The Hindu Business Line : CNBC Awaaz consumer awards on Aug 24

Chennai, Aug. 22 It’s habit that drives preference in the FMCG category; in consumer durables, it’s trust. A financial services company that adapts to the changing needs of its customer is favoured, and it’s hygiene that’s the key driver in the choice of outlets for food and coffee.

A CNBC Awaaz-ICICI Bank Credit Cards survey to study the motivation behind brand preference and judge the best brands in a number of categories also found that consumers in the metros are driven more by the attributes of knowledge level of professionals and the level of customer orientation rather than just the basic expectations of return on investment and value for money, says a spokesperson for the channel.

The study for the CNBC Awaaz Consumer Awards 2007 also found that in the North zone, as compared to other zones, there is a greater tendency to choose brands because they are seen as enhancing social status. This results in consumers preferring foreign brands to Indian ones. Those in the mini metros, in contrast, prefer to save for a rainy day. The East gives more importance to trust, value for money and quality when choosing brands.

Nielsen conducted this survey in 34 cities (metros, mini-metros and class I towns), among 10,000 respondents aged 20-60 in various socio-economic groups. Forty-two categories of products and services that also include automobiles, telecommunication services and travel were taken into account. The objective of the study was to arrive at a list of the ‘most preferred brands’ in each category. The awards will be announced at a ceremony to be held on August 24 in Mumbai. This is the third consecutive year that the awards are being presented.

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