MUMBAI: Nokia is India‘s most trusted brand, according to a study published by Trust Research Advisory.
As part of the study, the philanthropic Tata was ranked second, followed by the Japanese electronics giant Sony at the third spot.
On the basis of a detailed research to understand trust, which included several 100 hours of discussions with communication experts and behavioural scientists, 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 nine cities in India covering 2310 respondents who were classified into the ‘influencer‘ category.
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.
The study is compiled into a 116-page report titled "The Brand Trust Report, India Study, 2011", which was launched yesterday.
Trust Research Advisory CEO of 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."
The study places Korean duo of LG and Samsung at the fourth and the fifth positions respectively, while Reliance brand stands sixth. Maruti drove in at the seventh position, followed by the state insurance agency, LIC. Airtel, dialed in at the ninth position, with Titan rounded up as the Top 10 of India‘s Most Trusted Brands at the tenth position.
"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," Chandramouli added.
According to TRA, Pepsi has once again come out fizzier at the 36 slot as compared to its rival, Coca Cola, which makes its presence felt down below at the 60 slot. Sachin Tendulkar occupied the 59th position while Mahatma Gandhi was at the 232nd slot.
Commenting on the launch of the report, Former President of India Dr. A.P.J. Abdul Kalam 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."
Godrej Industries chairman Adi Godrej whose company ranked 22 said: "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."
