Ranesh Bajaj highlights importance of brand protection on day two of LMAI conference

He spoke about the speedy expansion of the greymarket. He said, "the grey market is affecting brand owners and entire economy. Plus it is having a serious impact on brand and

brand owner in the  form of  a loss in  market share."

 

Bajaj felt there is a deterioration of brand image as well as a loss of control on supply v/s demand. This he felt has a negative impact on customer experience. Which includes health

issues for the pharmaceutical and FMCG industry, plus legal and regulatory risks. 

 

Bajaj pointed out that "every product is counterfeited; and product counterfeiting is big business." He shared some data with the delegates about how organised crime and internet is boosting the counterfeit. He stated, as much as 10% of all goods/services sold worldwide are counterfeit; and 7-­‐10% of global pharmaceuticals are counterfeited.

 

Bajaj said, "As per a FICCI survey, India lost Rs 26,000-cr to the  grey markets in 2012." The global  annual losses due to counterfeiting have recently been estimated at $600bn; and the affected  sectors being: auto components, alcohol, pharmaceuticals, computer hardware, FMCG, mobile phones and tobacco. 

 

Bajaj, then looked at how the label industry can protect a brand. He said, "wherever possible, build counterfeit deterrence, product authentication and brand protection technologies

into the design of the label or pack. He added, "Combine technologies to provide the most effective overall solutions. If possible, make each label/pack unique." And finally, he said, "Keep ahead of the counterfeiters by changing the solutions used on a frequent basis."

 

Then he proceeded to look at 20 types of print applications; as well technologies which could ensure a brand owner's needs are protected from counterfeiters.