Protect Brand, Revenue And Customer Satisfaction With Brand Protection Software

In todays competitive environment, companies need to be wary of counterfeiting

, gray market, trademark infringement and much more in order to stay afloat. Hence, enterprises deploy brand protection software to protect their brand and trademark from exploitation. However, most brand protection solutions do not include product-counterfeiting features. All they do is scour the Internet for exploitation of trademark or brand and nothing beyond that. Though trademark infringement and brand name misuse are serious issues that cannot be downplayed, product counterfeiting is what that brings in great losses. From pharmaceutical, high tech to retail luxury goods companies, there is not a single industry that has not experienced the outcomes of counterfeiting. It has affected not just the brand, but also revenues and more importantly the profit margins.

The production and sale of counterfeit goods is a multimillion-dollar business with the Organization for Economic Co-operation and Development (OECD) estimating the value of counterfeiting to be in the region of $250 billion per year. The love of bargain among customers is what that has paved the way for the exponential increase in the sale of counterfeit goods. The desire to buy a popular product at the lowest price is not at all a crime but it has created a market for those specializing in counterfeit products. Pharmaceutical medicines, apparel, footwear, jewelry, consumer electronics, handbags/wallets, watch, toys/electronic games, computers/hardware are some of the most counterfeited products.

According to the United Nations Office on Drugs and Crime (UNODC), drug counterfeiting is one of the most harmful forms of counterfeit goods with sales from Asia to South-East Asia and Africa alone amounting to some $1.6 billion per year. The reasons for this are the easy profits and relatively low risk of prosecution and penalties. Statistics show that the counterfeit drugs, which cause 100,000 deaths worldwide each year, provide approximately $75 billion in revenue for illegal operators.

Hence, all enterprises, irrespective of the industry that they belong to, require a reliable anti-counterfeiting solution that provides visibility into knowing which exact products are being counterfeited and how much they are being discounted for in order to cease this continuous revenue and brand erosion. A leading provider of cost-effective brand protection solutions uses advanced search technology to monitor activity for any number of products globally. It picks up pricing, discount percentages, and quantities for each product and helps to quickly identify the companies that cause loss of revenue, brand, and customer satisfaction.

by: Gladeyas

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