For Indians, Samsung Is The Most Trusted Brand
South Korean electronics major Samsung is touted as the most trusted brand in India, followed by Sony and Tata, says a as per the Brand Trust Report 2014.
This is indeed a gain for Samsung, which secured a second position in the same survey last year. According to analysts, it clearly shows how Samsung is turning out to be the most preferred and reliable brand in the country.
What is working in the favor of Samsung in India is perhaps its wide range of phones and availability of cheaper options, believes market analyst Rajiv Batra. “While Indian consumers have also started looking for feature-rich phones, cost is big consideration for them. If users get most of the features in a less expensive and equally reputed brand, they would certainly opt for it,” he says.
A TCS survey published by the end of 2013 also showed that Samsung is emerging as the most preferred brand among Indian students and youngsters, who also prefer social networking tools, over SMS and voice calls, as the primary method to communicate with friends. In the enterprise segment too, its products always maintain certain level of standard.
Samsung is currently quite bullish about the Indian market, and declared a price slash on several of its product as a strategy to boost sales. For example, keeping in mind the expanding market of wearable gadgets in India, Samsung has slashed the price the Galaxy Gear smartwatch in the country very recently. This is an area where its archrivals often fail. Therefore, even though tech enthusiasts have a liking for Apple, the company has not been counted as the preferred brand in the country mainly due to its high price tag on every product.
Notably, Sony which ranked third last year, came up to the second position and Tata moved from fifth to third position this year, the report said. Another South Korean firm, LG has been ranked fourth in the list. Finnish telecom equipment and handset maker Nokia is placed at fifth.
On what makes a brand most trustworthy, branding consultant Jim Stengel and author of “Grow: How Ideals Power Growth and Profit at the World’s Greatest Companies,” point out that the most trustworthy brands have created relationships with consumers through experiences that trigger a instinctive response.
“We’re seeing more of an emphasis on brands building emotional relationships with consumers because it’s powerful and it works. When you do it, you have a much stronger affinity, a much stronger business, much stronger growth and much stronger results,” he says in an interview with enterpriser.in.
“When a brand focuses on its trust with intensity, apart from trust the brand gains in market-share, product premium and acceptance of new products as an automatic by-product,” said TRA CEO N Chandramouli.
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