Summary |
Trust is the very basis of social and business life. When it breaks down, it brings life, as we know it, crumbling down. Since the brand trust report (BTR), India study, 2011 was published last year, several global events have shocked and rocked the world. The worldwide financial crisis is evident when we see small countries succumb and go under, and when the largest countries of the world show no signs of recovery from their moribund intensive-care condition. Companies considered ‘too large to fail’ have failed and business leaders with impeccable records have been found indulging in questionable practices. Those businesses, governments, media and leaders, who chose the short-cut, and yielded to the lure of lucre and power, have caved in. trust was thus eroded, creating a new band of skeptics, those who lack belief in everything, even themselves.
However, while some brands have dropped precipitously in their brand trust rankings in this year’s brand trust report (BTR 2012) since last year, others have gained immense trust among their stakeholders during the same time. The prescient brands which have climbed steadily even in the bad times have done so by providing sharp focus and intense value to stakeholders. When attempting to build and buttress brand trust, the more trying the circumstances, the better the opportunity to build and establish trust. This report reflects the trust in stakeholders as of November 2011, the fieldwork for BTR 2012 concluded in that month, and the events that occurred after this time will not be reflected in the audience perceptions.
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