The role of Hungarian product trademarks has further strengthened

The recent economic difficulties in Europe have noticeably strengthened consumer ethnocentrism. This has further strengthened the interest in certificates indicating domestic origin. A representative survey of 1,040 people commissioned by MAGYAR TERMÉK Nonprofit Kft. confirmed that well-identifiable trademarks are not only the most well-known, but also have significant authentication power for buyers. 90.6 percent of those surveyed are familiar with trademarks and consider them the most authentic of all the labels examined. Trust in trademarks is also evident in consumer decisions, as 76.7 percent of respondents stated that they regularly add Hungarian Product trademarked goods to their shopping carts. Consumers primarily expect trademarked products to be manufactured with the participation of Hungarian labor, while being very reliable and of strictly controlled quality. These properties are fully guaranteed by the independent trademark system. It is not surprising that more than half of the participants in the research consider some level of premium (5-10%) for trademarked products acceptable in all product categories examined, which represents a serious competitive advantage for trademark users. “The Hungarian Product trademark is now an important point of reference when making purchases. Customers are becoming more and more aware: they realize that when they buy a domestic product, they are not only voting for reliability, but also supporting the operation of domestic companies and Hungarian jobs,” emphasized Benedek Eszter, CEO of MAGYAR TERMÉK Nonprofit Kft. According to her, the goal is not only to increase market presence, but also to strengthen the economic community formed by trademark users. Based on the results of the aforementioned research, the trademark is also performing well in this respect, as the combined annual sales revenue of companies using the Hungarian Product trademarks has now reached 4,700 billion forints. “The interest of manufacturers and traders in the Hungarian Product trademarks confirms the research figures, as this marking certifying origin and reliability can now be seen on nearly 6,000 products from 250 companies.” – emphasized Benedek Eszter. The Hungarian Product trademark therefore not only helps customers find their way around, but is also one of the keys to promoting economic competitiveness.