Quality, not price, has become a more important factor to consumers’ brand loyalty.
Some 63% of consumers consider quality to be a top consideration when choosing a brand, up from about 55% in 2004, according to Roper Report’s Public Pulse report.
That puts quality ahead of price for the first time.
Only 56% of respondents consider “reasonable price” of top importance now, down from about 65% two years ago, Roper said.
But the biggest factor that influences consumer loyalty is still consistent past experience with the brand, cited by 83% of respondents. The second-biggest factor: Friends’ past experiences, and recommendations.
Neither of those findings is a surprise for marketers, but it’s reassurance that a good experience with a product andcustomer service engenders useful word-of-mouth and maintains brand loyalty.
Word-of-mouth has become steadily more important since 2000, and now heavily influences purchase decisions for 48% of Roper’s respondents. Manufacturers’ reputation, meanwhile, has been a pretty consistent element, cited by 46% of consumers as a significant influence in their purchase decisions.
The report is based on a survey of 2,002 adult consumers. GfK Roper Consulting reports on brand loyalty every two years; its latest survey results were released earlier this month.