the product mindset 2012 summary

UL and the UL logo are trademarks of UL LLC © 2012

THE PRODUCT MINDSET 2012


DOWNLOAD THE PRODUCT MINDSET AT UL.COM/PRODUCTMINDSET

DOWNLOAD THE FULL REPORT


EXTENSIVE PRESS COVERAGE FROM 2011


KEY FINDINGS


1 FORCES


FORCES

This year, external forces have created a growing uncertainty around the world. From economic and political to social and environmental issues, pervasive instability, volatility and turbulence are causing a shift in the collective mindset.


2 ATTITUDES


OPTIMISM GIVES WAY TO REALISM

Manufacturers express confidence in their performance related to product safety, reliability, sustainability and innovation


OPTIMISM GIVES WAY TO REALISM

This year, only a few manufacturers feel truly ahead of the curve

PERCENT OF MANUFACTURERS WHO FEEL THEY NEED NO IMPROVEMENT IN

UL and the UL logo are trademarks of UL LLC © 2012 12

Two to three times as many consumers want manufacturers to prioritize safety improvements for food and home building materials than they do for high tech and or smart appliances

A MORE NUANCED AND SOPHISTICATED CONSUMER UNDERSTANDING OF SAFETY

THINK SAFETY SHOULD BE MOST PRIORITIZED BY MANUFACTURERS FOR THE FOLLOWING PRODUCT CATEGORIES


Consumers express safety concerns across all categories, in each case demonstrating a nuanced understanding of distinct safety issues

A MORE NUANCED AND SOPHISTICATED CONSUMER UNDERSTANDING OF SAFETY

THE TOP TWO CONSUMER SAFETY CONCERNS BY CATEGORY


3 PRIORITIES


QUALITY IS IMPERATIVE

Manufacturers see quality as the most important driver of success today and tomorrow

STRONGLY AGREE THE FOLLOWING CONSIDERATIONS IMPACT THEIR ABILITY TO COMPETE


QUALITY IS IMPERATIVE

Consumers primilarly make purchase decisions based on quality

QUALITY IS MOST IMPORTANT DRIVER OF PURCHASE DECISIONS


SAFETY CONTINUES TO BE FUNDAMENTAL

Manufacturers believe safety continues to play a critical role today


SAFETY CONTINUES TO BE FUNDAMENTAL

They also agree that the definition of safety is becoming broader

MANUFACTURERS IN EACH COUNTRY WHO AGREE THE DEFINITION OF SAFETY IS BECOMING BROADER


THE ENVIRONMENT ADVANCES

Consumers believe manufacturers are not prioritizing the environment enough

BELIEVE THAT MANUFACTURERS ARE NOT PRIORITIZING ENVIRONMENTALLY FRIENDLY MANUFACTURING PROCEDURES OR PRODUCTS


THE ENVIRONMENT ADVANCES

Manufacturers see sustainability as critical to their ability to compete effectively

AGREE THAT THE FOLLOWING CONSIDERATIONS IMPACT THEIR ABILITY TO COMPETE IN THE MARKETPLACE


4 IMPACT


THE ESSENTIAL SUPPLY CHAIN

Manufacturers see a need to get more from their supply chain

HIGHLY SATISFIED WITH THE FOLLOWING ASPECTS OF THEIR COMPANY’S SUPPLY CHAIN PERFORMANCE


THE ESSENTIAL SUPPLY CHAIN

Manufacturers are looking more to global sourcing

Global Sourcing continues increase


INGREDIENTS MATTER

Manufacturers believe consumers want to know what goes into their products


INGREDIENTS MATTER

Consumers understand the importance of knowing what goes into the products they buy

BELIEVE IT IS VERY IMPORTANT TO KNOW WHAT INGREDIENTS OR COMPONENTS ARE IN THE PRODUCTS THEY BUY


ORIGIN IS CRITICAL

The majority of consumers are aware of which country the products they purchase are manufacturered in

BELIEVE THEY KNOW THE COUNTRY OF ORIGIN FOR PRODUCTS THEY PURCHASE


Manufacturers think developed countries have a better reputation for the quality of their products

ORIGIN IS CRITICAL

RATE COUNTRIES AS VERY GOOD/EXCELLENT AS A SOURCE FOR THEIR INDUSTRY


Today, we are more intertwined, interdependent and intervulnerable. With supply chain complexity growing and global trade increasing at unprecedented rates, it appears Navigating the Product Mindset is essential to better understand the shifting dynamics of a changing world—a world that is more connected today than ever before and an ecosystem where information, dialogue and interdependencies occur with greater frequency and greater impact.

CONCLUSION


METHODOLOGY

UL employed an independent research firm, ORC International, to conduct a global quantitative survey 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 consumers were interviewed through an online survey.

Manufacturers were director level and above and specialized in management, research and development, marketing and sales, quality control, product management, or design.

Consumers were a representative mix of age, gender, education and income. Data tabulations among subgroups have been tested for statistical significance at the 90% and 95% confidence levels.

THANK YOU

the product mindset 2012 summary

Business

ul logo

trademarks of ul llc

product safety

definition of safety

consumer safety concerns

curvepercent of manufacturers

collective mindset

external forces