Thursday, January 30, 2014

Brands are finding it hard to adapt to an age of scepticism

Schumpeter - We want to be your friend


In Western societies particularly, respect for traditional voices of authority—from priests to political leaders—has eroded. So has their faith in brands. Havas Media, a big marketing agency, says trust in them has been declining for three decades. Last August it published the latest in a series of worldwide surveys, in which 134,000 consumers in 23 countries were asked what they thought of 700 brands. A majority of those taking part would not care if 73% of them just vanished. In Europe and America 92% would not be missed. Only in places like Asia and Latin America, with lots of newish consumers, is there a bit more attachment to brands, though Havas Media reports that it is declining there too.