Today's retail fuels marketplace is changing in a dramatic fashion. Consumers are keeping cars longer, which has renewed their focus on performance and quality
Houston, TX (Vocus) July 7, 2010
Price and convenience are the most often cited reasons for purchasing a brand of gasoline, but newly enhanced motor fuels tracking research by The NPD Group, a leading market research company, finds that consumers clearly differentiate when it comes to the specifics of the price/promotion, convenience, and quality propositions each gasoline brand offers.
According to NPD’s Motor Fuels Index, which tracks consumer motor fuel purchasing behaviors, location and price are traditionally the most often cited reasons for purchasing a brand of gasoline as well as convenience of paying at the pump and credit card acceptance. With recent enhancements to the Motor Fuels Index NPD is now able to capture more details on brand purchase drivers and finds that consumers define more specifically what they value about the brand.
The new Motor Fuels Index survey finds that consumers citing quality of fuel as a factor in selecting a brand, expand on the attributes such as fuel efficiency, vehicle performance, additives, engine cleaning ability, and their overall experience with the fuel. Consumers with a preferred brand define their preference as trust, environmental friendliness, and community involvement, among other attributes.
“Today’s retail fuels marketplace is changing in a dramatic fashion. Consumers are keeping cars longer, which has renewed their focus on performance and quality,” says David Portalatin, industry analyst for NPD’s automotive market research. “Given that good location, competitive prices, and convenience are factors most retailers strive to offer, in order to differentiate themselves, they will need to know what consumers are looking for in a gasoline brand and how they perceive their brand’s attributes.”
“Brand-level data illustrates that consumers clearly differentiate the price/promotion and quality attributes each brand offers,” says Portalatin. “Staying in tune with consumer response to new developments in fuel rewards and discounts, attitudes toward vehicle longevity and performance, and the emergence of a post recession economy will enable fuel marketers to craft relevant and timely strategies for keeping their brands on the right track.”
About The NPD Group, Inc.
The NPD Group is the leading provider of reliable and comprehensive consumer and retail information for a wide range of industries. Today, more than 1,800 manufacturers, retailers, and service companies rely on NPD to help them drive critical business decisions at the global, national, and local market levels. NPD helps our clients to identify new business opportunities and guide product development, marketing, sales, merchandising, and other functions. Information is available for the following industry sectors: automotive, beauty, commercial technology, consumer technology, entertainment, fashion, food and beverage, foodservice, home, office supplies, software, sports, toys, and wireless. For more information, contact us, visit http://www.npd.com/, or follow the Linkedin NPD Aftermarket Discussion Group