Survey ranks audio brands most likely to influence new car decision
A soon-to-be published consumer survey from IMS Research (recently acquired by IHS Inc.) has ranked those audio brands most likely to influence consumers’ new car buying habits. Surveying 2,250 consumers across the U.S., the U.K. and Germany, IMS Research can reveal that the five brands most likely to influence consumer attitude to new car purchase are (in alphabetical order): Bang and Olufsen, Blaupunkt, Bose, Pioneer and Sony.
Nimisha Patel, market analyst, comments: “What is most surprising is not the brands in the top five, but the ranking and difference in influence across the brands. Twice as many consumers are likely to be influenced by the leading brand when compared to the brand in second place.”
The survey didn’t stop with consumer perception of brand, it also analysed consumers’ views on cost, sound quality, feature appeal and brand loyalty. When comparing consumer spending across the three surveyed countries, it was clear that consumers in Germany are willing to pay more for a premium car audio system on a new car compared to similar consumers in the U.K. and the U.S. In fact, 35% of German consumers are willing to pay between $750 and $2,250 compared to just over 20% in both the U.S. and the U.K.
For those willing to pay for a premium car audio system, it was found that unique features and technical innovations are most important, with strong brand image/history being less so. Whilst brand loyalty was quite high amongst the survey respondents, this particular finding does indicate that suppliers struggling for brand equity can garner share by focusing on technical innovation.
Jack Bergquist, senior analyst, comments: “The infotainment market is one of the fastest growing automotive electronic segments. It is also one of the most competitive. The sales of premium car audio systems can dramatically impact dealerships’ profitability. Being able to offer the right brands to the right consumers is very important, particularly in these uncertain economic conditions.”