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Study finds brand loyalty can be a fickle situation
How loyal are you to your brands?
A new marketing study says you're probably pretty fickle. For the average manufacturer's grocery brand, less than half of consumers who made 70 percent or more of their category purchases with a single brand in 2007 maintained a similar level of loyalty in 2008, according to the survey of 32 million household-level consumers.
The study, which also polled 685 brands, also found that a third of those customers completely stopped buying their once-favored brand names.
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If companies want to retain their brand buyers, they need to identify and target consumers at risk of defecting, Morris said.
"If a mother is questioning whether a Hershey syrup is the right thing to give to her kids, she might reconsider if she knew that it has calcium or there was a version with a lower number of calories," Morris said. "You want to be specific and give them advice on why a product is right and what the value is."
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PARKING ECONOMICS: The economy is in distress and people are driving less, but that's not affecting garage parking prices, according to a recent study.
U.S. parking garage owners and operators have managed to hold rates near last year's levels, according to the survey conducted by real estate services company Colliers International.
Monthly parking rates slipped a modest 0.9 percent to an average of $154.23. Daily rates rose by 1.2 percent, or 18 cents, to an average of $15.96 a day.
"On the supply side, there never seems to be too much parking in major metropolitan areas," said Ross Moore, senior vice president and director of market and economic research for Colliers International. "It's not the same as when there's overbuilding of condos or office buildings, and those prices go down with the economy."
Meanwhile, as higher fuel prices have reduced the total number of miles driven, the number of trips stays about the same, Moore said.
The highest average monthly parking rate in the U.S. was $700 in midtown Manhattan, while Memphis had the lowest at only $20.
Globally, London had the highest cost at an average of $1,020 per month.
This was the ninth year Colliers International conducted the parking rate study.
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IN-FLIGHT WIFI ETIQUETTE: As airlines scramble to offer in-flight wireless high-speed Internet coverage, you may want to consider the most productive and least offensive ways to use it within the small confines of your seat.
Jackie Yeaney, chief marketing officer for communications technology company Premiere Global Services, offers these tips:
n Consider investing in a privacy filter to block a side view of your computer screen. They're affordable and easy to use -- just snap one on.
"Always be careful of both personal and company info," Yeaney said. "You never know who's sitting next to you, let alone in front of you or behind you."
n Use your computer, and your computer alone. Avoid scattering paperwork and encroaching on your neighbor's area.
n Wear headphones or turn the volume off so the other passengers won't have to hear e-mail pings or Windows-themed acoustics during their flight.
n Be sure that you're silently reading text to yourself, and not to others on board.
n If you plan to participate in a work-related meeting online, feel free to participate via webcast - just be conscious of your physical movement. Rather than speak during the meeting, try instant messages and chats or online polling to determine whether people understand or agree with your thoughts.
"Being in a meeting is letting people know you're there," Yeaney said. "If you can't hear, make sure you're using polls or emoticons to let people know you care about what's being discussed."
