The most revered brands in the US have been ranked by Boston Consulting Group (BCG) in a new survey which has provided an insight into why brands such as Apple continue to lead the way in the western world’s biggest market.
Unsurprisingly Apple tops the favourite brands poll created by 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.
Respondents gave the Silicon Valley giant high marks for the reliability of its products as well as the quality, number of new offerings and the sense of trust it gave them. The survey also revealed some emotional aspects attached to the brand for customers who said they felt a sense of having made a good decision in relation to their purchase as well as feeling “excited” and “comfortable.”
Senior partner at BCG, Michael J. Silverstein, said companies such as Apple continue to dominate other brands because they use “technical and functional attributes to drive original choice and win by owning the heart and the mind.”
Second on the list was Amazon with “convenience” and “trust” cited as two of the main factors behind why customers loved the brand. The detailed information on its products and the feelings of intelligence and confidence associated with making purchases from the website were also highly regarded in consumer’s estimations.
Walmart’s good value helped it take third place on the list while Netflix and Costco completed the top 5. The remaining places on the list were taken up by Samsung, Coca-Cola, Target, Jet Blue and Chick-fil-A rounded off the list.
Interestingly Walmart was also found to be the least favourite brand in the study. One respondent summed up the most common reason for this in 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.”
Chart topper Apple also found itself on the least favourite list in third position with respondents accusing the company of being “secretive,” “arrogant,” and “elitist.”
One customer wrote “I think they are overpriced, over-hyped, and more flash than function”.
Silverstein also warned of how fragile the public’s adoration for brands can be brands saying that “brands are fragile and they fail, sometimes brands that are loved are also least liked”.
He added that “no brand is stable–they’re either rising or declining”.