In Marks & Spencer We Trust

April 1998

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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.


 

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