Consumer perception on purchase of high end cars.

Presented by Moumita GhoshPramita Sharma

Livin VargeseDileep M

Arjun U RAkhilesh

Perception

The process by which an individual selects, organizes, and interprets stimuli into a meaningful and coherent picture of the world

“How we see the world around us”.

Elements of Perception

SensationAbsolute thresholdDifferential thresholdSubliminal perception

Important factors while buying a new high end car

• Status• Quality • Safety• Value• Performance• Design style• Technology/innovation• Environmentally friendly

Best perceived brandsBrand Score

Toyota 133

Ford 118

Honda 114

Chevrolet 94

Mercedes Benz 77

Volvo 77

Cadillac 66

BMW 66

Dodge 57

Tesla 55

How the score was calculated

The Consumer Reports National Research Center conducted a random, nationwide telephone survey of 2,034 adults from Dec. 6-16, 2012, and collected survey data from 1,764 adults in households that had at least one car.

Source: ConsumerReports.org

Quality

Quality can be measured through multiple means, including road test scores and reliability

In the latest Annual Auto Survey, which collected reliability data on more than 1.2 million vehicles, its been seen that Toyota ranked 2nd, Honda 6th, Mercedes-Benz 14th, Ford 27th, and Chevrolet 15th.

Reliability is just one face of quality, but that data paints a much different picture than this survey, providing further evidence that perception and reality can differ.

Brand Score

Honda 21

Toyota 21

Mercedes-Benz

19

Ford 19

Chevrolet 15

Safety

At a time when crash test standards are becoming increasing stringent and electronic safety aids are proliferating in the market, a standout safety reputation is hard won

Brand Score

Volvo 53

Ford 19

Honda 18

Toyota 17

Subaru 15

Value

In a tough economy, it is natural that consumers will be looking to get the most for their money.

Toyota and Honda have long had a reputation for high resale value, though the strong scores from other brands suggests that consumers are emphasizing purchase price and equipment.

Brand Score

Toyota 24

Honda 22

Ford 20

Hyundai 19

Chevrolet 16

Performance

Sports-car purveyor Ferrari has elbowed its way to the top.

With its consistent “Ultimate driving machine” marketing message and enthusiast-targeted product line, BMW remains a category leader.

Chevrolet and Ford are perennial standouts, aided by motorsports involvement, massive marketing budgets, potent muscle cars, mighty V8 engines, and more recently, forced-induction powerplants. 

Brand Score

Ferrari

BMW

Chevrolet

Ford

Honda

Design & Style

In the sheet-metal beauty contest, Audi is crowned the winner this year. The German luxury brand excels in design consistency, with its entire product line being immediately identifiable as an Audi. 

Cadillac’s sharp-edged styling continues to find favor, as does BMW’s striking bodywork.

Ford rose several positions this year, while Mercedes-Benz, Chevrolet, and Toyota registered a loss.

Brand Score

Audi 19

Cadillac 18

BMW 17

Lexus 17

Ford 16

Technology/Innovation

All five top-ranked brands in this area offer sophisticated infotainment systems.

All have also been safety innovators, from Ford offering safety-belt air bags to the Mercedes-Benz serving up a drowsy-driver alert system.

Each brand here also offers hybrid, turbocharged, and/or diesel power trains, tackling the technology challenge on multiple fronts.

Brand Score

Toyota 20

Mercedes-Benz

19

Cadillac 19

Ford 19

Lexus 16

Environmentally friendly/ Green

Toyota owns the environmentally friendly/green factor, with a commanding lead each year. The company’s hybrid technology is impressive.

 Honda has long made green issues a company priority. It is fully dedicated to energy efficiency and low emissions in cars and small engines.

Brand Score

Toyota 42

Smart 32

Tesla 19

Honda 18

Ford 17

The Perceived take away

It is hard to predict what the year ahead will bring, but the competition to shape consumer perceptions and buying behaviors will rage on. For established brands, the challenge remains to stand out from rivals, while being true to the core values. For small outfits like Smart and Tesla, the key is to build on their reputation and not be overshadowed by the larger players. The year-to-year changes do show that no company can sit on its laurels.