In an ever changing world of preferences, and with the ongoing shift in the relationship revolution between companies and their consumers, is there still such a thing a BRAND LOYALTY?
On its 16th year, Reader’s Digest conducts its annual Trusted Brands Survey in recognition of the companies that have consistently maintained excellent products and service to earn them a Platinum or Gold award.
The grand awarding ceremony will be held on Wednesday June 4, 2014, at the CROWNE PLAZA MANILA Gracing the event will be Readers Digest Asia editor in chief Sue Carney and Readers Digest Group Advertising Director for Asia Pacific, Sheron White as well as the top executives of the winning brands.
The Reader’s Digest Trusted Brands Survey has a well-established reputation as the premier consumer-based and international measure of brand preference. Each year, it has approached ordinary consumers and asked their opinions on what brands of products and services are important to them.
The survey is carried out on behalf of Reader’s Digest by Ipsos in 7 markets: Hong Kong, India, Malaysia, Singapore, Taiwan, Thailand and Philippines. Those surveyed include Reader’s Digest subscribers as well as randomly selected consumers.
This year’s categories include consumer electronics, finance, household products, personal products, food and beverage, health and personal care, services, motoring, and telecommunications.
Respondents are asked to name their most trusted brand in each of the product categories, then give each brand named a rating on a scale from 1 (Poor) to 5 (Excellent) on six qualitative criteria: Trustworthiness & Credibility, Quality, Value, Understanding of Customer Needs, Innovative and Social Responsibility. Each brand then receives a score based on the number of times it was named by respondents, multiplied by the average rating of the six qualitative criteria.
Trusted Brand award winners are identified for each of the eight surveyed markets as well as on an Asia-wide level. In order to win an Asia Trusted Brand award, the brand must win a Trusted Brand award in at least 3 of the 7 markets surveyed.
Backed by years of research Readers Digest confidently dissects the features a trusted brand must possess in order to maintain relevance and purpose for Asian consumers. A trusted brand enjoys international appeal, yet at the same time upholds a strong local connection.
Being ranked on the Trusted Brand list is a great achievement, but maintaining this ranking involves a genuine commitment to protect and fulfil the promises made to the consumer. It means ensuring the quality doesn’t drop. It means that great taste stays the same. And it definitely means delivering the same value and consumer satisfaction year in and year out, while always remaining open to innovation and reinvention – no easy task!
Are your favorite brands among the most trusted in the Asia?