Mumbai, January 18, 2011
It's official - India has chosen. Nokia, the global leader in mobile handsets, stands out as India's Most Trusted Brand that has won the trust of Indians.
As part of the study, the philanthropic Tata was ranked second, followed by the Japanese electronics giant, Sony at the third spot. The Korean duo of LG and Samsung plugged in at the fourth and the fifth positions respectively, while Reliance brand stands sixth. Maruti drives in at the seventh position, followed by the state insurance agency, LIC. Airtel, India's largest telecom services company dialed in at the ninth position, with Titan rounded up the Top 10 of India's Most Trusted Brands at the tenth position.
The revelations were a result of a study, published by Trust Research Advisory, a leading research organization dedicated to understanding and simplifying concepts related to Trust. The study, compiled into a 116-page report titled "The Brand Trust Report, India Study, 2011" was launched at The Grand Hyatt, Santa Cruz, Mumbai. The launch event witnessed the owners of the Most Trusted Brands of India receive a commemorative plaque on their momentous achievement.
Talking at the launch, the CEO of Trust Research Advisory, Mr. N. Chandramouli said, 'Brand Trust can be defined as the 'soul of the primary bond of engagement'. Over time, the more evident connotations of trust like pedigree, size, performance have changed, and the subtler forces are beginning to exert their influence on Brand Trust. Early on, we realized that Brand Trust, along with other intangibles like happiness, cannot be achieved directly and instead must be derived from its myriad components, which are often elusive. Once such concepts of the study evolved, they were applied empirically in businesses, helping us create a structured format for the analysis of Brand Trust."
The presence of the demi-god Sachin Tendulkar at the 59th slot on the Most Trusted Brand of India, and of the Father of the Nation, Mahatma Gandhi at the 232nd slot emphasizes the impact these men have had on the people of India. Pepsi has once again come out fizzier at the 36th slot as compared to its rival, Coca Cola, which makes its presence felt down below at the 60th slot.
Commenting on the launch of the Report, Dr. A.P.J. Abdul Kalam, Former President of India said: "I congratulate Trust Research Advisory on publishing a report on such importance. The depth of this report would help brands understand and improve Trust, the most essential bond in all relationships. The Brand Trust Report has brought up a very important aspect - that Corporate Social Responsibility is not an option for Brand Trust, but it is essential. I urge India's top corporate houses to recognize corporate altruism as an intrinsic component in the brand building process and treat this as a societal entrepreneurship venture rather than as a social responsibility."
Mr. Adi Godrej, the Chairman of Godrej Industries Ltd., (Godrej ranks at 22 on the Brand Trust Report) is quoted in the report as saying: "Trust as a value evolved to being more about empathy which helps the brand deliver powerful and innovative experiences to its consumers, and thus going beyond insights and products alone. Beyond legal rights, Godrej believes that the copyright of its brand is actually held by the millions of consumers, partners and employees in its ecosystem and is activated every time someone somewhere chooses Godrej."
The Brand Trust Report, India Study, 2011 is the result of years of detailed research to understand trust which included several hundred hours of discussions with communication experts and behavioural scientists. On this basis TRA created a proprietary Trust Matrix comprising 61 different components. Based on this proprietary Trust Matrix, TRA launched a syndicated primary research on Brand Trust across 9 cities in India covering 2310 respondents who were classified into the 'influencer' category.
The most intensive study on Brand Trust undertaken in the country, the study generated nearly 10,00,000 datapoints and 16,000 brands. Indian Statistical Institute helped create a statistically robust Brand Trust Index which has been used to hierarchically rank India's Most Trusted Brands.
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