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TUESDAY, MARCH 16, 2010                                                       A WEEKLY E-NEWSLETTER COMPILED BY SAM GEIST
MARKETPLACE LESSONS

At a time when all marketers are looking for ways to increase their value, encourage loyalty and garner customer trust, Nestlé offers a powerful how-to lesson.

To date they have created 19 unique only-in-Japan flavors for Kit Kat, one of the best-selling chocolate candy bars in the world.

Nestlé has taken product localization to an extreme--the Japanese customers enjoy flavors like soy-sauce and wasabi flavored Kit Kats--and Nestlé enjoys being the No. 1 confectionery brand in Japan.

Take a page from Nestlé's strategy.

Look to your local markets, and build value by offering unique products and services for them.  It's certain to deepen brand loyalty and trust.

LESSON LEARNED:
"Always be on the lookout for great ideas and adapt them to your situation to grow your brand."
-Sam Geist

THE STATS


Last week's QuickBites included some noteworthy statistics about "trust in the marketplace."  It's worthwhile to include several additional sources featuring information about the state of trust in today's (global) marketplace.

In a survey of consumers in 22 countries:
  • 54% of respondents said they trusted business to do what is right (up from 50% last year)
  • 54% of U.S. respondents said they trusted business to do what is right
    • up from 38% a year ago
    • down from 58% in 2008
  • In the 2010 survey, the top indicators of a trustworthy company were:
    • offers high-quality products and services
    • has transparent and honest business practices
  • Top indicators three or four years ago:
    • a great CEO
    • make great products
    • hit the numbers (make marketplace predictions)
  • The educated public is becoming more trusting of social media as a source of information for making purchases.  Trusted sources include:
    • 47%, reports from industry analysts
    • 42%, business magazines
    • 19%, social networking sites (up from 16% last year).
--BusinessWeek

To read the informative article from which these stats were taken see second SITE SEEING link below.

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New research rated trust and brand equity ratings in different marketplace areas.  No matter where a marketer fits into the marketplace consumer trust translates into value capitalization for them.

For non-profits, the highest five organizations ranked in trust:
  1. St. Jude's Research Hospital (for the 4th year)
  2. Susan G. Komen for the Cure
  3. Mayo Clinic
  4. Cleveland Clinic
  5. Doctors Without Borders
Five highest-rated brands among consumers in 2010 (there must be trust as a factor in this loyalty of customers);
  1. Hershey's Kisses Chocolate Candy
  2. M&M Plain Chocolate Candy
  3. Hershey's Milk Chocolate Candy Bars
  4. Google.com
  5. Duracell Batteries
--Harris Interactive

Read the press releases from which this research was taken:
http://news.harrisinteractive.com/profiles/investor/ResLibraryView.asp?BzID=1963&ResLibraryID=36598&Category=1765

http://news.harrisinteractive.com/profiles/investor/ResLibraryView.asp?BzID=1963&ResLibraryID=36415&Category=1765

THE QUOTES
 
"We are so accustomed to disguise ourselves to others that in the end we become disguised to ourselves."
-Francois de La Rochefoucauld
(1613-1680)
French author, moralist

 "The best leaders recognize that trust impacts us 24/7, 365 days a year. 
It underscores and affects the quality
of every relationship, every communication, every work project, every business venture, every effort in which we are engaged. 
It changes the quality of every present moment and alters the trajectory and outcome of every future moment of our lives -- both personally and professionally.  I am convinced that in every situation, nothing is as fast as the speed of trust."
-Stephen M.R. Covey, author of
The Speed of Trust:  The One Thing That Changes Everything

To read the article from which this quote was taken see first SITE SEEING link below.


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"Doing More With
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A New Program on 
Managing in
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We'd love to hear from you.
   Please email your
comments or suggestions to  samgeist@geistgroup.com
SITE SEEING
Another excellent article on the how to build much needed trust in the workplace.
http://www.jobacle.com/blog/2009/3/5/how-the-best-leaders-build-trust.html

Take a look at this article about the Edelman Trust Barometer.
http://www.businessweek.com/bwdaily/dnflash/content/jan2010/db20100126_231956.htm
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Reproduction for publication is encouraged with the following attribution:
From "QuickBites," by Sam Geist.  (800) 567-1861     http://www.samgeist.com

Sam Geist lectures, facilitates workshops and conducts training seminars on sales & marketing, the changing marketplace, leadership, differentiation, customer service and staff motivation.  His three books, "Why Should Someone Do Business With You... Rather Than Someone Else?" "Would You Work for You?" and "Execute... or Be Executed" are available in bookstores everywhere, published by Addington & Wentworth Inc.
 
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