The Product Mindset 2012 Summary

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The Product Mindset is conducted annually to help businesses better understand the growing concerns and priorities of their diverse constituents and the impact perceptions have on making, selling, buying and consuming products.

The 2012 study is based on quantitative research of manufacturers and consumers in China, India, Germany and the U.S. This year’s study uncovers the Forces creating uncertainty and shaping the market; the Attitudes that have shifted from last year’s optimism to a new realism and sophistication; Priorities like safety, quality and the environment that address fundamental demands; and the Impact created by the supply chain, globalization and traceability that defines how the priorities are delivered.

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The Product Mindset 2012 Summary

  1. 1. © 2011 Underwriters Laboratories Inc.
  2. 2. UL and the UL logo are trademarks of UL LLC © 2012THE PRODUCT MINDSET 2012
  3. 3. UL and the UL logo are trademarks of UL LLC © 2012DOWNLOAD THEPRODUCT MINDSET ATUL.COM/PRODUCTMINDSETDOWNLOAD THE FULL REPORT
  4. 4. UL and the UL logo are trademarks of UL LLC © 2012EXTENSIVE PRESS COVERAGE FROM 2011
  5. 5. UL and the UL logo are trademarks of UL LLC © 2012KEY FINDINGS
  6. 6. UL and the UL logo are trademarks of UL LLC © 20121 FORCES
  7. 7. UL and the UL logo are trademarks of UL LLC © 2012FORCESThis year, external forces have created a growing uncertainty around the world. Fromeconomic and political to social and environmental issues, pervasive instability, volatilityand turbulence are causing a shift in the collective mindset.
  8. 8. UL and the UL logo are trademarks of UL LLC © 2012FORCESThis year, external forces have created a growing uncertainty around the world. Fromeconomic and political to social and environmental issues, pervasive instability, volatilityand turbulence are causing a shift in the collective mindset.
  9. 9. UL and the UL logo are trademarks of UL LLC © 20122 ATTITUDES
  10. 10. UL and the UL logo are trademarks of UL LLC © 2012OPTIMISM GIVES WAY TO REALISMManufacturers express confidence in their performance related to product safety,reliability, sustainability and innovation
  11. 11. UL and the UL logo are trademarks of UL LLC © 2012OPTIMISM GIVES WAY TO REALISMThis year, only a few manufacturers feel truly ahead of the curvePERCENT OF MANUFACTURERS WHO FEEL THEY NEED NOIMPROVEMENT IN
  12. 12. UL and the UL logo are trademarks of UL LLC © 2012 12Two to three times as many consumers want manufacturers to prioritize safetyimprovements for food and home building materials than they do for high tech and orsmart appliancesA MORE NUANCED AND SOPHISTICATEDCONSUMER UNDERSTANDING OF SAFETYTHINK SAFETY SHOULD BE MOST PRIORITIZED BY MANUFACTURERS FOR THEFOLLOWING PRODUCT CATEGORIES
  13. 13. UL and the UL logo are trademarks of UL LLC © 2012 13Consumers express safety concerns across all categories, in each case demonstrating anuanced understanding of distinct safety issuesA MORE NUANCED AND SOPHISTICATEDCONSUMER UNDERSTANDING OF SAFETYTHE TOP TWO CONSUMER SAFETY CONCERNS BY CATEGORY
  14. 14. UL and the UL logo are trademarks of UL LLC © 20123 PRIORITIES
  15. 15. UL and the UL logo are trademarks of UL LLC © 2012QUALITY IS IMPERATIVEManufacturers see quality as the most important driver of success today and tomorrowSTRONGLY AGREE THE FOLLOWING CONSIDERATIONS IMPACT THEIRABILITY TO COMPETE
  16. 16. UL and the UL logo are trademarks of UL LLC © 2012QUALITY IS IMPERATIVEConsumers primilarly make purchase decisions based on qualityQUALITY IS MOST IMPORTANT DRIVER OF PURCHASE DECISIONS
  17. 17. UL and the UL logo are trademarks of UL LLC © 2012SAFETY CONTINUES TO BE FUNDAMENTALManufacturers believe safety continues to play a critical role today
  18. 18. UL and the UL logo are trademarks of UL LLC © 2012SAFETY CONTINUES TO BE FUNDAMENTALThey also agree that the definition of safety is becoming broaderMANUFACTURERS IN EACH COUNTRY WHO AGREE THE DEFINITION OFSAFETY IS BECOMING BROADER
  19. 19. UL and the UL logo are trademarks of UL LLC © 2012THE ENVIRONMENT ADVANCESConsumers believe manufacturers are not prioritizing the environment enoughBELIEVE THAT MANUFACTURERS ARE NOT PRIORITIZING ENVIRONMENTALLYFRIENDLY MANUFACTURING PROCEDURES OR PRODUCTS
  20. 20. UL and the UL logo are trademarks of UL LLC © 2012 20THE ENVIRONMENT ADVANCESManufacturers see sustainability as critical to their ability to compete effectivelyAGREE THAT THE FOLLOWING CONSIDERATIONS IMPACT THEIR ABILITY TOCOMPETE IN THE MARKETPLACE
  21. 21. UL and the UL logo are trademarks of UL LLC © 20124 IMPACT
  22. 22. UL and the UL logo are trademarks of UL LLC © 2012THE ESSENTIAL SUPPLY CHAINManufacturers see a need to get more from their supply chainHIGHLY SATISFIED WITH THE FOLLOWING ASPECTS OF THEIR COMPANY’SSUPPLY CHAIN PERFORMANCE
  23. 23. UL and the UL logo are trademarks of UL LLC © 2012THE ESSENTIAL SUPPLY CHAINManufacturers are looking more to global sourcingGlobal Sourcing continues increase
  24. 24. UL and the UL logo are trademarks of UL LLC © 2012 24INGREDIENTS MATTERManufacturers believe consumers want to know what goes into their products
  25. 25. UL and the UL logo are trademarks of UL LLC © 2012 25INGREDIENTS MATTERConsumers understand the importance of knowing what goes into the products they buyBELIEVE IT IS VERY IMPORTANT TO KNOW WHAT INGREDIENTS ORCOMPONENTS ARE IN THE PRODUCTS THEY BUY
  26. 26. UL and the UL logo are trademarks of UL LLC © 2012ORIGIN IS CRITICALThe majority of consumers are aware of which country the products they purchase aremanufacturered inBELIEVE THEY KNOW THE COUNTRY OF ORIGIN FOR PRODUCTSTHEY PURCHASE
  27. 27. UL and the UL logo are trademarks of UL LLC © 2012 27Manufacturers think developed countries have a better reputation for the quality of their productsORIGIN IS CRITICALRATE COUNTRIES AS VERY GOOD/EXCELLENT AS A SOURCE FORTHEIR INDUSTRY
  28. 28. UL and the UL logo are trademarks of UL LLC © 2012Today, we are more intertwined, interdependent and intervulnerable. With supply chain complexitygrowing and global trade increasing at unprecedented rates, it appears Navigating the Product Mindsetis essential to better understand the shifting dynamics of a changing world—a world that is moreconnected today than ever before and an ecosystem where information, dialogue andinterdependencies occur with greater frequency and greater impact.CONCLUSION
  29. 29. UL and the UL logo are trademarks of UL LLC © 2012METHODOLOGYUL employed an independent research firm, ORC International, to conduct a global quantitativesurvey among 1,201 consumers and 1,202 manufacturers across four countries: China, Germany,India and the United States. To meet the objectives of the survey, manufacturers across high-tech,food, household chemicals and building materials sectors were interviewed by phone and consumerswere interviewed through an online survey.Manufacturers were director level and above and specialized in management, research anddevelopment, marketing and sales, quality control, product management, or design.Consumers were a representative mix of age, gender, education and income. Data tabulations amongsubgroups have been tested for statistical significance at the 90% and 95% confidence levels.
  30. 30. THANK YOU

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