Sustainability of the business depends solely upon the brand and reputation of the company. Maintaining the brand value is essential for the company. To do that it is vital for the companies to build the market trust, as market trust is all about brand and the reputation.

“Trust is the key building block in the creation of a company’s reputation, and as a direct result, its shareholder value” – Robert Eckert, CEO, Mattel

Tata Group is one of the brands which is synonymous to Trustworthy brand in India. Tata Group has 23 brands in the 2019 TRA Brand Trust report, which is the highest by any group. The Group has time and again demonstrated their values, their excellence, and quality to their consumers and; consumers, in turn, have given their trust and loyalty to the products of the company. When you look at any Tata product its reputation precedes their products, the customers are aware that the products would be trustworthy and hence they won’t have any second guesses while buying it.

Every organization has its brand and reputation, which determines whether or not they are given the benefit of the doubt. If the brand is trustworthy, then it is relatively more comfortable for them to rebuild their image back, as the consumers are willing to give the company, they trusted a second chance. This was witnessed by the brand Cadbury, one of the most loved and trusted chocolate brands in India. In the year 2003 worms were found in some of the chocolate bars of Cadbury’s Dairy Milk chocolate. This news adversely affected the sales of the chocolates as children were their major consumers. Due to this unfortunate event, the bottom line of the Cadbury was adversely affected for the year ended December 2003; its net profit fell 37 percent to Rs 45.6 crore as compared with a 21 percent increase in the previous year. The company immediately went for damage control and brought new machinery which helped Cadbury in new packaging hence preventing similar incidents in the future. Global Icon Mr. Amitabh Bachchan became the brand ambassador who made people aware of the change in the packaging, which is more effective than the earlier ones. Slowly the brand sales started gaining momentum, and at present, it is among the top 10 turnover contributor for Mondelez India, parent company of Cadbury. This goes on to show that if the consumer love and trust a brand, it is willing to another chance.

In today’s competitive world, Market Trust has become imperative as consumers have multiple choices to choose from for the same products. Also, due to the outreach of social media, it has become essential to market their respective products as trustworthy to their savvy customers. Mr. Warren Buffet has rightly said, “It takes twenty years to build a reputation and five minutes to ruin it.” A trusted company has a better chance to regain the faith back as they have gained the trust and loyalty of its consumers over the years