Wednesday, October 3, 2012

Automobile Brand Loyalty: Important Factors And Why Porsche Is A Reliable Luxury Brand

If you're in the market for a luxury vehicle, a certified pre-owned Porsche is a good choice, as evidenced by the fact that owners of new and used Porsche vehicles demonstrate brand loyalty.

In a recent JD Power & Associates survey, the Porsche 911 was the top ranking model, as determined by the number of reported problems per 100 cars. This kind of dependability is common in new and used Porsche models. Porsche drivers also appreciate the powerful performance and luxurious driving experience that a new or used Porsche delivers.

However, not all brand loyalty is based in such practical reasons. The 2012 New Luxury Vehicle Loyalty study, from Polk and AutoTrader.com, asked brand loyalists why they stay dedicated to a certain automobile brand. According to respondents, the most important factors in brand loyalty are:

-Brand Affinity. (44% of respondents Brand Affinity as the top determining factor in brand loyalty.)

-Quality/Reliability, as cited by 33% of respondents.

-Driving Performance (24%)

-Price/Finance/Value (16%)

-Styling/Design (16%)

An interesting corollary of this study is that brand loyalty motivations shifts according to the brand at hand. For instance, Acura drivers list innovation and technology as one of their top five reasons for brand loyalty. In contrast, Cadillac owners cite Brand Affinity more frequently than any other group of drivers. For BMW drivers, Driving Performance is the top reason for brand loyalty. Mercedes-Benz and Lexus owners reported that dealership loyalty is most important to their brand loyalty.

Car manufacturers track brand loyalty very carefully because it guarantees they will enjoy a steady stream of return buyers.

That same set of research results from Polk and Autotradrer.com found several explanations for why luxury car buyers switch brands.

The Main Reasons Why Car Buyers Switch Luxury Vehicle Brands

1. Price/Finance/Value (24% of surveyed car buyers)

2. Size/Body Style (20%)

3. Brand Affinity (17%)

4. Time to Change (14%)

5. Driving Performance and Styling/Design (both cited at 13%)

These are the reasons why a loyal Cadillac man might switch to a new or used Porsche.

How Age and Gender Impact Brand Loyalty

Age and gender demographic splits demonstrate significant differences in brand loyalty. For instance, considerably more women (17% of women compared to 11% of men) remain dedicated to a luxury brand because they feel loyalty to a certain dealership. In other words, a woman is more likely to continue driving her new or used Porsche because she loves the welcome she gets at her local Porsche dealership. Women appear to value vehicle safety more than men as well - 10% cited safety as a factor in brand loyalty, as compared to 5% of male respondents.

Age also influences brand loyalty. Brand affinity is important among those who are older than 55 years of age. 47% of 55+ respondents rated affinity as important, versus 37% of those younger than 55. Quality and reliability are key for younger drivers, 54% of whom cited these factors as important to their brand loyalty. In contrast, just 31% of drivers over 55 cite quality and reliability when explaining why they stay loyal, according to the Polk/Autotrader.com study.

Clearly, several factors drive automobile brand loyalty. For a reliable, fun car, you can't go wrong with a used or certified pre-owned Porsche. Call your local Porsche Dealership to learn about their available inventory of new and used Porsche vehicles.

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