NEW YORK, Aug. 27, 2012 /PRNewswire/ -- Whether known for its long-standing role as a sponsor of the Olympic Games and for introducing the first revolving credit card platform back in 1958, Visa now has another achievement to add to its corporate legacy— the 2012 Harris Poll EquiTrend® Payment Card Brand of the Year distinction. 2012 marks Visa's eighth year at the top of the Payment Card category in this annual brand health assessment study from Harris Interactive.
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Visa continues to be a top-ranked performer in three of the study's equity attributes: Familiarity, Quality, and Usage Consideration.
The annual brand equity study from Harris Interactive not only measures Americans' current impressions of various brands, it also shows what attributes product and service brands must strengthen if they hope to excel with consumers.
"While Visa's past and present equity track record is powerful, its future also appears bright," says Aron Galonsky, Senior Vice President, Harris Interactive. "This Brand of the Year posts the highest score in Brand Momentum, a forward-looking metric that takes into consideration Brand Energy, Future Outlook, Ubiquity, and Popularity. It may be Visa's ability to continue to drive its brand momentum that makes its brand leadership so sustainable, year after year."
MasterCard—a direct competitor to Visa—has long been the perennial number two brand in this category, and this year is no different.
Beyond payment cards, the Harris Poll EquiTrend study also evaluates several additional industries within the financial services sector, including Insurance Companies, National Retail Banks, and Super Regional Banks; it then awards the Brand of the Year distinction to the highest-ranked brand in each category.
AAA Debuts as Brand of the Year
American Automobile Association (AAA) earns the title 2012 Harris Poll EquiTrend Insurance Brand of the Year.
"What makes AAA's ranking so interesting is that it offers auto, homeowners', renters', and other types of insurance through other companies," says Robert Fronk, Executive Vice President at Harris Interactive.
While AAA places first in Purchase Consideration, it is likely that consumers' positive experiences with AAA's whole range of services have imparted a halo effect upon the company and its insurance offerings. "There is a lesson that can be learned from AAA," continues Fronk. "By carefully building your brand, you will open doors to other opportunities beyond your core business."
AAA, in its debut appearance, replaces USAA Financial Services, which had been highest-ranked by consumers in three of the past five years. USAA specializes in offering insurance to active-duty U.S. military personnel, veterans, and their families. Meanwhile, State Farm Insurance, which was top-ranked in 2010, MetLife Insurance Company, Travelers Insurance, New York Life Insurance Company, and Allstate Insurance Company follow AAA and USAA and also post equity scores above category average.
Chase Still Highest-Ranked in its Category
In the new Harris Poll EquiTrend category, National Retail Bank, Chase Bank is highest ranked, with top scores in both Quality and Usage Consideration. While second-place finisher, Wells Fargo, has lower Familiarity scores than the other national retail banks surveyed, the bank earns the second spot with above-average Quality and Usage Consideration scores.
BB&T Bank Leads the Regional Charts
North Carolina-based BB&T Bank is the 2012 Harris Poll EquiTrend Super Regional Retail Bank Brand of the Year.
"BB&T has experienced a significant improvement in brand equity in 2012", continues Galonsky. "BB&T's move to the top of the rankings is not only driven by category-high Quality scores, but also by consumers' stronger intention to use BB&T."
Super Regional Bank is a new Harris Poll EquiTrend category for 2012. Buffalo, New York based M&T Bank places second among the super-regional banks, with strong brand equity driven by higher Usage Consideration scores. Meanwhile, Birmingham, Alabama based Regions Bank places third with strong Quality scores.
About Harris Poll EquiTrend®
Harris Poll EquiTrend is a leading Brand Equity Tracking study conducted by Harris Interactive that measures and compares brand health for more than 1,500 brands. The study was conducted online from January 31 through February 20, 2012 and analyzes the responses of over 38,500 consumers on key measures of brand health –including how well the public knows a brand, how positively they think of the brand and their consideration to do business with or donate to a brand. Each brand is rated 1,000 times among respondents who are familiar with the brand. Harris Interactive has conducted its EquiTrend study regularly since 1989, and can offer yearly trended data from 2005. The Equity Score, a key take-away from EquiTrend, has been validated against financial performance by Georgetown University.
These statements conform to the principles of disclosure of the National Council on Public polls.
The Harris Poll EquiTrend study results disclosed in this release may not be used for advertising, marketing or promotional purposes without the prior written consent of Harris Interactive.
Product and brand names are trademarks or registered trademarks of their respective owners.
For a complete listing of all the brands covered in the study, contact Corporate Communications at 212-539-9600 or [email protected].
About Harris Interactive
Harris Interactive is one of the world's leading market research firms, leveraging research, technology and business acumen to transform relevant insights into actionable foresight. Known widely for the Harris Poll and for pioneering innovative research methodologies, Harris offers proprietary solutions in the areas of market and customer insight, corporate brand and reputation strategy, and marketing, advertising, public relations and communications research. Harris possesses expertise in a wide range of industries including health care, technology, public affairs, energy, telecommunications, financial services, insurance, media, retail, restaurant, and consumer package goods. Additionally, Harris has a portfolio of multi-client offerings that complement our custom solutions while maximizing our client's research investment. Serving clients in more than 215 countries and territories through our North American and European offices, Harris specializes in delivering research solutions that help us – and our clients –stay ahead of what's next. For more information, please visit www.harrisinteractive.com.
SOURCE Harris Interactive