Tractor owners’ age impacts satisfaction and brand recommendation, JD Power
Tractor performance satisfaction is 20 points lower (on a 1,000-point scale) among owners younger than 35 years of age, compared with those who are older than 35, according to the JD Power 2018 India Tractor Product Performance Index (PPI) study, released earlier this week. In addition, owners younger than 35 years are less likely to recommend their tractor brand to a colleague or friend than their older counterparts. Nearly two-thirds (63%) of younger buyers say they “definitely would” recommend their tractor brand to friends and relatives, compared with 68% of older buyers who say the same.
“Tractor owners’ overall satisfaction with product performance improves to 841 from 823 in 2017, illustrating a second consecutive year of improved satisfaction. The increase in satisfaction is observed in both the machine performance and quality and reliability indices,” JD Power said in a statement.
“Younger cohorts in rural India are increasingly less influenced by word-of-mouth referrals in their new-product purchase decision and are evaluating products and services on several aspects before finalising their purchase, while also displaying lower brand stickiness,” said Yukti Arora, practice lead at JD Power.
“With a multitude of choices available, greater information accessibility and strong desire to explore different options, the younger generation of tractor buyers is relatively harder to please. Thus, the success of tractor manufacturers in attracting and retaining the attention of this new generation of buyers hinges on creating value that resonates with them. This set of progressively informed and demanding customers is exerting pressure on OEMs to exhibit unprecedented agility in delivering at a pace that matches their heightened and continually evolving expectations.”
The study also noted a high increase in cross-shopping rate among new tractor buyers over the last four years, with 21% customers stating they considered another tractor brand before buying their tractor in 2018, compared to only 14% in 2015. “Just being there is no longer enough to succeed in this market. To navigate through a crowded field of enhanced product offerings and latest technologies, tractor manufacturers need to create distinct experiences that stand out from the clutter,” added Arora. Other findings from the study include: Above 50 HP segment posts highest satisfaction;