The Importance Of Trust And Its Effect On Our Lives

1078 Words5 Pages
Introduction Trust is very important to us in our daily life. We rely on trust and it is the origin before we start to establish the relationship with others in this society. The trust is more like an intangible asset or advantage for us. As human being, if we lost trust with our friends, we will lose more than one of them because they will tell others that you can’t be trusted. If we lost trust with our bank, they will not give you credit anymore and your credit rating will decrease and this will give a domino effect. For example, you may not find a dream job or this might make passive impact to your careers. As today we live in a competitive world, high competition exists in every industry. The companies must have their competitive advantages so that they can gain more shares, profits and a strong market position among the consumers. The brand trust might be a competitive advantage for the company. A recent research of brand trust by LinkedIn (2009) found that, when the consumers start to trust a brand and become to loyalty customers, 83% of them will highly recommend the brand to their family members and friend, 78% of them will try the brand’s new product or service and 50% of them will more for the brand’s product or service even there are some more cheaper products by other brands in the market. From the research we can see that the trust to a brand will highly influence the company’s operation and product development. The company who want to success
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