Brandweek reports here about a 2006 study from Synovate, Chicago, in which more than 13,000 consumers in 20 countries were quizzed online, via phone or in person about their brand preferences across a host of categories.
“Branded international products are a mark of quality,” said Mike Sherman, executive director of customer insights for Synovate Asia, Hong Kong. “Even low-income consumers will pay a premium for a well-made, branded product.”
While 60% of respondents in emerging markets said they’d buy local products if they were the same price as an international offering, consumers often named brands like Avon, Coca-Cola and McDonald’s as their preferred choice.
China, the premier emerging market, has a taste for not only Bud, but also Coke and Kentucky Fried Chicken. Safeguard soap is also very popular, as are Sony TVs. Adidas, Armani, Chivas Regal, Lipton, Maybelline, Shell and 7-Eleven are among the brands with more Western appeal to appear among the Chinese most-preferred brands. “While some households in China’s rural cities pull in as little as $600 per year, they may still have a state-of-the-art cell phone. Their cost of living is very low so they have the disposable income. They are savvy consumers”, said Sherman.
Being able to purchase these brands equates success. They are aspirational. Where they’re coming from, they’ve hit the big time when they purchase these brands. For some, it’s not just the quality, it’s a symbol of achieving the highest level of lifestyle success.
