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Friday, November 6, 2015

America's Favorite--And Least Favorite--Brands

How do brands like Apple maintain their reign over successive lists of favorite brands? According to Michael J. Silverstein, senior partner at Boston Consulting Group (BCG), “They use technical and functional attributes to drive original choice and win by owning the heart and the mind.”
Apple leads a list of favorite brands recently released by BCG, based on a survey in which consumers were asked to respond to queries about how various brands made them feel, and how they felt having purchased products from those brands.

There are few surprises at the top of the list. Apple holds the first spot–as it does on so many other rankings–with respondents giving the tech titan strong marks for reliability, quality products, new offerings, and a sense of trust with the consumer. Emotionally, respondents also felt that purchasing Apple products gave them the sense of having made a smart decision, and also made them feel “excited” and “comfortable.” Another perennial favorite, Amazon, comes in second, with consumers citing convenience, trust, and the “detailed information” the company provides about its products as pluses, as well as feelings of intelligence and confidence associated with making purchases from the website. 

Walmart comes in third, earning high marks for good value. Netflixand Costco round out the top five, while Samsung, Coca-ColaTarget, Jet Blue, and Chick-fil-A fill out the top 10. Of note, some of the country’s favorite brands are simultaneously its least favorite.
“Brand love can be volatile and turn quickly negative,” warns a statement from the company, “a phenomenon that ought to keep even the most successful brands on their toes.”
Favorite number three Walmart sits atop the list of America’s least favorite brands, with one respondent quoted as saying, “I don’t like what Walmart stands for. They have cheap products and they treat their workforce cheaply. I do not want to be a part of that.”

Brand ranking darling Apple is the third least favorite, with survey respondents calling the company “secretive,” “arrogant,” and “elitist.”
“I think they are overpriced, over-hyped, and more flash than function,” wrote one consumer.
The report also highlighted emerging brands, as identified by survey participants as “a brand that you like that could be the ‘next big thing’ in its category.” Respondents mentioned brands including jewelry-maker Alex & Ani, Dre Beats, GoPro, Hulu, Nest, Oculus Rift, Snapchat, Tesla, Uber, and Virgin America. 

“Brands are fragile and they fail,” said Silverstein. “Sometimes brands that are loved are also least liked. No brand is stable–they’re either rising or declining.”



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