Tag Archives: trust

Nokia & Tata lead India’s Most Trusted second year in a row

Chandigarh tilts all tables. LG ranked most trusted in city, Cadbury’s 2nd, Ponds 3rd

Chandigarh, India, 19th January 2012: India has chosen – the much anticipated results of India’s Most Trusted Brands are out. Nokia and Tata have retained their first and second positions from last year as India’s top two Trusted Brands this year. Sony, the Japanese electronics leader, slipped to fifth position this year, outranked by the two aggressive Korean Chaebols, LG at 3rd position and Samsung at 4th position. Maruti Suzuki improves its position of last year by one notch and is India’s 6th Most Trusted Brand this year. Bajaj ranked 7th is a new entrant in this year’s top ten (last year it was ranked 12th); LIC and Airtel positions are unchanged from last year at 8th and 9th rank respectively. Reliance slips to 10th Most Trusted Brand this year (from sixth last year). The Brand Trust Report, India Study, 2012 (BTR 2012), lists India’s 1000 Most Trusted Brands and was launched in the city today. The report, the result of a comprehensive primary research conducted on 61-components of trust – a proprietary tool of Trust Research Advisory. The research is conducted with 2718 ‘influencer’ respondents from 15 cities, generating more than 2 million data-points from 12000 hours of research.

However, Chandigarh’s choice of India’s 10 Most Trusted Brands totally different from rest-of-India. LG emerges as Chandigarh’s Most Trusted Brand followed in sequence by two rank outsiders, Cadbury’s at 2nd, and Ponds at 3rd position. Cadbury’s on an All-India basis is ranked 28th and Ponds 39th – showing some high regional preferences in the  city. The most surprising find of all is the inclusion of Shell at all India rank 118, ranked at 9th position by the city.

N. Chandramouli, CEO, Trust Research Advisory, elaborated on nuances that Pune showed in the report and said, “The Brand Trust ReportTM maps the brand topography of India on the universal metric of Trust –a proxy for all the different experiences that any brand generates. Though sometimes being headquartered in the base city comes as a great advantage, in other cases, the proximity does reveal too much. There are six brands which are in the top ten of Chandigarh, which are not in the All India top 10 list, showing a very different trend in this city. Shell throws up a surprise jumping up from an All-India rank of 118 to 9th position in Chandigarh”.

The report, priced at Rs. 10000 (Rupees Ten Thousand Only) is available across major book stores, online book stores and TRA offices.

About Trust Research Advisory:

Trust Research Advisory (TRA), a part of the Comniscient Group, is a company dedicated to understanding and simplifying concepts related to Trust. TRA was conceived in 2008 to decipher, analyze and measure Brand Trust, to make it universally understood and easily applied. The organization’s focus areas include Research, Publishing, Trust Training, and Licensing. Trust Research Advisory, is committed to bring forth concepts/ideas to bring out “Trust” in all its manifestations that shall redefine Branding, Marketing Communication and the Behavioural Sciences.

 

About The Brand Trust Report, India Study, 2012:

The Brand Trust Report, India Study, 2012 (ISBN:978-81-920823-1-8), is the result of a primary research based on the proprietary 61-component Trust Matrix. TRA’s Trust Matrix has resulted from several hundred hours of research with sociologists, communication experts and behavioural scientists. This year’s research was conducted among 2718 ‘influencer’ respondents across 15 cities. The study, the most intensive undertaken on Brand Trust across the globe. The study generated nearly 2 million datapoints and 17000 brands and was conducted across 15 cities. Indian Statistical Institute helped create a statistically robust Brand Trust Index which has been used to hierarchically rank India’s brands on the basis of trust.

 

The BTR lists India’s 1000 Most Trusted Brands nationally. In this, 22 are listed in the Personalities category, and this list is led by Anna Hazare who has surged gaining the nation’s trust ahead of popular personalities like Sachin Tendulkar, Salman Khan, Amitabh Bachchan and Aamir Khan featuring in that order. Among business personalities Ratan Tata is the Most Trusted, followed by Vijay Mallya, Bill Gates and Steve Jobs.

Most Trusted leaders in some other categories are Armani in Branded Fashion, DLF in Construction, NIIT in Education, ONGC in Energy, PVR in Entertainment, Pepsi in F&B, Dabur in Healthcare, Taj Hotels in Hospitality, Google in Internet, ACC in Manufacturing, Thomas Cook in Services, Being Human in Social Sector, Hewlett Packard in Technology, and Air India in Airlines.

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The Brand Trust Report, India Study 2012

‎2 million datapoints
17000 brands
12000 hours of fieldwork
61 parameters of Brand trust
15 cities

India’s most comprehensive report on the Brand Trust is all set for the launch – ‘The Brand Trust Report, India Study 2012.’

Have you booked your copy yet?

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Beyond Trust

Building trust makes good business sense. One does not need to have a reason to create and maintain Trust. Everything positive is almost magnetically attracted to anything that is trusted. Brands which are highly trusted gain fiercely loyal ‘owners’ (the customers and the influencers), those who will protect the brand at any cost, sometimes even at the cost of the brand custodians.

It is difficult to perceive trust, but its absence is easily visible. The trick, although is to maintain and grow the trust quotient without ever having to undergo the excruciating pain of trust deficit.

Building trust makes good business sense. One does not need to have a reason to create and maintain Trust. Everything positive is almost magnetically attracted to anything that is trusted. But having gone through this report, the reader will know that it is more than just a ‘magnetic’ attraction. Brands which are highly trusted gain fiercely loyal ‘owners’ (the customers and the influencers), those who will protect the brand at any cost, sometimes even at the cost of the brand custodians.

It is difficult to perceive trust, but its absence is easily visible. The trick, although is to maintain and grow the trust quotient without ever having to undergo the excruciating pain of trust deficit.

What beyond Brand Trust? Actually everything. Brand Trust is only one perspective of trust, and is only the beginning. The theory of Brand Trust is equally valid for any other context of trust, whatever or whoever be the object (or Trustee).

The trust measurement tool (explained in the Brand Trust Report) also becomes a very handy ‘template’ for building relevant and effective strategies that give results that are simple, measurable, relevant and trackable over time. Since trust is dynamic, a regular tracking of trust, not only allows a measurement of trust, but also allows a measure to gauge the impact of Communication & Action strategies suggested after their implementation. This allows the Trust Matrix solutions to be custom-fitted to each organization it is being used for.  After all, every behavioural science tool needs some fine-tuning.

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Comparison between the Salary Level and Brand Trust

For Bajaj, the salary bracket of monthly earnings of INR 30,000 (USD 667) to INR 35,000 (USD 778) shows a dip in Brand Trust

 

Every person with a marketing budget has at least once questioned if salary group classifications work  – is there any variation in the way different salary levels react to brands? To the suprise of most, the answer will be a resounding “No” considering the 10 brands shown in the graph.

Across salary brackets, respondents behave exactly the same way in case of 5 brands, namely Haier, Raymond, Bata, Colgate, and Vodafone. For Bajaj, only one salary bracket[monthly earnings of INR 30,000(USD 667) to INR 35000(USD 778) shows a little dip in Brand Trust. The most variation in behavior across salary levels is seen for the two banks, ICICI(which has the maximum variations) followed by SBI.

Some of the other general anomalies are:

  • SBI, a staid brand if it may be called that, has a high Brand Trust Index among the younger and vibrant of 18 to 25 year olds.
  • Among the 10 most Trusted brands, LIC and Titan have a significantly higher Brand Trust among females than males.
  • People in the age group 46 to 50 have the greatest Brand Trust for Bajaj, whereas the same group has the lowest Brand Trust for Hero Honda.
  • The Brand Trust for Raymond and Colgate is constant across income groups and virtually has no variation across salary levels.
  • The Brand Trust for ICICI has almost no variation across age-groups.

Our expectations and perceptions both guide and misguide our actions. What we take to be fixed and absolute, is often dynamic and transient. In everything we do, the more often we stop to relook our assumptions, the better the chances are for our success.

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The connection between Brand Trust & Buying Propensity

The brands which were disposed in buying propensity were LIC, SBI, Hero Honda and Colgate

Among many things, propensity to buy is highly dependent on two things, Brand Trust and Brand Recall. One without the other is insufficient for the act of buying to happen. We analyzed 20 Most Trusted Brands and added to this their recall frequency (unassisted recall), the total of which we’ve named Buying Propensity.

Buying is an act that subsumes the sum total of all the experiences, perceptions and prejudices, and calls for a firm commitment from the buyer. Provided the buying desire has been accounted for, Buying Propensity is the reasons a brand will be chosen over the other.

One odd outcome that became visible on comparing the top 20 brands was that after Titan at the 9th rank, all the brands ranked from 10 to 20 had a similar Buying Propensity and it was much higher than what their Brand Trust alone might have supported. In this group, the brands which were displaced in Buying Propensity were LIC, SBI, Hero Honda and Colgate. For both, a higher or lower comparatively recall was responsible.

Some of the brands whose recall is far higher as compared to their trust include Airtel, Titan, Bajaj, Reebok, ICICI, Vodafone, Colgate, Bata and Haier.

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Technology India ‘Trusts’

India has come to mean two things, technology and growth. The two are also inextricably intertwined and probably feed each other.

The Y2K acted as an inflection point for India, after which it never looked back and has become the center of the world for processing technologies, both onshore and offshore. Apart from software processing and programming,India’s young millions are taking to computing and the internet, and can be attributed with a high growth.

Technology has always been accorded high Category Trust, a dream fueled by the high growth of many companies that benefited millions by way of shareholding and employment over the last decade. With 8 brands in the top 50 list, this category gets a relatively larger share of Brand Trust than others.

Among internet companies, the ubiquitous Google ranks way above the others, followed by Yahoo!. The next ranked most trusted Internet brand is Orkut, the Google owned social networking site which uniquely has the second highest number of visitors from India. Facebook, with its 500 million followers (and growing) only just makes intoIndia’s 300 most trusted brands.

Among the seven software companies that feature in Brand Trust Report study, the top four in order of their rank are Microsoft, IBM, Wipro and Infosys. In hardware brands, the most trusted is HP, followed by Dell, HCL, Apple and Intel.


 

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Driving around on ‘TRUST’

Speeding at 18% annual growth, the car category is among the fastest growing sectors in India, second only to China. As a micro-sector, Cars have the highest brand density with 14 entries among the top 300 Brand Trust list and 6 car brands among the first 100 itself.

In his book, Spent, evolutionary psychologist Geoffrey Miller asserts that purchases, especially visible assets like cars, are displays of personality traits, creativity, and even intelligence – maybe some of the reasons why so many cars feature on the top list.

Maruti Suzuki is the 7th most trusted brand in India. The second on the car list, is BMW, the luxury car manufacturer, ranked 33rd in the All India Brand Trust Index.  In comparison, some other luxury cars like Mercedes Benz and Audi are ranked 81st and 104th respectively.

Brand Trust in Cars, being such symbolic and emotive elements, cannot be just measured in terms of Outward Appearance, their most visible manifestation. Car owners are known to get into heated arguments over these possessions and it shows how much car brands affect the empathetic aspects, and therefore become emotionally sensitive topics.

While India grows fast in this segment, it yet has among the lowest global penetration in cars, at only 8.5 cars per thousand.  Sectors like telecom have benefitted immensely by leapfrogging technologies, and in the car segment too, India is likely to benefit by adopting progressively better technologies developed globally.  Despite this, the long-term impacts of growth like pollution, high fuel consumption and the challenge of recycling waste will remain major concerns. To maintain the high aspiration for cars and make them an object of high Brand Trust, the industry and the individual car-makers must take significant and concrete steps at this juncture through the mechanism of Corporate Altruism.


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