Global Executives Survey: Ways to build Trust through Packaging

Global Executives Survey: Ways to build Trust through Packaging

Category : Consumer Goods
January  2016  Pages : 30



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Summary
Although organizations face difficulty in convincing consumers about health claims, product safety, and claims of effectiveness, they believe that brands have effective strategies to build consumer trust in quality claims and product safety. As increase in trust is expected to boost revenues, organizations are using clearer labeling and adopting stringent production processes to increase product trust. FMCG organizations believe that product quality, brand heritage, and tamper proof packaging are among the preferred approaches to drive product trust.

Key Findings
- Despite being difficult to convince consumers about quality claims, brands feel they have effective strategies in place to develop trust

- Persuading consumers about product safety is rated more difficult by medium-sized companies than small companies

- Over two-third of respondents indicate that increasing trust has significantly helped to boost revenues for their organizations

- Convincing consumers about product safety and health claims is very difficult for FMCG organizations

- Brand strategies are adequate to develop consumer trust in quality claims and product safety 

- Organizations are using clearer labeling and adopting stringent production processes to increase product trust

Synopsis
Canadean's Global Executives Survey: Ways to build Trust through Packaging examines executives' opinion about effectiveness of trust promoting measures and assess challenges encountered in convincing consumers about claims. Moreover, organizations can evaluate the impact of increase in trust on revenues, determine effectiveness of brand strategies in building consumer trust and, know about the measures taken by organizations to increase it. 

What else does this report offer?

- Impact level of increasing trust on boosting revenue: determines the expected effect of surge in trust towards increasing revenue

- Level of difficulty faced in convincing customers: examines the challenges faced in persuading customers about the claims

- Significance of brand strategies in strengthening customer trust: evaluates effectiveness of brand strategies in building customer trust

- Effectiveness of methods used for promoting product trust: determines the usefulness of approaches adopted for boosting trust about products

- Measures adopted to drive product trust: know about steps taken to increase product trust

Reasons To Buy
- Organizations can boost revenues by understanding the impact of increasing trust on revenues 

- Organizations can improve marketing, communication and customer relationship by knowing about claims where it is difficult to convince consumers 

- Organizations can further strengthen consumer trust by knowing about most effective ways to promote trust

- Organizations can develop effective brand strategies by knowing about areas where brands are not so efficient in promoting consumer trust
Table Of Contents
1 Introduction
1.1 Definitions
1.2 Methodology and sample size
1.3 Respondent profile
1.4 Canadean's view
1.4.1 Organizations see improving trust as a way of increasing revenue
2 Brands believe that increasing trust among consumers is financially beneficial
2.1 Impact of surge in trust as a means of helping increase revenue
2.1.1 Over two-thirds of respondents stated that increasing trust has significantly helped in boosting revenues for their organizations
2.2 Level of difficulty faced in convincing customers about the claims
2.2.1 Convincing consumers about health claims and product safety is difficult for FMCG organizations
2.2.2 21% of executives operating in Asia-Pacific believe that convincing consumers about health claims is challenging
2.2.3 Persuading consumers about product safety is rated more difficult by medium-sized companies than small companies
2.3 Significance of brand strategies in strengthening customer trust
2.3.1 Brand strategies are adequate to develop consumer trust on quality claims and product safety
2.3.2 45% of respondents in North America say that they have effective strategies in place to build consumer trust on product safety
2.3.3 Over one-third of respondents from small companies believe they have effective strategies to strengthen consumer trust on quality claims and product safety
2.3.4 Despite it being difficult to convince consumers about quality claims, brands feel they have effective strategies in place to develop trust
3 Brands feel the most effective way of promoting trust is through the quality of their products
3.1 Effectiveness of methods used for promoting product trust
3.1.1 Product quality is the most effective way of promoting trust in the product, while brand heritage and tamper proof packaging are also effective measures
3.1.2 More than half of executives in North America believe that a high quality product helps strengthen trust in their product
3.1.3 Use of brand heritage for promoting trust about products is preferred by smaller companies
3.1.4 Respondents with business operations in the Asia-Pacific highlight advertising campaigns as the least effective method for driving product trust
3.1.5 Selling through established retailers and the use of social media are the least preferred approaches for promoting product trust by large companies
4 Clearer labeling provides transparency to consumers, enhancing trust in the product
4.1 Measures adopted to drive product trust
4.1.1 Organizations are using clearer labeling and adopting stringent production processes to increase product trust
4.1.2 Over three-quarter of respondents with business operations in Asia-Pacific highlight focus on improvement in packaging to drive product trust
4.1.3 Use of clear labeling is preferred more by small companies when compared to large companies for promoting product trust
5 Appendix

List Of Tables
N/A

List Of Figures
Figure 1: Profile of Respondents
Figure 2: Canadean's view
Figure 3: Impact level of increasing trust on boosting revenue - Overall
Figure 4: Level of difficulty faced in convincing customers about the claims - Overall
Figure 5: Level of difficulty faced in convincing customers about the claims - By region
Figure 6: Level of difficulty faced in convincing customers about the claims - By size of business
Figure 7: Effectiveness evaluation of brand strategies in building customer trust - Overall
Figure 8: Effectiveness evaluation of brand strategies in building customer trust - By region
Figure 9: Effectiveness evaluation of brand strategies in building customer trust - By size of business
Figure 10: Comparison between the areas where it is difficult to establish trust and areas where there are most effective strategies to establish trust
Figure 11: Usefulness of approaches adopted for boosting trust about product - Overall - Top three responses
Figure 12: Usefulness of approaches adopted for boosting trust about product - Analysis of top three responses by region
Figure 13: Usefulness of approaches adopted for boosting trust about product - Analysis of top three responses by size of business
Figure 14: Usefulness of approaches adopted for boosting trust about product - Analysis of least three responses by region
Figure 15: Usefulness of approaches adopted for boosting trust about product - Analysis of least three responses by size of business
Figure 16: Steps taken to increase product trust - Overall
Figure 17: Steps taken to increase product trust - Analysis of top three responses by region
Figure 18: Steps taken to increase product trust - Analysis of top three responses by size of business
Enquiry Before Buy
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