ERJ staff report (DS)
Sydney, Australia -- CarbonBlack TyreXchange, an independent Australian online marketplace for tyres and auto services, has released the findings of its latestTyre Brand Scorecard on consumer purchasing behaviour, especially of tyres.
â€œThe Tyre Brand Scorecard outlines that consumers are highly active in sharing feedback on tyres in an online social community. The most active responses are from those either very happy or very unhappy with their tyre purchases and this mirrors peoples' loyalty patterns. Increasingly people are prepared to shift brands based on what other consumers are sharing in online communities,â€ said , Ms. Jodi Stanton, CarbonBlack's founder and managing director.
- Original equipment tyres continue to have a strong influence on the replacement tyre market. The level of influence varies by brand.
- 35 percent of tyre buyers however have no brand preference
- 38 percent of purchasers only select a single brand from a list of 19 when asked. Single brand selection is increasing with the level of information now available online.
- Traditional advertising no longer has the same impact on consumers considering tyre purchases.
- The consumer market in general often fails to understand product differentiation. This leads to a substantial amount of product substitution.
- There was an increasing trend for consumers to rely on word-of-mouth feedback from other consumers to influence their purchasing decisions.
- Bridgestone had the highest preference among female tyre buyers.
- Michelin had the highest preference among luxury owners.
â€œThe internet is growing in its popularity in educating consumers and subsequently people are seeking better information from tyre manufacturers when it matters most - at point-of-sale. Traditional advertising needs to be combined with marketing that focuses on product differentiation, general tyre education and safety programs with retail environments that improve the sales experience for that particular brand. Tyre manufacturers that now cater for both female and male purchasing habits in the new online space and traditional retail channel are going to benefit the most. The game certainly has changed,â€ Stanton concluded.
The Tyre Brand Scorecard is an analysis of consumer relationship metrics on Australia's leading tyre brands. It describes the consumer tyre buyer and their decision-making process. The analysis is based on transactional activity, consumer profiling and surveys from a sample of 7,000 consumers actively in the market to purchase tyres who utilised CarbonBlack TyreXchange in the period July 2007 - June 2008.
This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.
Press release from CarbonBlack