For the past 24 years, the Reader’s Digest Most Trusted Brands survey has uncovered India’s most trustworthy brands and this study has established its reputation as a premier consumer-based and international measure of brand preference. The study primarily focused on finding out which brands Indians trust the most. It provides an objective and reliable reference for consumers throughout the country. It shows which brands stand out above others by consistently delivering on promises to satisfy their needs, deliver quality and has a positive image. Marketing and Development Research Associates (MDRA), a premier research organization with significant expertise and experience in ranking/ rating in various domains has come up with this year’s Most Trusted Brands (MTBs) of India under 34 product categories. The study was administered in the following phases – 1) Listing of Categories & Brands – An extensive desk review of MDRA’s database and potential sources of reliable data was conducted by an experienced team of researchers. 34 prominent and most relevant product categories were selected for the consumer survey. Brands within these categories were researched, listed and deliberated with the research and editorial team. These brands were then used as Showcard during the survey. The list of product categories is as follows –
|1||Auto - 4-Wheelers|
|3||Banks - Nationalized/ Public Regional|
|4||Banks – Private|
|8||Consumer Durables – AC|
|9||Consumer Durables – Fans|
|10||Consumer Durables - Vacuum Cleaner|
|11||Consumer Durables - Water Purifier|
|12||Consumer Durables - Lighting|
|13||Credit Cards – International|
|14||Credit Cards- Indian Banks|
|17||FMCG - Packaged juice|
|18||Food Products - Cooking Oil|
|20||Freight and Courier|
|21||Health Supplements/ Vitamins|
|22||Insurance – Life|
|27||Modular Windows and Doors|
|32||Pickles and Sauces|
|34||FMCG - Oral Care (Toothpaste)|
2) Brand Trust parameters and their weights – Brand’s trust was assessed on the following 4 parameters. The relative weights of the parameters were finalized using OLS regression method –
a. Reliability and Quality – Consistent Performance, higher perceived quality
b. Value Proposition – Purchase cost, maintenance, and usage cost
c. Usability and/or need fulfilment – Adequate features and ability to fulfil needs
d. Recommend & Repurchase – Recommending brands to others and re-purchase when needed
The weights were derived for each product category and accordingly were used to arrive at the final weighted score.
3) Field survey – Looking at the broad objectives of the study, a stringent sampling procedure was required to be followed. To adhere to this, MDRA has used its unique sampling design process throughout the sampling process of this study based on its 3 ‘S’ sampling criteria. The 3 ‘S’ stand for –
Size of the sample
Spread of the sample
Selection of respondents
The respondents have been selected randomly to prevent any bias creeping into the samples. A structured questionnaire was administered to the respondents by experienced and trained investigators of MDRA through quantitative Face to Face and Telephonic interviews.
The survey was conducted among 4100 purchase decision-makers across Socio Economy Class A (SEC-A) in 20 cities of India. During the survey, respondents were asked to select top-5 brands in selected categories and rate brands on 4 parameters basis their knowledge, experience, and perception on a scale of 1 to 10 where 1 = Very Poor and 10 = Excellent. Further, respondents were asked to show their awareness level w.r.t the top-5 selected brands on the following lines –
a. I am aware of this brand and know little about it
b. I am aware of this brand & know it quite well
c. I am well aware of this brand and have used it
4) Brand Trust Index – Trust Score was arrived at by taking the weighted mean of the rating on all 4 parameters. In addition, the brand trust based on awareness level and usage experience has been given higher weightage than those based solely on perception or little knowledge. Awareness level scores were multiplied by the final weighted trust scores to arrive at Brand Trust Index.
A large research team led by Abhishek Agrawal (Executive Director), Abnish Jha (Project Director), Vaibhav Gupta (Asst. Research Manager) and Manveer Singh (Executive-EDP); assisted by statisticians and econometricians worked on this study from June to August 2022.
2.1 City-wise sample size achieved w.r.t gender and age-group
Table 2.1: City-wise, sample size achieved w.r.t gender and age-group
2.2 Education-wise sample size achieved
Table 2.2: Education-wise total sample size
|S. No||Highest Education||Frequency||Percent|
|3||HSC (Class 12th)||804||19.5|
2.3 Occupation wise sample size achieved
Table 2.3: Occupation-wise sample size achieved
|Service (Govt. Employee)||239||5.8|
|Service (Pvt. sector Employee)||1277||30.9|
2.4 Monthly Household Income-wise sample size achieved
Table 2.4: Monthly Household Income-wise (in Rs.) total sample size
|Monthly Household Income (in Rs.)||Frequency||Percent|
|25,000 to 50,000/-||1701||41.2|
|50,001 to 75,000/-||1688||40.9|
We have followed a multistage sampling: at the first stage, any major factors that could cause sampling errors have been controlled through an appropriate selection process. The respondents were randomly chosen. This is an adaptation of queuing theory where randomization is built into the system. Above all, the total sample size achieved was 4132 and this number is sufficiently high to ensure that the overall sampling error is low.
In view of the above, the confidence level is 95% with ± 1.52% error of margin.
Note: All percentages in output tables have been rounded off to one decimal place, which may result in rounding off errors while adding the total percentage.
For the past 24 years, the Reader’s Digest Most Trusted Brands survey has uncovered India’s most trustworthy brands and this study has established its reputation as a premier consumer-based and international measure of brand preference.Read More...
For the past 24 years, the Reader’s Digest Trusted Brands survey has uncovered India’s most trustworthy brands...Read More...