Most trusted and least trusted brands
The top seven brands in Australia are tech brands, reported Brand Asset Consulting in their 2010 Brand Asset Valuator (BAV).
Previous favourites such as Tim Tam, Coca-Cola, Kit Kat and Nike have slipped down the rankings, making room for Google as Australian’s top trusted brand. FHM made the top of the list for the least favourite brand in Australia.
Overall however, consumer brand loyalty has dropped from 40% in 2000, to 9% in 2010. According to BAV research director David Evans, “Brands that are seen as betraying consumer’s trust, that don’t deliver on value and customer service, are being punished.”
“Toyota and BP had a shocking year with their product recalls and the Gulf oil spill while Australians proved that they were not-so-happy little Vegemites with the disaster that was iSnack. And chocolate brands which boomed as the GFC made us all depressed, are being cut from our list of favourite indulgences as we’re feeling a lot more relaxed and comfortable,” Evans added.
Evans explained that over the past year, too many brands have become commodities. “Most don’t stand for anything; they look and feel the same, which is causing consumers to choose brands based on price or convenience.” This places marketers in a tough position, as they are forced to discount and bundle products.
On the other hand, brands such as Google, Apple. Virgin and Red Bull are capitalising on sales by being original and providing good customer service.
The study included 1000 brands covering 120 different categories, with over 2000 Australian consumers surveyed on-line
See below for the top ten trusted and least trusted brands:
BAV 2010 TOP 10 BRANDS
- Google (search engine)
- Google (portal)
- Microsoft (office)
- Apple iPhone
BAV 2010 LEAST TRUSTED BRANDS
- Star City
- Nutrient water
- Smart water
- Tiger Airlines