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Milk and milk products brand Amul has emerged as India's Most Meaningful Brand in a study of Havas' Meaningful Brands 2015.
India's local brands like Amul take the lead with multinational corporations like Cadbury who introduce local brands to resonate with consumer context and tastes, locally, the study revealed.
Meaningful Brands – Havas’ metric of brand strength - is the first global study (in its sixth year globally and third in India), to show how our quality of life and wellbeing connects with brands at both a human and business level.
In India, ‘Food’ is one of the most meaningful sectors, attaining strong Attachment and Trust.
The study noted that in India, brands have a high level of meaningfulness and are seen as providers of Personal and Collective wellbeing; they are viewed as much more than functional products.
The research covers all aspects of people’s lives, including the impact on collective wellbeing (the role brands play in communities), in the personal wellbeing (self-esteem, healthy lifestyles, connectivity with friends and family, making lives easier, fitness and happiness) and marketplace factors, which relate to product performance such as quality and price.
Brands in India are also seen to be meeting consumers’ expectations more than in any other region. About 75 per cent of Indians believe brands should play a role in improving the quality of life and wellbeing. This ratio in the Asia Pacific region is 69 per cent and the global average is 67 per cent.
Among the top 10, Meaningful Brands 2015 in India were Amul, Cadbury, Google, Britannia, Life Insurance Corporation (LIC), Microsoft, Intel, HP, Parle and Samsung. Globally, the top 10 brands included Samsung, Google, Nestlé, Bimbo, Sony, Microsoft, Nivea, Visa, IKEA, Intel.
Asia Pacific and India Closer home in Asia Pacific the study covered 305 brands, 60130 people across 7 markets.
The study found that for every 10 per cent increase in meaningfulness, a brand can increase its purchase intent by 6.6 per cent, repurchase by 3.2 per cent and price premiums by 10.4 per cent, statistically demonstrating that a brand's meaningfulness is a key driver of KPIs success.
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