This is not exactly new: parenting firms have always had an impact. It’s a part of product package. But the figures are good to know.
New research by my colleagues and me, however, suggests that another “P” is growing in importance. Customers also care who the parent of the product is.
70% of consumers surveyed in developed and emerging markets say they actively avoid products if they don’t like the parent company, and 61% say they get annoyed when they can’t determine which company owns a brand they’re considering, Leslie Gaines-Ross of public relations firm Weber Shandwick says in a blog post on HBR.org. Customers want their money to support companies that stand for integrity, Gaines-Ross says.