Posted on May 30th, 2007 at 6:01 am by Ashutosh
Today, Economic Times’ Brand Equity released the findings of its “India’s Most Trusted Brands 2007” survey. The top 100 list is mostly populated by FMCG products and some medicinal products sold over the counter (without any prescription from any physician). The list starts with Colgate as the top brand and moves down with Vicks, Lux, Nokia, Britannia, Dettol, Lifebuoy, Pepsodent, Pond’s and Tata Tea forming the Top Ten.
What is revealing here is that most of the consumers are occupied with brands of products having as trivial a use as cleansing of teeth or bathing with a soap with some antisceptic liquid mixed in their bath-tub! These kind of products probably doesn’t fall into the very essential or priority spectrum of a common man. …And she can afford to put her blind faith or trust in any well publicised brand. Surprisingly, the more essential services like Banking, Healthcare and Insurance are the ones which can not earn the faith and trust easily. So these sectors have to put more efforts to win consumer confidence as compared to brands of products with a relatively low impact on her life. That might be the reason why SBI is the only banking brand in Top Hundred list and that too at 61st position, LIC is at 27 and I don’t see any automobile brand or airlines and hotel brands though online spendings are highest in travel sector in present Indian scenario. Does it mean there lies a vaccum …for creating a strong Travel & Hospitality brand?
Link Here | May 30, 2007,
I think the items used on daily basis and consumer purchase frequently are the most trusted brands. As you mention there is no automobile brand in 100’s list so I think reason is that an average person buy an automobile one or two times in his/her life so he/she couldn’t had tried more that one or two brand in his/her life time. I think that is the reason one can not express his/her brand trust in the products which he/she used only one or two brands in his life time, like automobile. Where one can express his/her brand trust which he has tried so many brands many so times.
Comment by Chetan |
Link Here | May 31, 2007,
Chetan, I just loved the way you have returned the feedback to this post. Your ideology and thought chain is very original and logical too. Keep it up. Infact this has compelled me to invite you to co-author this blog on any of your favourite subjects that goes well with the theme of this blog. I doubt whether will you do me this favour. You may PM me for more details on it, if interested.
Comment by Ashutosh |
Link Here | June 1, 2007,
Chetan might be right to some extent that brands with affordable products are tried several times by a consumer, hence they can be labelled as tried and tested brands. But Brand Strength is more a perceived value than its real value deliverd by the product it carries. A brand is mostly & rightly judged by the first time buyes who don’t have much idea of the product and buys the product relying solely on its brand strength. You might have heard about the legendary strength of the brand value of Rolls Royce. But how many have actually bought a Rolls Royce?
Comment by Yellow Pages |
Link Here | June 1, 2007,
Ashutosh,
Thanks for inviting me as a co-author of your blog. Whenever I would have any interesting topic suitable to your blog, I will let you know my views. As I visit regularly your blog, I would love to comment on the topic interesting to me.
Comment by Chetan |
Link Here | June 1, 2007,
Yellow Pages
You are absolutely right about the brand you are talking about. That brand is time tested and very less people have tried that. We can say that very few brands are like that, but as Ashutosh mention about list of top hundred brands and in top hundred brands there are most of the consumer and time tested brands could make their places.
Comment by Chetan |