VIEWS: 13 PAGES: 1 CATEGORY: Technology POSTED ON: 4/4/2012
Technological innovations and customer demands have paved the way for unprecedented growth recorded in the consumer electronics industry.
Brand Name Protection for the Online Consumer Electronic Market Technological innovations and customer demands have paved the way for unprecedented growth recorded in the consumer electronics industry. However, as new products or updated versions hit the market, this industry becomes especially susceptible to excessive discounting. Further, wide usage of Internet has seen a growth of e-commerce sales in the sector, which calls for pricing and promotional monitoring of e-commerce sales. Companies are struggling to protect their intellectual property in the volatile marketplace – especially when outsourcing to low cost regions. The consumer electronics market has products varying from simple gadgets to high-end electronics. Tracking product prices, pricing policy compliance, gray market sales and counterfeit detection have become necessary for consumer electronic product manufacturers and retailers, who have strived hard to build a brand name and a distinctive identity in this growing market. Providing them with end-to-end visibility of online sales will not only help them understand business competition, but will also enable them to manage online pricing and maintaining consumer credibility. Brand name and Brand reputation is a necessary aspect of business growth in every sector, even more so in the e-commerce led consumer electronic industry. Internet, with its openness and global reach has not only provided opportunities for growth and profit, but has also opened up venues for fraudsters to enter into the counterfeits and grey market, thus effecting the brand name. Brand name abuse leads to the loss of reputation, trust, customer loyalty and revenue, which damages the future of any company. The best way to counter these grey market sales is by deploying online brand protection software that would help enterprises with online fraud detection and grey market sales. Brand protection is a challenge for the technology and consumer electronics industry. The yearly losses through grey market sales of legitimate goods amount to nearly $40 billion and for counterfeits, it’s nearly twice that. Maintaining brand reputation for online consumer market would need solutions that would help conduct a landscape analysis and determine susceptible areas. Leading service providers have designed online brand protection solutions which help monitor e-commerce auctions sites, B2B trade board exchanges, B2C online retailers, social networking sites, web content and domain name for IP infringements and sales channel auditing. A brand protection software, with 24/7 visibility will help organizations identify and prioritize counterfeit products and grey market diversion in the electronic market. It will also facilitate counterattacking illegal activities and take necessary pre-emptive actions before it causes any irreparable damage.
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