The BP brand may have taken a battering in the world but people in Singapore at least will continue to buy its products it appears.
This is the initial finding of a dipstick research study that I’ve been doing on the brand over the last few months since the start of the Gulf of Mexico crisis.
It’s not like people don’t hold BP responsible or that sentiment towards the brand has not been damaged. It certainly has. However, despite 50% of people surveyed stating that their perception of the brand has been negatively impacted as a result of the crisis, only 13% say they would not continue to buy its products.
A staggering 45% said they would continue to buy BP products given an option, while a further 40% were undecided and said maybe.
Why is sentiment to the BP brand not as negative as it should be?
I think it’s because people don’t hold just the brand responsible for what happened in the Gulf of Mexico but also Government and themselves.
In another question in the same survey, I asked consumers to indicate which parties they thought should be held responsible for the Gulf event.
While 100% of people said BP, 68% of people also said regulatory authorities (due to the inadequacy of legislation put in place) while a further 27% implicated consumers in the mess as well – the reason – the realization that our relentless demand for cheap oil may be what is encouraging companies like BP to drill deeper and engage in exploration techniques of a questionable nature.
In the Gulf of Mexico crisis, clearly multiple parties are to blame – BP, Government legislative bodies and consumers themselves. What is interesting to note however is the increasing responsibility consumers are taking on when it comes to the environment and the pressure they are putting on Government as well in matters of this regard.