MANILA, JANUARY 28, 2013 – The latest Nielsen data shows that Filipino consumers have a strong sense of brand familiarity – with about 80% Internet-savvy Pinoys choosing to purchase new products from familiar, more established brands rather than trying new brands.
According to Nielsen Philippines managing director Stuart Jamieson, introducing innovations on established brands already trusted by consumers can be a powerful strategy. While millions of dollars are spent on new product innovations, it takes three years until only two out of three make it to the market. Nielsen’s survey shows 77% of Filipinos welcome new product options, with 74% saying they will wait until a new innovation proves itself.
“In order for consumers to adopt new brands, marketers need to launch very strong awareness and trial-building campaigns, supported by a positive product experience," explains Jamieson. "It is vital that marketers generate positive word-of-mouth endorsements because negative experiences can significantly diminish the likelihood of new product success.”
60% of Filipino respondents also count challenging economic factors in affecting purchase decisions over new products. The survey showed that 53% say they prefer local over global brands, while 26% of respondents from Asia-Pacific say they do not favor local brands.
83% of Filipinos still trust word-of-mouth advice from family and friends, while 82% lists professional or expert advice as source of product information. Free samples (75%), traditional television advertising (72%) and active Internet searching (69%) remain influential.
The results of the Nielsen Global Survey of New Product Purchase Sentiment were gathered from 29,000 Internet respondents in 58 countries.
