While Brand Protection May Seem Costly, The Benefits Are Immeasurable

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While Brand Protection May Seem Costly, The Benefits Are Immeasurable

Implementing brand protection strategies can seem an intimidating - and costly - task. However, as a brand owner, what would the cost really be if consumers were to lose trust in your products, or your reputation became damaged? At Markem-Imaje, we understand that protecting your brand may seem like it comes at a high cost, but think about the insurance you buy to protect your brick-and-mortar business or factory. Doesn't your brand deserve the same protection? After all, without brand recognition and trust, you wouldn't need a manufacturing plant or offices for executive personnel. Once you have decided to invest in brand protection, determining the most effective path may seem a daunting task. For most manufacturers, a layered strategy which combines several of today's latest technologies works well. When considering how to best protect your brand, consider these factors: What are your biggest issues? Does your company have problems with diversion or counterfeiting? How could the issue be resolved, or at least partially alleviated? Be familiar with IP (intellectual property) rights. Do you know what elements of your brand you legally "own", and which elements are in consumers' minds when they think of your company? Make an effort to define the value of loss to your business solely in terms of intellectual property. Even when others attempt to copy your brand without resorting to counterfeiting in foreign markets, the mere association can result in damage to your brand reputation. No two situations are alike. In order to implement an effective brand protection strategy, the first step is to put yourself in the mind of the perpetrator. What do they hope to accomplish, or what are the perceived opportunities? What motivates the perpetrator to attempt to copy your brand, or even tarnish your reputation? Can they easily achieve their goals without going to great lengths? Calculate the urgency of the situation. Is your brand being negatively impacted right now because of counterfeiting? In the event of a recall due to contamination of a product, might your company suffer a substantial loss in market share due to a health risk? In your most essential markets, what level of prevention will be necessary to protect your IP? There are many other considerations for implementing your brand protection strategy, including knowing who your enemies are, how many elements will be involved in order to prevent counterfeiting in regards to packaging, and more. For many manufacturers, a brand's value is built on the trust of their customers. Ultimately, it's impossible to measure the value of your brand, your most important asset! Implementing a brand protection strategy should be your number one priority, as the cost of not taking action could ultimately be the failure of your business! Markem-Imaje is a trusted world leader in industrial traceability and coding/marking solutions for manufacturers across a wide range of industries. Let us help you protect your brand, lower the risk of diversion and counterfeiting, and provide traceability solutions you can rely on now, and in the future.

January 10, 2014
Markem-Imaje Announces Acquisition of CSAT

Markem-Imaje Announces Acquisition of CSAT
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