Table of Contents
Executive Summary
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- The issues
- Recalls are changing perceptions of automotive brands, but to what extent?
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- Figure 1: Impact of recalls on industry perception, March 2015
- Consumer loyalty has its limits
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- Figure 2: Brand loyalty, March 2015
- The opportunities
- Consumers are influenced by their peers, – so success with some could lead to success with all
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- Figure 3: Attitude toward trusting car brands, March 2015
- Trust comes from past positive experiences
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- Figure 4: Factors of brand loyalty, March 2015
- What it means
The Market – What You Need to Know
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- Social media and the internet can help perceptions spread
- Recalls will impact perceptions, at least somewhat
Market Factors
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- Social media growth influences consumers
- Recalls could change perceptions
Key Players – What You Need to Know
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- Recalls prompt look at consumer perceptions
- GM recalls show what can go wrong
- Brands that handle recalls well can build loyalty or keep loyal customers in the fold
What’s Working?
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- Transparency and response are key when dealing with recalls
What’s Struggling?
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- General Motors’ shows what to avoid when a recall hits
What’s Next?
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- Automakers will need to address recalls head on
The Consumer – What You Need to Know
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- Consumers’ brand perceptions changed by recalls
- Brand loyalty strong among consumers
- Consumers listen to their peers despite our modern media ways
Recalls Do Impact Perceptions
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- Gen X, Millennials have different perspectives
- Parents Influenced more heavily by the recalls
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- Figure 5: Factors of brand loyalty, March 2015
- Recent news has increased consumer awareness of recalls
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- Figure 6: Recalls’ impact on brand perception, March 2015
Brand Loyalty is Strong
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- Nearly one-half of respondents show loyalty to a certain brand
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- Figure 7: Brand loyalty, March 2015
Performance, Experience, Reputation, Price Drive Loyalty
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- Performance is a strong driver for brand loyalty
- Previous ownership experience is also a huge factor when it comes to loyalty
- Reputation also drives loyalty
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- Figure 8: Attributes associated with brands, March 2015
- Safety and fuel economy also influence loyalty
- Enthusiasm doesn’t impact loyalty much
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- Figure 9: Factors impacting brand loyalty, March 2015
Factors Influencing Consumer Trust
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- Consumers are influenced by other consumers
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- Figure 10: Trust in Brands, March 2015
Outside Influences Have an Impact
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- Reviews, and news stories have positive impact, but most factors don’t resonate
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- Figure 11: Factors that Impact Brand Perception, March 2015
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Consumer qualitative research
- Abbreviations and terms
- Terms
Appendix - Correspondence Analysis Methodology
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- Methodology
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