Korea Management Association Consulting (KMAC, President and CEO Han Su hee) has been measuring and analyzing data related to brand recommendation every year since 2008, selecting and announcing ‘the brand most recommended by consumers’. This presentation evaluates brand competitiveness in terms of 'recommendation' and measures 'consumer's level of brand recommendation' for products, services, and companies that represent consumer life in Korea. KMAC has launched a survey of 'the most recommended brands by consumers' in Korea.
In this survey, 11,900 men and women in their teens and 50s living in Seoul and six major cities were surveyed for a total of 77 industries (19 consumer goods, 20 durable goods, 38 service goods) in which consumer recommendations for brands were actively made. A one-on-one interview with consumers was conducted. In addition, social analysis was conducted on the top 1 to 4 brands by industry, and data in social media was aggregated, excluding advertisement posts, by setting search terms and negative words.
Strong brand recommendations this year include Kiturami Boiler (home boiler), Cheonil Express (express bus), AXA Direct Auto Insurance (Direct Auto Insurance), Madecassol (wound and scar treatment), Linea Life Insurance (Life Insurance), and Ceragem (Life Insurance). Home Appliances), KB Kookmin Card (credit card), POSCO E&C The Sharp (apartment), SK Seven Mobile (affordable phone), Hansol Education Mysterious Hangeul Country (infant education service), Shinhan Bank (bank), Rosen courier service (courier service), etc.
KMAC analyzed the survey results into four main categories. First, there was a clear increase in the recommendation index compared to the previous year in consumer goods, durable goods, and service goods. As the non-face-to-face era is unfolding in earnest due to the novel coronavirus infection (COVID-19) pandemic, it is believed that the online marketing strategy of companies led to a shift in consumers' perception of 'recommendation', which affected the recommendation index.
Second, looking at the results of the overall survey by industry group, the top 10 industries with high recommendation index were counted in various ways without distinction between consumer goods, durable goods, and service goods, while the information and communication industry centered on information technology (IT) was ranked in the bottom 10 industries. many were included. In particular, most digital industries closely related to daily life, such as mobile communication service, OTT service, and AI speaker, recorded low recommendation index, which seems to have been influenced by the fact that consumers had considerably high expectations for the latest IT.
Third, the industries with the greatest influence of word-of-mouth (word of mouth marketing) across all age groups were smartphones and brand chicken restaurants. The industries with different word-of-mouth transmissions according to the characteristics of each age group include theme parks for teenagers, hand sanitizer for those in their 20s and 30s, and long-term insurance for those in their 40s and 50s. In the case of teenagers, it seems that the word-of-mouth effect of theme parks appears to be high because the main target for which active energy is consumed is the experience of play. On the other hand, people in their 20s and 30s, who are sensitive to fashion and pay much attention to hygiene due to COVID-19, were interested in sanitary products as the rate of use of multi-use facilities was high. In the case of people in their 40s and 50s, the word-of-mouth effect was higher in the insurance product industry because they value ‘health’ from a long-term perspective compared to other age groups.
Fourth, according to the results of the analysis of recommendation sources by age, friend recommendation took up the highest proportion regardless of age. In particular, it was found that teenagers were most affected by relationship oriented recommendations. In the case of those in their 20s and 30s, as they spend most of their time at work, the percentage of word of mouth sources from co-workers was high. People in their 40s and 50s, the age group that owns and consumes the most assets in Korea, emphasized the ‘professionalism’ of recommendations. They had a higher percentage of recommended sources from store employees and industry experts compared to other age groups.
Ki dong Lee, head of KMAC’s Business Value Assessment Division, said, “As word of mouth effect on online media has a growing influence on consumers’ purchasing decision making, it is essential to set up an index for brand recommendation and prepare a management system that considers both online and offline channels.” “Positive word of mouth Along with nurturing brands for dissemination, we need to promote sustainable growth of the company from a long-term perspective.”
AXA Direct Auto Insurance Achieves Top-notch Recommendations with Customer-Centric Benefits
AXA Non Life Insurance (AXA Insurance) was honored to be ranked first in the direct auto insurance sector for the sixth consecutive year in the 2021 ‘Most Recommended Brands by Consumers’ survey hosted by the Korea Management Association Consulting (KMAC).
‘AXA Direct Auto Insurance’, launched for the first time in Korea in 2001, is a product that can easily handle car accidents anytime, anywhere with just a few touches on the mobile phone. It is well-received for its practical help that relieves customers of trouble, and call centers and 50 compensation centers located across the country perform prompt and efficient incident response to enhance customer convenience and satisfaction.
AXA Insurance is solidifying its position as a general non-life insurance company by launching general and long-term insurance products as well as auto insurance. In particular, based on the know-how of introducing a special policy for mileage discount for automobile insurance for the first time in Korea, it has also launched a mileage driver insurance product that includes the benefits of automobile insurance that reduces premiums according to the annual mileage, although it is driver insurance, and is getting a good response from consumers.
KB Kookmin Card is emerging as a ‘comprehensive financial platform’ company to lead an easy and convenient customer-tailored digital life as ‘the people’s happy life partner’.
KB Kookmin Card's open banking service, which started on May 31 of this year, enables account inquiry of 42 participating financial companies, including banks, as well as transfers and remittances through registered accounts, through KB Pay and LiveMate.
In particular, when remittance through KB Pay and the LiveMate app, the remittance fee is exempted until further notice. In addition, it introduced 'K-Bill Subscription Service', a regular subscription service platform that can search for a variety of subscription products and automatic payment services, and handle the entire process from application to status inquiry to regular card payment in a one-stop method. . This platform is characterized by increased convenience for customers by allowing users to collect and view regular subscription services that are closely related to customer life, such as daily life, books, and companion animals by product type, and to apply for services and inquire about the current status without switching to an affiliated company.
Environmental, social and governance (ESG) activities for sustainable management are also being actively carried out. In addition to the benefits of earning points for eco-friendly consumption, we launched the 'KB Kookmin Green Wave 1.5◦C' card, which allows you to donate the points accumulated through card use to eco-friendly public interest projects, and collaborated with the Ministry of Environment to target low-carbon elementary and middle schools across the country. It is also taking the lead in responding to climate change, such as supporting 1200 air-purifying trees with the effect of reducing fine dust to excellent schools by conducting the 'School Challenge', a daily practice campaign.
Innovative startups for win-win growth with startups, along with 'multilateral collaborative ESG activities' to support vulnerable children by purchasing health, hygiene, and education-related products made by social enterprises suffering from the novel coronavirus infection (COVID-19) The 5th project of FUTURE9, an excavation program, is also in progress.
It is also striving to accelerate ESG management for win-win growth and win-win growth in various fields, such as issuing USD 300 million in foreign currency denominated sustainable bonds for the first time in its bond issuance history.
An official from KB Kookmin Card said, "We will continue to strive to become a brand loved by customers through the provision of customer-oriented products and services and ESG activities for an easy digital card life."
Founded in 1949, Cheonil Express has been dedicated to the express bus transportation business for over 70 years. customer satisfaction
In order to provide services that lead to customer satisfaction, systematic crew training is being conducted and safe driving techniques are being passed on. In addition, a dedicated team for vehicle maintenance and customer service is being operated to provide faster and more accurate service response.
Thanks to these efforts, Cheonil Express received excellent results in all areas of the 'Management and Service Evaluation for Public Transportation Operators' conducted by the Ministry of Land, Infrastructure and Transport and Korea Transportation Safety Authority in December 2019 and received the 'President's Award' of honor. It was the splendor of winning the award. In addition, in June of this year, it provided free Wi-Fi (unlimited) service for all vehicles for the first time in the express bus industry, and is receiving a great response from users who have increased their viewing of non-face-to-face video content in the post-corona era.
An official from Cheonil Express said, "We will do our best to be reborn as a messenger who takes the first step to a destination rather than a simple means of transportation, connects people, and accompanies love, joy, and excitement."
