Survey: Consumers Love Their Brands, But Cost Counts
Jan. 13, 2005
Compiled By Jill Jusko Familiar brand names are important to many consumers when selecting food, beverages and consumer products, but cost is a key component in cementing their buying decisions, shows a new survey conducted for Grocery Manufacturers of ...
Compiled ByJill Jusko Familiar brand names are important to many consumers when selecting food, beverages and consumer products, but cost is a key component in cementing their buying decisions, shows a new survey conducted for Grocery Manufacturers of America (GMA), a Washington, D.C.-based trade association. Some 49% of survey respondents indicated that a familiar brand name was the first or second most important element when making a purchase at the supermarket. On the other hand, some 82% said they frequently consider a product's price before making a final selection, and 55% indicated that a coupon or in-store sale was the first or second most important consideration in making a purchase. In other findings from the survey -- conducted to explore how national brands influence buying decisions -- three-quarters (76%) of survey respondents said they consider a product's brand before making a final buying decision, and 67% said they would "chase the brand" to a different store or delay the purchase if it wasn't available. "Clearly national brands have a prominent place in the hearts and lives of American consumers," says GMA Vice President of Marketing and Communications Gene Grabowski. The 56-question survey of 800 adults was fielded April 5-8, 2002, by the polling co., a Washington, D.C.-based market-research and consulting firm.