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Trust is at the heart of Purchase Consideration Understandably, consumers are willing to start a conversation with brands they only trust. Automobiles: Auto consumers expect brands to share values that are similar to their own. The research shows that 85% of consumers will only consider a brand they trust.
Congress gave the FTC the authority to write rules governing the retail sale of automobiles, using APA rulemaking and not the more cumbersome Magnuson Moss rulemaking that the FTC normally must follow in consumer protection rulemakings. This authority is no small matter, as on June 30, the Supreme Court issued its decision in West Virginia v.
To beat the transactional or conversion-based marketing, and ingrain value-based marketing, brands must rethink ways in which they can personalize communication with consumers and share values they believe in. The automobile consumers are 7x more likely to consider a trusted brand, financial services consumers 4.7x, and retail consumers 2.8x.
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