GenuineMark is the Anti Counterfeiting tool which offers blockchain based technology. It gives unique identity to each product . Thus helping in traceability, authenticity, capturing data. It is helpful for brands as well as customers.
What is the problem?
Counterfeiting goods have created a menace in the global market.
- Health Hazards
- Forged products directly affect sectors such as FMCG, auto parts, liquor, etc. as products from these sectors are directly consumed/used by the end-users. Such products may cause health hazards to the consumers.
- Negative Impact on Brand Image
- The counterfeited products flow in the market in the name of a genuine brand, but the results are not genuine. This impacts the image of the brand in the eyes of the consumers. The inability to eliminate duplicate products leads to loss of brand value, loss of consumers and in turn loss of revenue.
- Encourages Illegal Activities and Loss of Tax Revenue
- Since the counterfeited products are sold illegally, the money generated through their sale is not received by the government. Instead, it gets used in different criminal activities that affect the economy.
- Legal Implications
- The brand owner, if ignoring counterfeiters, may face legal implications from Law bodies because of its impact on health and trust of consumers on the brand.
- Loss of Revenue/Market Share
- Lack of awareness about apt anti-counterfeiting technology makes brands lose a larger chunk of their market share.
How does GenuineMark solve it?
With the advancement in technology, Genefied has come up with anti-counterfeiting services to bridge the gap between the brands and their consumers with the help of a QR code scan.
- Traceability of Product
- Every QR acts as a unique identity to each product ever produced by the brand. The brand can then do the traceability of goods with ease and the consumer is satisfied with absolute purity.
- User Friendly
- GenuineMark believes in providing the best user experience without any hassle of downloading any app, users can scan the QR code through the normal scanner of smartphones.
Blockchain-based solution: GenuineMark offers blockchain-based unique QR code for the entire product line.
Benefits of GenuineMark
- Cost Saving
- GenuineMark reduces the overhead cost of packaging changes required as a traditional approach to stop knockoffs/duplicate products. GenuineMark provides the solution through the integration of technology in the packaging to make it a smart packaged product.
- Authenticity and Marketing
- This works two ways.
First, the customers will be able to check the authenticity of the product,Secondly, brands will also be able to get the primary data of their audience, which can be further utilized in creating/modifying marketing strategies for the product to enhance user experience. - Customer Data Analysis
- With this anti-counterfeit solution, consumers send insights with their buying behaviour and reports can be collected through various parameters.
