We conducted an online survey to learn how Malaysian shoppers will respond to a Product of the Year (POY) logo for products and services.
Interestingly, about 260 respondents favoured a POY endorsement because it provides ease of choice and differentiates the winning product.
A stamp of approval like the POY logo makes a difference to every 8 out of 10 female respondents.
Full details below...
Key Learnings of Consumer Product Survey
The survey of 259 responses is targeting 23-65 years old married and in relationship female online respondents.
Which of below is your top frequent destiny for shopping groceries?
The top three most frequent destinies for shopping groceries is Tesco 63.71%, second and third are shared between Giant and Aeon Big (previously Jaya Jusco), 45.56% and 40.93% respectively.
What do you trust most about a brand of a consumer product?
When asked about what do they trust most given a few for comparison, as much as 56.76% trust recommendation from friends on social networking sites, TV advertising comes closest at 46.72%, Blog reviews by individuals has 44.02%, the stamp of approval or recognition from governing association or body is at 38.61%, journalist reviews on newspaper and magazine has 34.36%, online advertising scored 31.66%, at the bottom is celebrity endorsement, 8.11%.
When choosing a new product of a brand they haven't tried before, the factors that will affect the buying decision among the female respondents are:
When comparing 2 similar products of different brands they may or may not heard of, 45.56% say that a product with label of recognition from the governing body will definitely be better than product without the recognition. 33.98% think perhaps it's better product with stamp than without stamp, 20.46% are not bothered.
The general impression of a product with stamp of appr