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Demand for products bearing the “Magyar Termék” (“Hungarian Product”) trademark is on the rise, and consumer confidence in domestic products has increased significantly, Világgazdaság reports, citing a representative survey commissioned by Magyar Termék Nonprofit Kft.
According to the survey, the “Magyar Termék” trademark is not only the best known of its kind, but also enjoys the highest reputation among consumers. Over 90 percent of those surveyed are familiar with the trademark, and almost 77 percent regularly put products with this label in their shopping cart. For food products, this figure is an impressive 86.6 percent.
Consumers primarily associate the following characteristics with the “Magyar Termék” trademark:
As consumers are confident that these characteristics are guaranteed by the independent trademark system, more than half of the respondents consider some degree of markup (5-10 percent) acceptable for trademarked products in all product categories surveyed.
Eszter Benedek, managing director of Magyar Termék Nonprofit Kft., emphasized that this trademark is an important guide for conscious purchasing decisions.
By purchasing a domestic product, customers are not only voting for reliability, but also actively supporting the Hungarian economy,”
she explained.
The companies that use the trademark have formed a strong economic community, she noted. Their total annual turnover amounts to 4,700 billion forints (11.8 billion euros). This trademark can now be found on almost 6,000 products from 250 companies.
The managing director has called on Hungarian manufacturers to join forces even more strongly to demonstrate their ability to produce world-class goods. She pointed out how important it is for consumers to actively look for products with the trusted Hungarian proof of origin on the shelves. Benedek sees the joint effort as a great opportunity to survive in the highly competitive market.
Via Világgazdaság, Featured image: Facebook/Nagy István