This morning, Kelley Blue Book's Marketing Research division announced the results of its Brand Watch study. The survey questioned in-market new- vehicle shoppers about their perceptions of various brands, in addition to getting these vehicle researchers to identify the most important factors driving their purchase decisions.
"Consumer perceptions of a manufacturer have more impact on the marketplace than many would give them credit for," explained Jack Nerad, executive editorial editor and executive market analyst with Kelley Blue Book and kbb.com.
"Word-of-mouth among friends and the eventual voting for vehicles with consumers' wallets can influence what their friends and neighbors buy, as well as resale values down the road," he pointed out.
The second-quarter results of the brand study found:
Best Exterior Styling:
Non-Luxury Sedan/Coupe/Hatchback Segment: Honda
Luxury Sedan/Coupe/Hatchback Segment: BMW
Non-Luxury SUV Segment: Ford
Luxury SUV Segment: Mercedes-Benz
Truck Segment: Chevrolet
Minivan Segment: Toyota
Sports Car/Convertible Segment: Porsche
Best Interior Layout/Driving Comfort:
Non-Luxury Sedan/Coupe/Hatchback Segment: Toyota
Luxury Sedan/Coupe/Hatchback Segment: Lexus
Non-Luxury SUV Segment: Toyota
Luxury SUV Segment: Lexus
Truck Segment: Chevrolet
Minivan Segment: Toyota
Sports Car/Convertible Segment: Lexus
Overall Findings:
Best Overall Exterior Styling: Porsche
Best Overall Interior Layout/Driving Comfort: Lexus
Best Overall Prestige Brand /Luxury/Sophistication: Mercedes-Benz
"Now available to vehicle manufacturers and auto industry professionals, the second quarter Brand Watch report taps into active new-vehicle shoppers to determine their perceptions of automotive brands within specific automotive segments," officials said.
"Brand Watch delves into how each manufacturer's brand equity differs across vehicle segments, compares the relative standing of each make versus competitive makes and reveals the decision factors of car-buyers within each make and segment," executives continued. .
Officials went on to say the study examines:
—Important factors driving purchase decisions in each vehicle segment.
—Perceptions of styling/design, driving performance, durability/reliability and comfort for each make and segment.
—Key psychographic profiles of buyers within each vehicle segment.
—Perceptions and consideration trended among domestics and imports.
—Individual profiles for the top 27 makes.
—The top makes considered by shoppers in each vehicle segment.
Rick Wainschel, vice president of marketing research and brand communications at Kelley Blue Book, highlighted, "Consumer perceptions of what brands have to offer frequently will put certain vehicles on a shoppers' consideration list, or leave them off all together.
"Having Brand Watch in the marketing arsenal allows a manufacturer to see how they are perceived in often-overlooked areas, and also how they rank against other brands in their segment," he added.