A survey found that customers will remain loyal to brands, even expensive ones if they perceive that the value is worth the price. In fact, consumer expectations regarding brand value went up 20 percent, according to the 2009 Brand Keys Customer Loyalty Engagement Index. Those brands that aren’t perceived as being worth it will fall to the wayside said Brand Keys president Robert Passikoff.
How Consumers Determine Value Varies by Industry
The 2009 Brand Keys Customer Loyalty Engagement Index found that J. Crew secured the nomination as top apparel retail store thanks in part to Mrs. Obama’s endorsement. It was tops in terms of buzz. Consumers also said they like J. Crew’s unique and stylish range of merchandise. Staples shined as the leading office supply company thanks to its overall customer service and excellent reputation. It’s “That was easy” ad campaign rang true, according to respondents. It also did well in terms of value and range of merchandise. For casual dining, Olive Garden won by combining both a message with a quality image. It has linked itself with the Culinary Institute of Tuscany while at the same time offering bottomless bowls of pasta.
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Filed under: Loyalty Marketing