Americans Prioritizing Quality Over Price By Demographic, October 2013 [CHART]
47% of Americans agree (top-2 box score on a 5-point scale) that they would switch brands for one they believe is higher quality, even if the price is higher, according to results of an online survey released by Ipsos OTX. American respondents appear slightly more likely than the average global respondent across the 25 countries tracked to prioritize quality over price. As can be expected, there are some significant differences when looking at the demographic breakdowns, some more surprising than others.
Among American respondents, those from high-income households (52%) were significantly more likely than those from lower-income households (34%) to say they’d switch to a brand with better perceived quality even given a higher price. Similarly, those with high levels of education attainment (57%) apear more likely to prioritize quality over price than those with low levels of education (41%). It’s not too surprising to see socioeconomic variables emerge as indicators – and it’s also fairly unsurprising to see substantial gaps when comparing business owners to their counterparts (57% vs. 45%) and senior executives and decision-makers to respondents not in those positions (61% vs. 44%). Read the rest at Marketing Charts.