Interesting world view study on how consumers perceive company values

[Kay]

There's actually more similarities than not in this between some of the countries and what struck me when I read the second point I highlighted here was how important the role of having a well managed, positive presence is online. Consumers understand that companies need profitability but they want things to be above board as well. I think the business world has tended to underestimate just how much attention consumers pay to how they operate before giving them business.



Additional key findings from the study include:


* Consumers globally say they can tell a lot about a company’s values by observing how the company handles a crisis or problem. In fact, how companies and executives handle a crisis is the number one indicator of values in the US (84%), the UK (66%), Sweden (81%) and France (64%) – but not China (48%) or Italy (60%). First-hand experience with a company’s products is ranked first in China (57%), and ties for first in Italy (62%), along with interacting with a company’s employees.

* The Internet is key for communicating values: About half of consumers in all six countries surveyed cite the Internet as a key means for companies to communicate their values with consumers. In the US, 59% of consumers said they could tell a lot about a company’s real values by searching blogs, message boards and other sources of information on the Internet, followed by Sweden (52%), China (51%), France (47%), Italy (46%) and the UK (45%).

* Americans say that being first to market is not necessarily a characteristic of a leading company: The American public believes that leading companies focus on quality (82%) rather than price (18%), and than an emphasis on making existing products better (78%) trumps being first to market (22%). Also, exactly half (50%) of US consumers believe that leading companies support causes even when struggling, while the other 50% believe leading companies support causes only when they are secure.

* Leading companies are ethical, innovative and financially successful, Americans say: A large majority of Americans believes “a lot” or “some” that, today, the phrase “leading company” typically refers to companies that are the most innovative when it comes to new ideas, products or services (84%), the most financially successful (78%) or have the largest market share (71%). But they also agree that this phrase refers to the most ethical companies that treat employees well and are careful about their impact on society and the environment (76%).



The report in full (http://www.earthtimes.org/articles/show/in-turbulent-economic-times-some,665825.shtml)

Do you agree or disagree with the perceptions?

[scifi]

The consumer attitude, approach & evaluation of a company depends basically on the culture differences of the country because that is the main thing that affects consumer buying behavior or their psychology. In india, 3 & 4 th points may apply to certain degree.. but 1 & 2 points will not find any ground!!!!!

[Nazreen]

I'd have to agree too especially on points 1 and 3.

As for point 2 regarding the use of the Internet in communicating values, I think that this is a bit tricky in sifting through all the information on blogs, forums and review sites. It's quite hard to check the correctness and validity of these information but I guess that a good rule of thumb is to take the general view of the majority.

As for point 4 regarding leading companies being ethical, I'd also have to disagree on this. It doesn't mean that a company is successful that they're already ethical. A leading company might have gained it's success through unethical means.

[Fergal]

Would green issues be a good example of this?

As consumers become more environmentally aware, they are less likely to purchase goods and services from companies that are irresponsible when it comes to doing their bit to minimise environmental damage.