High-street retail giant Marks & Spencer has topped a poll for the company with the best reputation.
The survey, conducted by YouGov on behalf of business lobby group the CBI, reveals the 10 companies UK consumers say have the best reputation. At the top of the list of unprompted replies is Marks & Spencer, which gained almost twice as many mentions as the next highest, John Lewis Partnership – itself closely followed by the Virgin Group.
The next three highly rated companies were Tesco, Sony and ASDA, with Amazon, Apple, Boots and then the BBC completing the top 10.
And reputation pays out, with over half of consumers paying a premium to the company they believe has the best reputation, even if they can buy a product or service cheaper elsewhere.
Excellent customer service was cited by almost half of all survey respondents (48 per cent) as the characteristic that most helps a firm build its reputation. Another third (36 per cent) said that products and services that always live up to expectations mattered most. Just 7 per cent said a good reputation was down to being a good employer while 4 per cent attributed it to brand appeal.
Commenting on the findings, Richard Lambert, the CBI’s director-general, said: “What comes through in our survey is that great reputations rest or fall on delivery. Whether the promise is of quality, fun, value or luxury, the 21st century customer is savvy enough to sniff out and avoid the shoddy or disappointing. Environmental credentials and social responsibility are also becoming increasingly more important to consumers’ purchasing decisions.”
Overall, a large majority of the public (82 per cent) felt that companies must work harder at restoring their reputations.
A total 1,960 consumers were quizzed as part of the survey.
