MyProductAdvisor.com Reflects Auto Consumer Shifting Sentiment

PALO ALTO, Calif.--(BUSINESS WIRE)--Market Insight Corporation today announced further impacts on shoppers’ brand preferences from Toyota’s major recall, sales suspension, and accompanying media coverage.

“We are closely tracking shifts in consumer sentiment for key market developments.”

“Events associated with Toyota safety have clearly influenced the brand preferences of shoppers,” said Rich Falcone, President & CEO of Market Insight Corporation. “We are closely tracking shifts in consumer sentiment for key market developments.”

As the Toyota story unfolds, the percent of shoppers considering their brand slides downward from 76.4% (prior to the initial recall) to 70% in late January and more recently to 65.4% on February 7. Immediately following the January 21 Toyota recall, several other Asian brands including Honda, Nissan, and Hyundai mirrored Toyota with brief drops in consideration; but all have since returned to their earlier levels, while Toyota has not. In fact, Honda consideration has exceeded Toyota since the beginning of February. Some US domestic brands such as Chevrolet and Ford have seen sharp rises in consideration in early February (53.7% to 62% for Chevrolet). Somewhat surprisingly, throughout this turbulent period for Toyota, the Lexus brand has experienced only a modest drop in consideration.

“The three pillars of value for our market intelligence are its timeliness (‘real-time’), the genuine nature of input from real shoppers, and the large sample sizes that mitigate risk and provide greater segmentation granularity,” said Mr. Falcone.

MyProductAdvisor.com is a winner of the prestigious American Marketing Association’s EXPLOR award recognizing “the most innovative use of technology in applications that advance market research.”

About MyProductAdvisor.com (Market Insight Corporation)

MyProductAdvisor.com is a consumer facing website that provides a real-time portal into the minds of consumers. This real-time service empowers shoppers through a process that gathers their preferences for specific product attributes. MyProductAdvisor.com delivers unbiased buying recommendations to the shopper, and the preferences it collects fuel a powerful consumer intelligence system. Enterprise companies utilize the intelligence as a unique measure of shifting consumer sentiment. Market Insight Corporation, the company behind MyProductAdvisor.com, was established in 2003, and is led by recognized industry executives. The company is based in Palo Alto, California, USA.

www.myproductadvisor.com