Winning Strategies for Stopping Counterfeits and Recovering Revenues
Infamously referred to as the crime of the 21st century by the FBI, counterfeiting is a dreaded word in all manufacturing circles. With such cases of fraud, manufacturers all over the world are still coming to terms with their colossal annual losses and, more importantly, the blatant abuse of their brand values and reputations. Manufacturers are working overtime to try to edge out the counterfeiters to protect their brand value and revenue streams. So be it a luxury goods manufacturer, a pharmaceutical company or even a bearing company, counterfeiting can affect them all.
One strategy to beat the counterfeiters is to start monitoring auction websites to check for brand abuse instances, this can provide insights into any illegal activity. Tackling brand counterfeitin at the product level can also provide information about pricing, about the fake products and additionally details on the site owner. This level of monitoring can give adequate and detailed analysis about the market’s size, growth and development and assess the different levels of threats. Manufacturers should opt for intelligent solutions that can provide them with pertinent and steady information about any online brand counterfeiting. Product details provided by the manufacture or brand holders can assist in tracking any products that are possibly being sold in the wrong location with a dubious price.
A brand protection or anti-counterfeiting solution that can give relevant details and also provide regular alerts whenever a product is spotted in the open market is one which can be of enormous use to any manufacturer who wants to tackle counterfeiters head on. Additionally, a brand protection solution needs to be able to identify any possible gaps or leaks in the supply chain. There are a few solutions that can fix such supply chain leaks and also provide information for any possible warranty abuse.
Another effective strategy to stop counterfeits and recover precious revenue is to opt for an effective anti-counterfeiting solution that can spot bulk sellers. These solutions keep a close watch on b2b sites and popular auction sites and constantly update you on any instance of brand abuse. Tackling counterfeits is not an easy task but with a technology solution and diligent watch by the manufacturers, counterfeit volumes can definitely be reduced drastically.
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