How to Build a Barrier that Protects You from Counterfeits
A recent IAAC survey reveals that Fortune 500 companies in the USA spend an average of $2-$4 million per year to combat the problem of counterfeits. And why not? After all, counterfeiting amounts to a $1.2 trillion business. No wonder then that this illegal activity has earned the title of the crime of the 21st century. With enterprises’ brand equities being damaged because of the widespread menace of counterfeiting, companies are on the lookout for ways and means to put a stop to this illegal activity. Most enterprises today understand the importance of having a consistent anti-counterfeiting strategy that works in tandem with their specific enterprise objectives.
E-commerce has emerged as one of the primary causes of the spread of counterfeiting. Building effective defense barriers between counterfeits and the genuine products seems like a difficult task for most enterprises. Anti-counterfeiting solutions can easily provide visibility into those counterfeiting activities that can affect particular brands and products. Therefore enterprises should choose such solutions that can track unauthorized distribution channels including B2B sites, auction sites, etc., that sell counterfeit and gray market products. These solutions can prove to be quite a defense against counterfeits by helping regain misplaced royalties and bring back lost revenues.
Anti counterfeit solutions are simply about accepting the fact that today’s counterfeiters are well-equipped and highly skilled. Which means that to battle counterfeiting activities the anti-counterfeiting solution must also be intelligent and effective. A functional solution can measure the negative impact of counterfeiting for the brand image of a particular product or brand. The anti-counterfeiting solution that an enterprise opts for should alert the enterprise when their product appears on the open market, and help gauge if the enterprise’s distributors are involved in diverting the enterprise’s product. Such a solution can also be of help keeping in check costs associated with warranty abuses of the enterprise’s products.
Most enterprises are aware that counterfeiting impacts their brands and they realize that protecting the brand requires them to take proactive measures. The anti-counterfeiting solution that can offer the best protection for enterprises should provide the best brand reputation monitoring and reporting abilities and ensure optimized brand protection for the enterprises’ products.
Processing your request, Please wait....
