enterprises through their marketing,communications, legal counsel and corporate risk management to monitor manage and measuretheir online reputation and face problems faster. Leading solution providers of enterprise riskmanagement have developed effective brand monitoring solutions that will help to identifycounterfeit suspects and violators facilitating effective brand management actions. The
SaaS-based brand monitoring software searches the Internet 24/7 for violations, prioritizes andanalyzes the violations and presents the details in an easy-to-use dashboard.Deploying brand protection solutions will help enterprises to protect their brand and trademarkfrom exploitation. All enterprises, irrespective of the industry that they belong to requireanti-counterfeiting solutions that provides visibility into the products that are beingcounterfeited. The brand management solution from the leading service providers enablesenterprises to locate new targets and networks selling counterfeits, identify large players in thefield. Such monitoring solutions which helps to shut down counterfeits has become one the mostimportant steps in effective global brand management.Read More About: Anti-Fraud, gray market.