J.D. Power has released details of their new study that infers that brand perception is an influential driver for shoppers considering replacement tyres in India. The new research, called as the J.D. Power 2016 India Original Equipment Tire Customer Satisfaction Index (TCSI) study has awarded Bridgestone and MRF for their high ranking in customer satisfaction with original equipment tyres.
The study measures satisfaction among original equipment (OE) tyre owners during the first 12 to 24 months of ownership. It considers four factors (listed in order of importance): appearance (876 on a 1,000-point scale); ride (876); durability (870); and traction/ handling (872). The 16th edition of the India Original Equipment Tire Customer Satisfaction Index (TCSI) Study is based on 3,496 feedbacks from new-vehicle owners who purchased their vehicle between May 2013 and August 2014. The study was conducted between May and August 2015.
Out of those responses garnered from the consumers, 52% indicate that brand perception of the tyres on their vehicle is an important decisive factor when considering replacement tires. 14% of customers indicate tyre appearance, tread design, and wheel/rim styling are important reasons to select a replacement tire. Also a major chunk of customers indicated that they purchase their tyres from an authorized tyre store. Bridgestone and MRF (881 in a tie) rank highest in overall customer satisfaction. Bridgestone performs well in the ride factor (883) and MRF performs particularly well in appearance (884).
Key findings of the J.D. Power 2016 India Original Equipment Tire Customer Satisfaction Index (TCSI) Study-
- Overall OE tire customer satisfaction averages 873 points, a 5-point increase from 2015. Satisfaction improves across all four factors year over year, most notably in ride (+7 points).
- Customers expect their tires to be problem free. Even one problem can impact satisfaction levels negatively by 57 points, compared to when no problems are experienced.
- The repurchase intent for the OE-fitted brand is extremely strong, with 94% of customers indicating they are likely to repurchase their existing brand. However, those who intend to switch brands indicate personal brand preference and tire quality expectations as the main reasons.
- The study finds that 74% of owners who are highly satisfied (overall satisfaction scores of 955 or higher) with their original tires say they “definitely would” recommend their tire brand. Among customers who are less satisfied (scores of 814 or less), only 38% say they “definitely would” recommend their tire brand.
Speaking on the study, Mohit Arora, executive director, J.D. Power said that the given the fact that tyre brand perception is a key driver when considering replacement tires, and that more customers are purchasing at authorized tyre retailers, OEMs may want to provide a superior customer experience at their authorized tire outlets. He further added that enhanced customer experience during the replacement process can help add to a customer’s perception of the brand. This can lead to higher levels of brand loyalty and more recommendations to friends and family.