Apple Tops Brand Loyalty Survey (AAPL, KO, GOOG, AMZN, SBUX, TGT, MSFT)

Retail

Published: April 11, 2012 2:01 pm

What consumers value most in a product are quality and customer service. Companies that succeed in creating a brand based on excellent quality and outstanding customer service can charge more for their products, get away with occasional goofs, and depend on their customers to promote the company with the zeal of a convert.

According to the results of a survey by research firm ClickFox, Apple Inc. (NASDAQ: AAPL) was named by 20% of respondents as “the brand they couldn’t live without.” Coca-Cola Co. (NYSE: KO), Google Inc. (NASDAQ: GOOG), and Amazon.com Inc. (NASDAQ: AMZN) were the next-highest finishers, with other brands like Starbucks Corp. (NASDAQ: SBUX), Target Corp. (NYSE: TGT), and Microsoft Corp. (NASDAQ: MSFT) also called out among a “slew” of other companies and brands.

Survey respondents overwhelmingly listed quality as the main driver of brand loyalty (88%), followed by 72% who named customer service. A whopping 87% said they would pay higher prices or make some other accommodation to support their favorite brands.

And it’s never too early to start. Nearly half of respondents said that brand loyalty begins at the time of purchase, while 40% said that a critical component of loyalty is effectively resolving product or service issues.

All of this is relatively obvious, of course, but what may not be so obvious is the payoff. Nearly 80% of survey respondents said that tell other people about the brands they can’t live without. About 70% say they buy more of the brand’s products and more than half say that they don’t even consider other brands.

The next time you wonder why Apple’s stock is up more than 500% over the past five years, repeat this thought: More than half don’t even consider buying another brand.

Paul Ausick

The Average American Has No Idea How Much Money You Can Make Today ^(Sponsor)

The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.

But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

¹https://www.fdic.gov/national-rates-and-rate-caps