A new global study commissioned by Weber Shandwick has found that the company behind the brand is critical to consumer purchasing decisions.
Seventy per cent of consumers surveyed avoid buying products if they did not like the parent company.
Executives agree with 96 per cent in China saying that ” a strong corporate brand is just as important as strong product brands.”
The Company behind the Brand: In Reputation We Trust illustrates the challenging consumer landscape facing today’s marketing and communications executives.
The research identifies six key insights revealing a world where consumers no longer just buy producst based oon their own merits but also shop by company reputation.
Consumers are exerting greater control over what brands they buy and when asked consumers often used word assurance that the brands will be of high quality, ethically sourced and made responsibly.
As one consumer said: “It is the company you are financially supporting when you buy its product. We have too many choices to have to buy a product from a company we don’t like.”
Executive vice president of public affairs, Asia Pacific, Alistair Nicholas, said: “Our research demonstrates that, for consumers, corporate and brand reputations are becoming increasingly inseperable. Consumers are now actively placing stock in the companies they trust, as they seek out products that are ethical, safe, and high quality. A strong corporate reputation is absolutely critical to tappping into the full value of any enterprise.”