Consumers trust those brands that match or exceed their expectations. When a brand performs as a consumer expects, their trust increases. This brand trust produces brand equity which produces value in both the future purchase behavior of consumers as well as their likelihood of expressing positive word of mouth comments to others. Given the importance of brand trust, companies have begun to ask – do consumers trust their brand?
To answer the question of trust in brands, Lifestory Research conducted more than 10,000 surveys among residential consumers. These surveys were collected over the course of the prior 12 months. To qualify to participate in the study, participants must have indicated that they were aware of specific HVAC System brands. Participants completed several questions including motivational drivers, demographic characteristics, and brand equity measures. The brand measures include measures of brand awareness, quality, current brand in home, and trust.
To assess the Net Trust Quotient Score (NTQS) for each of the HVAC System brands, consumers were asked to evaluate how much they trust each of the HVAC System brands in the study. Consumers were asked: Based on anything you have seen or heard, what is your impression of the trustworthiness of the following brands? Responses could range along a 10 point scale of Very Trustworthy to Not Trustworthy. Net Trust Quotient Scores were then calculated based on how a consumer evaluated a specific brand along the 10 point scale.
Trust is measured through the Lifestory Research Net Trust Quotient Score. This score is based on the fundamental perspective that every organization’s customer can be divided into three categories: “advocates,” who feel a significant trust toward a given brand; “neutrals,” who trust a specific brand, but do not see a specific brand as standing on the shoulders of other brands in regards to trust; and “antagonists,” who are skeptics with little, if any, trust in a specific brand. Scores are standardized with 100 being equal to the overall average. Scores can array above and below the 100 point average.