Honda, SM, Shell, Samsung and Silver Swan among products and services viewed by Filipinos as best value for money
Filipinos see products and companies such as Honda, SM, Shell, Samsung and Silver Swan as the top in their categories to offer the best price–quality ratio in the market today.
These are the findings of the first Best Buy Award research survey in the Philippines, conducted this July 2015 by the Swiss organization International Certification Association GmbH or ICERTIAS. The organization measures citizens’ experiences and satisfaction with the price–quality ratio of marketed products and services.
The research encompassed about 50 different non-economic and economic categories in such sectors as retail, food, footwear, clothing, cosmetics, home appliances, telecommunications, finance, and other segments. Respondents were asked what they felt represented the best price–quality ratio, i.e., the best value for their money, according to their personal experiences with specific products or service categories in the Philippine market.
The brands and companies which received the highest votes include SM (Supermarket Chain category), San Miguel (Beer category), Samsung (smartphone), Honda (family cars), Selecta (ice cream), Silver Swan (soy sauce) and Shell (petrol station).
Established research method
An independent market research based on international standards, the Best Buy Award survey consists of open-ended questions, wherein examinees could freely state the names of products and service providers that, based on their experiences, offer the best value for money. For example, the question for the instant noodles category was: “Which instant noodles producer in your personal experience offers the best price-quality ratio in the Philippine market?” Most respondents answered this question with “Lucky me!”
The Best Buy Award research, though, does not measure brand equity or market share. The customers’ experiences, opinions, satisfaction, and perceptions are exclusively used to gauge the price–quality ratio of goods and services in the market based on their personal experiences.
Methodology and Sampling
The 2015/2016 Philippines Best Buy Award research survey was conducted by ICERTIAS using a sample of 1,200 Filipino citizens over the age of 15 who are Internet users. The survey used a web questionnaire that followed the Computer Assisted Web Interviewing – Deep Mind Awareness (CAWI – DEEPMA) method.
Now more than ever, buyers are looking for better value for their money. When making final purchasing decisions, customers compare the price and quality of products they are considering. The ratio between a good price and the best possible quality (Best Buy) is extremely important to them.
The Best Buy Award research is a project of ICERTIAS – International Certification Association GmbH, which is based in Zurich, Switzerland. Its mission is to gain insight into user experiences and their perceptions of products and services.
With the goal of simplifying the search for the best goods and services at the most favorable price, the Best Buy Award certification is intended to benefit buyers on the local and international markets. The research is conducted according to the provisions of the International Codex for the Implementation of Market and Social Research, which were adopted by the International Chamber of Commerce (ICC) and the European Association of Research Experts (ESOMAR).