Why Should Brands Resort To Anti-Counterfeiting Solutions? Every organization is sensitive about its brand image, which is much more than just a trademark or name. Simply put, it is an enterprise’s identity that reflects its intrinsic nature and character. Therefore, any dilution in the brand’s image and reputation results in losses, both finite and infinite. Innovations and developments in the internet has been a boon to brand development. Yet with unfavorable practices such as product duplication and counterfeiting results are negative brand image.
Most brand protection solutions today do not possess a complete anti-counterfeiting process in it. It merely scans the internet to detect any brand and trademark violation. Product and brand counterfeiting leads to brand erosion along with monetary losses. For instance, for a luxury retail, hightech or pharmaceutical goods company, where the margin of losses is higher, the visibility of the exact products that are being counterfeited along with the discounts are imperative for being able to combat brand erosion and revenue loss. In order to aid this situation solution providers have come up with anticounterfeiting solutions that provide 24x7 real time monitoring and enforcement services.
These high-end anti-counterfeiting solutions have advanced search capabilities and are appropriately designed for counterfeit detection in multiple industry verticals. The solution helps in detecting and tracing the brand violators and responding accordingly. However, the suspect criteria differ as per the kind of industry. For example, in case of high-tech industry, products that are usually sold at higher discounts, more than 50 percent are suspects. Similarly, when it comes to the pharmaceutical industry, the main criteria are the volume of goods sold through the unrecognized channels other than the price factor. The modern day pharmaceutical anti-counterfeiting solutions helps to detect these suspects and combat them.
Anti-counterfeiting solutions from leading solution providers operate in the following ways:
● Other than proactively scanning the internet for counterfeits, the solution applies human intelligence to ensure complete data integrity ● The solution allows pharmaceutical companies to significantly minimize the percentage of drug distribution by detecting the network and syndicates of high volume counterfeits
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Offers a complete end-to-end brand protection solution that comprises investigation and unique enforcement services
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The processes are less costly and time consuming
Therefore, it is crucial for organizations to realize that their brand requires protection from brand counterfeiting. Innovative anti-counterfeiting solutions apart from detecting counterfeits can successfully shut down illegal operations. Furthermore, the solution can also send, cease, desists DCMA letters automatically and provides automatic auction shutdowns.
Read More About: enterprise risk management, Anti-Fraud, brand management, gray market