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2009 Special Midyear Trust Survey

August 3, 2009
Overview

• Conducted a special abridged version of the annual Edelman Trust


Barometer. We surveyed 1,675 opinion leaders in six of the world’s largest
markets: China, France, Germany, India, UK and US.

• To gauge impact of last six months – the bankruptcies, bailouts,


nationalizations, and exec comp scrutiny-- on trust in business and brands:

• Has business regained its footing?

• Who are opinion leaders looking to for leadership to solve key societal issues–
business or government?

• What are the new expectations for business and its role in society?

• How do companies restore lost trust?

• How does trust – or the lack of it – affect product brand decisions?


January 2009
In U.S., trust in business was at lowest level, including post-Enron

How much do you trust business to do what is right?


20-point
60%
58% drop
US UK/France/Germany
55%
53%
51%

50% 49%
48% 48%
Enron, the dot-com bust
and September 11
45% 44% 44%

41%
40% 40%
38% 38%
36%
36% 34% 36%
35% 35%

32%
30%
2001 2002 2003 2004 2005 2006 2007 2008 2009

Informed publics 35-64 in the United States and UK/France/Germany


Responses 6-9 only on 1-9 scale; 9=highest

3
July 2009
Trust in business stable to up

How much do you trust business to do what is right?


Jan 09 Jul 09
100%

90%
+12
80% +11 75%
71%
70%
62% 60%
60%

50% 48% 46% 44%


41% 39%
40% 36% 34%
30%
30%

20%

10%

0%
US UK France Germany India China

The 12-point increase in U.S. includes the younger sample of 25- to 34- year-olds,
whose overall trust in business increased 26 points in six months.

Informed publics ages 25 to 64; responses 6-9 only on 1-9 scale; 9 = highest

4
Trust in government stable to up

How much do you trust government to do what is right?


Jan 08 Jan 09 Jul 09
100%

90%
+13
78%
80% +12 74% 72%
70%

60% 55%
50%
43% 42% 44% 44% 42%
40% 38% 38% 40%
40% 35% 34% 36%
30%
30% 26%

20%

10%

0%
US UK France Germany India China

The 12-point increase in U.S. includes the younger sample of 25- to 34- year-olds,
whose overall trust in government increased 24 points in six months.

Informed publics ages 25 to 64; responses 6-9 only on 1-9 scale; 9 = highest

5
Why? Tangible, quantifiable actions

Would you trust a company more or less if that company took this action?

Repaid bailout or loan money to the government 81%

Reduced CEO and executive pay 80%

Fired non-performing management teams 78%

Closed non-profitable business units 62%

Reduced marketing budgets 61%

Continued to spend money on philanthropy 58%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Informed publics ages 25 to 64


Responses 6-9 only on 1-9 scale; 9=highest

6
July 2009
The state of trust in six countries

How much do you trust each institution to do what is right?

NGOs Business Government Media


100%

90%

80% 78%
75%
70%
70% 67%
60%
60% 55%53%
51% 51% 52% 50%
50% 48% 46%
42% 44% 44%
41%40% 39% 39%
40% 37% 38%
35%
30% 28%

20%

10%

0%
US UK France Germany India China

Informed publics ages 25 to 64; responses 6-9 only on 1-9 scale; 9=highest

7
January 2009
In U.S., trust in every industry had declined; banks and automotive led the way
How much you trust businesses in each of the following industries to do what is right?
100% -33

90%
-27
2008 2009 80%
80%
73% 73%
69%
70%
64%
62% 63%
60%
60% 58%
54% 54% 54%
49% 50% 49%
50%
44%
42% 42%
40%
40% 36%
33% 33%
31%
30% 25%

20%

10%

0%

Informed publics ages 35 to 64; responses 6-9 only on 1-9 scale; 9=highest

8
Technology most trusted industry in five of the six countries

How much do you trust businesses in each of the following industries to do what is right?
100%
Technology 93%
88%
90% #3 in France 86% 84%
80% 81% (66%)
80%
72% 71% 72%
69%
70%
62%
60% 56%

50%

40%

30%

20%

10%

0%
US UK France Germany India China

Technology Food Healthcare Biotech/life sciences Retail Banks

Informed publics ages 25 to 64; responses 6-9 only on 1-9 scale; 9 = highest

9
But We’re Still
in the Middle of the Game
Reputation of MNCs struggling in West
How would you describe the overall reputation of large global businesses?

Reputation
rated good
71% 69% 30% 29% 24% 13% or excellent
100% 2%
5% 5% 1%
12% 10% 12% Excellent
90%
23%
25% 24%
80%

24% Good
70%
19%
60%
18%
59% 24%
59%
Neither good
50%
28% nor bad
22%
40%
29%

30%
Fair
37%
12%
20% 17%
34% 34%
10%
24% Poor
17%
10% 10%
0% 1% 1%
India China US Germany France UK
Informed publics ages 25-64 in six countries; Responses Excellent, Good, Neither good nor bad, Fair, and Poor

11
Business is not doing enough to help solve economic crisis

100%

90%

Has government Have global businesses


80%
intervened enough in cooperated enough with
70%
global business? government?

60%
55%

50%

40%
40% 38%
33%
30%

20%
20%

9%
10%
Right Right
Too much amount Not enough Too much amount Not enough
0%

Informed publics ages 25-64 in six countries; responses Too much, The right amount and Not enough

12
“The social
responsibility
of business is
to increase its profits.”
Milton Friedman, 1970
Stakeholder, not shareholder, world

How important do you believe the interests of each of the following stakeholders
should be to a CEO’s business decisions?
100%

90%

80%
70%
70%

60% 58%

49%
50% 45%
40%
40%

30% 26%

20%

10%

0%
Customers Employees Investors Society Local Government
Communites*
* Communities where the business operates
Informed publics ages 25-64 in six countries
Extremely important responses only

14
“Hard and soft” measures needed to rebuild trust
Would trust a company more or less for taking each of the following actions?

Treat employees well 94%


Keep producing quality products and services 93%
Transparent and honest business practices 93%
Communicate frequently and honestly 91%
Create and keep jobs 90%
Drive better innovation 89%
Make progress on environmental initiatives 82%
Partner with third parties to solve major global problems 82%
Increase profitability and performance 82%
Commit resources to the public good 81%
Reduce the gap between CEO and average workers pay 78%
Pay senior executives mostly in stock 75%
Communicate messages through multiple media channels 70%
Eliminate financial incentives for taking risks 70%
Discount pricing 69%
CEO appearances 69%
Increase shareholder value 66%
Protect profit margins 43%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Informed publics ages 25-64 in six countries


Responses 6-9 only on 1-9 scale; 9 = highest

15
Business expected to take on global issues

How important do you believe it is for business to do each of these things?

85% 84% 82% 80%


76% 75% 73%

Manage business Ensure efficiency of Create solutions to Cooperate with Provide access to Create solutions to Promote free trade
operations to ensure business operations reduce energy costs government to help affordable healthcare minimize global
companies survive solve the global warming
global economic crisis economic crisis

Informed publics ages 25 to 64


Responses 6-9 only on 1-9 scale; 9 = highest

16
But MNCs have not taken enough action

Have global businesses taken too much, the right amount, or not enough action on each of these things?

“NOT ENOUGH”
In U.S.: 62% In U.S.: 68%
71% 70% In U.S.: 65%
64%
In U.S.: 55%
In U.S.: 57%
55% In U.S.: 56%
52%
49%

Create solutions to Create solutions to Provide access to Cooperate with Manage their business Ensure efficiency of
minimize global reduce energy costs affordable healthcare government to help operations to ensure business operations
warming solve the global that their companies
economic crisis survive the global
economic crisis

Informed publics ages 25 to 64; not enough responses only


17
The Role of Trust
in Product Marketing
Informed publics more likely to switch brands because of
something positive they read, saw, or heard about that brand

Have you taken any of the following actions in relation to product or service brands that you use?

Switched brands because of something positive you read,


62%
saw or heard about that brand

Switched brands because another brand cost less 53%


In recession,
cost only
Switched brands because of something negative you
read, saw or heard about that brand
48% marginally
more
important
Switched brands because you stopped trusting a brand 45%
than trust
Lost trust in a brand because of poor financial
33%
performance of the parent company

Connected with a brand through a social networking site 29%

Informed publics ages 25 to 64 in six countries


Yes responses only

19
Quality, reliability, and past personal experiences most important factors in determining how
much one trusts a product or service brand

How important are each of the following factors in determining how much you trust a product or service brand?

Quality 96%
Reliability 94%
Past personal experiences 94%
Safety 90%
Value 88%
Company reputation 83%
Innovation 81%
Recommendation from friends or family 79%
Recommendation from a person like you 75%
Association with a good cause 68%
Recommendation from an expert 67%
Financial performance 59%
Positive media coverage 57%
Advertisements 42%
Endorsement by a public figure 39%
Endorsement by a celebrity 22%

Informed publics ages 25 to 64; responses 6-9 only on 1-9 scale; 9 = highest

20
Study conclusions

• Trust has either stabilized or risen, but we’re only in the middle
of the game

• Tangible, quantifiable corporate actions have led to trust rise – repaying


loans, cutting executive comp, firing poor management

• Moving from shareholder to stakeholder world

• “Hard and soft” measures rebuild trust – quality products, treating


employees well, transparency, frequent communication

• Business expected to partner with government and NGOs to address


economy, energy, environment, healthcare

• Trust plays key role in brand choices


The way forward for business

• No quick fix through a single set of actions: long-term proposition

• Play a broader role in society; collaborate more

• Balance investor interests with customer and employee interests

• Square mutual social responsibility and shared purpose with


profit-making strategy

• Communicate frequently and transparently


A Ten Year Overview of Trust

The 2009 Midyear Edelman Trust Survey was produced by research firm StrategyOne.

Methodology: The survey consisted of 15-minute telephone interviews from May 26 to July 3, 2009.
The survey sampled 1,675 informed publics in two age groups (25-34 and 35-64) in six countries:
U.S., U.K., France, Germany, China, and India. The respondents were college-educated, in the top
25% of household income per age group in each country, and reported significant media
consumption and engagement in business news and public policy.
U.S.: N= 500 (ages 25-34: n=100; ages 35-64 n=400)
China: N=375 (ages 25-34: n=75; ages 35-64 n=300)
U.K., France, Germany, India (per country): N=200 (ages 25-34: n=50; ages 35-64 n=150)

For more information on the Edelman Trust Barometer and to view past results, please visit
www.edelman.com/trust.

.
2009 Special Midyear Trust Survey

August 3, 2009

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