The study reveals that 75 per cent Indians believe brands should play a role in improving their quality of life and well-being.
Amul, Cadbury and Google have emerged as the top three meaningful brands in India, states a study undertaken by the Havas Media Group. The other seven brands featured in the top 10 Meaningful Brands list includes Britannia, Life Insurance Corporation (LIC), Microsoft, Intel, HP, Parle and Samsung. At the global level, Samsung, Google and Nestlé were the top three brands.
In its sixth year globally, and in its third year in India, the study titled Meaningful Brands, shows how our quality of life and well-being connects with brands at both the human and business level. The study covers 1,000 brands, 3,00,000 people, 34 countries - and scope (12 industries).
The India leg, its most extensive yet, covered 100 brands, 13,000 people, and 11 sectors, across the country.
The study showed that in Asia-Pacific, people's connection with brands remains stronger compared to other Western regions and emerging economies, with 10 times higher attachment. People trust 83 per cent of brands compared to just 50 per cent globally, and they would care about the disappearance of 60 per cent of brands, while only 26 per cent would do so globally.
In India, brands have a high level of meaningfulness and are seen as providers of personal and collective well-being; they are viewed as much more than functional products. Brands here are also seen to be meeting consumers' expectations more than in any other region. Seventy five per cent of Indians believe brands should play a role in improving our quality of life and well-being, with the Asia-Pacific average being 69 per cent and the global average being 67 per cent. More than half (67 per cent) the Indians feel that brands are working hard at improving our quality of life and well-being, which is very impressive statistics, compared to an Asia-Pacific average of 55 per cent and a global average of 38 per cent.
Speaking about the study, Anita Nayyar, CEO, Havas Media India and South Asia, explains, "This is our largest India study to date, in terms of size and scope. Marketers will be encouraged to know that India once again stands out as the No.1 country, globally, where consumers have the closest relationship with brands. India is also the most 'grateful' country, rewarding meaningful brands, in business terms. Brands are working hard towards improving our quality of life and well-being. This creates tremendous opportunities for brands in India to connect with their customers, in our organic world, which is at the core of the Meaningful Brands project."
In India, the food sector is one of the most meaningful sectors, attaining strong attachment and trust. Local brands like Amul take the lead along with multinational corporations like Cadbury which introduce local brands that resonate with consumer tastes.
The study also reveals that Indians have the highest attachment towards Life Insurance Corporation of India (LIC). Eighty six per cent of people would care if LIC were to disappear tomorrow (globally, most people do not care if 74 per cent of brands disappeared the next day).
Mohit Joshi, managing director, Havas Media Group India, summarises, "People in India are happy to have brands as partners and as enablers to help them improve their quality of life and well-being. While in the West there is a high commoditisation of brands, people in India, have high expectations and reward those brands that contribute to their well-being. This is the second time in a row that LIC has scored as the brand with the highest attachment. The study throws open exciting possibilities for marketers and brands to interact with their customers."
Browse the infographic below.