In Marks & Spencer We Trust
Your store name as a brand
Never underestimate the power of branding. According to a recent study
in Britain, consumers have more faith in some brand names including
names of well-known retailers than they do in the police or judiciary.
A study by the Henley Center, a British forecasting organization, showed
four out of five consumers trusted Marks & Spencer to be honest and
fair. Three in four said they trusted the retailer J Sainsbury. This compares
with just three in five and two in five who said they trusted the police
and judiciary, respectively.
According to the Financial Times of London, the Henley Center
believes trust in some retailers is strong enough to support their expansion
into areas having nothing to do with their core businesses even into
services such as housecleaning.
The central message of the study: brand-building is too important to
ignore. "Brand management is becoming synonymous with 'trust management,'
demanding strategic attention at the top of the organization."
Copyright © 1998 by Bond Communications.