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®Agenda
• Research Background• Recent Consumer Experiences with ESCs• Past Purchases and Claims Experiences• Social Media• Recap/ Questions
®Research Background
• Consumer survey conducted online in Feb 2011 by FULCRUM.
• 1,161 consumers who recently purchased a new product in one of the following categories, from a retailer, in the last six months:
• Digital home printers or copiers (n=200)• Digital cameras or camcorders (n=202)• Digital flat panel TVs or home theatre systems (n=206)• Home appliances (e.g. refrigerator, washer etc., n=202)• Power sports (e.g. motorcycles, ATVs, watercraft etc., n=151)• Automotive (n=200)
®
Availability of an ESC is Important to Many Product Purchasers
Q: How important were each of the following when deciding which ______________ to purchase? A: Five point scale (1 = Not at all important, 5 = Extremely important) Summary of top 2 box scores shown here.
®
Important Factors in Purchase Decisions
Digital home
printer/ copier
Camera or cam-corder
TV/ home
theatre
Home appli-ance
Power sports
Auto-motive
Getting a great deal on pricing 84% 88% 85% 85% 85% 91%
Manufacturer’s reputation for product quality 83% 84% 77% 84% 77% 88%
The specific item’s style and appeal to you 73% 80% 78% 74% 86% 83%
Reputation of the retailer for ongoing customer service
66% 57% 66% 78% 70% 77%
Past experience with the manufacturer’s products
70% 65% 51% 66% 66% 69%
Strong manufacturers’ warranty 57% 58% 58% 69% 67% 78%
Manufacturer’s reputation for financial stability
53% 51% 46% 60% 67% 72%
Availability of an extended service contract 42% 31% 35% 46% 46% 52%
Incentives (cash back, for example) 35% 30% 24% 42% 46% 58%
Availability of financing 27% 19% 19% 31% 54% 63%
Expected resale value 25% 20% 14% 18% 64% 60%
Availability of an ESC is Less Important than Price, Quality, Style
Q: How important were each of the following when deciding which ______________ to purchase? A: Five point scale (1 = Not at all important, 5 = Extremely important) Summary of top 2 box scores shown here.
®
ESC Purchase Interest is Greatest for Vehicles and Home Appliances
Q: Did you buy an extended service contract for your new ________?
®
Among the ESC-Interested, Post-Sale Efforts Best for Printers and Vehicles
Q: How willing would you have been, or will you be, to consider buying an extended service contract for your new at these various points in time? A: Five point scale (1 = Extremely unlikely, 5 = Extremely likely) Summary of top 2 box scores shown.Base: Respondents who have purchased, have plans to purchase or are undecided about purchase of ESCs for item.
Data labels hidden for clarity
®
Items that would make an ESC more appealing
Digital home
printer/ copier
Camera or cam-corder
TV/ home
theatre
Home appli-ance
Power sports
Auto-motive
Free/discounted accessories, discounts on related products/events
46% 37% 34% 48% 58% 43%
Tied to product updates, upgrades 31% 29% 26% 27% 42% 27%
Adding ‘accidental damage and loss’ coverage 39% 51% 40% n/a n/a n/a
Tips on product maintenance, new product introductions communicated to you regularly
23% 19% 18% 23% 36% 20%
Inclusion of tech support 31% 35% 36% n/a n/a n/a
Inclusion of maintenance and service n/a n/a n/a n/a 47% 60%
None of the above 30% 29% 34% 40% 11% 20%
Each Product has Uniquely Appealing ESC “Value Adds”
Q: What would make an extended service contract for your ____________ more appealing to you? Multiple answers permitted.
®
ESCs are Valued about 75% Higher if Cover All Repairs for Auto, ADH
Q: Assuming purchase near or at warranty expiration, what are you willing to pay for three years of… ? coverage of major repairs, full coverage of all repairs, full coverage of all repairs, including accidental damage that you cause.Base: Respondents who have purchased, have plans to purchase or are undecided about purchase of ESCs for item.
®
Preference is OEM Parts, but More than Half are Open to Aftermarket
Q: How do you feel about the extended service contract being provided by the manufacturer (using OEM parts), versus by a third party (using aftermarket parts)?Base: Respondents who have purchased, have plans to purchase or are undecided about purchase of ESCs for item.
®
Availability of an ESC Adds to the Consumer’s Sense of Security
Q: Does the fact that the manufacturer of your new _____________ offers an extended service contract make you feel…?
®
ESC Availability Does Not Impact Sales Due to Quality Perception
Q: Does the offer of an extended service contract by the manufacturer cause you to have concerns about that brand’s quality?
®
Customers Feel ESC Availability Extends Their Time of Ownership
Q: To what extent do you feel that having an extended service contract on your new _______________ will extend the amount of time that you own it before having to buy a new one?
®
Less than Half of Past ESC Purchasers Have Made a Claim
Q: Have you purchased any extended service contract, or extended warranty, in the past?If Yes, Q: Did you have to make a claim?
®
Among the Past ESC Claim Makers, Most Experienced Good Outcomes
Q: Was the experience good, bad, or neutral?Base: Respondents who have made claims with extended service contracts or warranties in the past. (n=249)
®
Good Claims Experience Increases Likelihood of Brand Repurchase (95%)
Q: How willing would you be to buy another product from that manufacturer again in the future?Base: Respondents who have purchased any extended service contract or extended warranty in the past.
®
Good Claims Experience Increases Likelihood of Future ESC Purchase
Q: Would you purchase an ESC again?Base: Respondents who have purchased any extended service contract or extended warranty in the past.
®
Compliments More Commonly Posted than Complaints
Q: Have you complained about a product’s performance online, in a user review or social media website?Q: Have you complimented a product’s performance online, in a user review or social media website?Base: Respondents who have purchased any extended service contract or extended warranty in the past.
Of consumers who post comments get a response
from the manufacturer
®
What reasons might you become a “fan” or “friend” of a company online?
Digital home
printer/ copier
Camera or cam-corder
TV/ home
theatre
Home appli-ance
Power sports
Auto-motive
Quality/Reliable Product 42% 35% 31% 38% 36% 29%
Discounts/Coupons/Offers 25% 26% 23% 24% 23% 19%
Like the product 19% 13% 13% 11% 17% 13%
Customer Service 11% 11% 12% 10% 12% 11%
Updates/New features/products 5% 6% 3% 3% 7% 4%
None/would not become a fan 30% 29% 39% 30% 18% 31%
Customers Most Likely to “Fan” or “Friend” if Product is High Quality
Q: For what reasons might you choose to become a 'fan' or 'friend' of a company online? (Open end)Responses coded and tabulated into categories shown. Top categories shown here.