New Luxury Institute Brand Trust Survey
High net-worth consumers rated Children’s Hospital of Philadelphia the most trusted non-profit organization in the new 2008 Luxury Brand Trust Index (LBTI) survey from the independent New York City-based Luxury Institute (www.LuxuryInstitute.com).
Respondents who said they trust this non-profit entity say they have "groundbreaking and innovative research," and "provide top-of-the-line care and treatment for sick children." St. Jude Children’s Research Hospital and Shriners Hospitals for Children rank second and third, respectively.
"Non-profits are accountable to society, their donors, and most importantly, to their constituents," said Milton Pedraza, CEO of the Luxury Institute. "Yet, this industry conducts very little customer satisfaction research, either with donors, or the people they are intending to help, never mind make it publicly available for donors to judge.
"High net-worth consumers are the largest donors, and are expecting, even demanding, measurable results, transparency, lack of conflicts of interest, and fiscal responsibility from non-profits. Our impartial surveys are a barometer of the trustworthiness of these non-profits, not according to conflicted experts, or to committees, but, to the collective voice of high net-worth consumers themselves," added Pedraza.
Following are the 41 non-profit organizations rated by wealthy consumers:
1. American Cancer Society 2. American Heart Association 3. American Red Cross 4. Americas Second Harvest 5. Boy Scouts of America National Council 6. Boys & Girls Clubs of America 7. CARE USA 8. Catholic Charities USA 9. Catholic Relief Services 10.Cedars-Sinai Medical Center 11.Children's Hospital 12.Children's Hospital of Philadelphia 13.Cleveland Clinic Foundation 14.Dana Farber Cancer Institute 15.Easter Seals 16.Feed the Children 17.Girl Scouts of the USA 18.Goodwill Industries International 19.Habitat for Humanity International 20.Mayo Clinic 21.Memorial Sloan-Kettering Cancer Center 22.Metropolitan Museum of Art 23.Mount Sinai 24.Museum of Fine Arts, Houston 25.Museum of Modern Art 26.Nature Conservancy 27.New York-Presbyterian Hospital 28.Planned Parenthood Federation of America 29.Public Broadcasting Service 30.Salvation Army 31.Shriners Hospitals for Children 32.Smithsonian Institution 33.St Jude Children's Research Hospital 34.The Arc of the United States 35.UJA/Federation of New York 36.United Cerebral Palsy Association 37.United Way 38.Volunteers of America 39.World Vision 40.YMCAs in the United States 41.YWCA of the USA
The proprietary Luxury Brand Trust Index (LBTI) survey is the only measure of the trustworthiness of leading brands among wealthy Americans. A national sample of 1,666 wealthy American consumers was surveyed online. The average income was $348K and the average net-worth was $3.7 million,. The LBTI asks respondents to rate the brands along six main "pillars" of brand trust:
-- Trust in brand to deliver superior quality products and offerings -- Trust in brand to deliver of superior customer service -- Trust in the brand as an innovator and leader in its industry -- Trust in employees who deliver an exceptional experience -- Trust in company using the highest legal, ethical and moral standards -- Trust in the company as a "good corporate citizen"
In addition, the survey also measures the key "outcome" metric of bottom line trust in the brand.
Finally, qualitative responses are collected by brand to understand why consumers trust or do not trust each of the brands they are familiar with as well as what one thing wealthy consumers would change about the brand.
Survey results are weighted to match demographic and net worth profiles of the same audience according to the latest Survey of Consumer Finances from The Federal Reserve.
About the Luxury Institute
The Luxury Institute is the uniquely independent and impartial ratings, reviews and research institution that is the trusted and respected voice of the high net-worth consumer. The Institute provides a portfolio of proprietary publications and research that guides and educates high net-worth individuals and the companies that cater to them on leading edge trends, high net-worth consumer rankings and ratings of luxury brands, and best practices. The Luxury Institute also operates the Luxury Board (www.LuxuryBoard.com), the world’s first global, membership-based online community for luxury goods and services executives, professionals and entrepreneurs. To reach the Luxury Institute, please call 646-792-2669 or go to www.LuxuryInstitute.com.
Contact: Martin Swanson Vice President, Business Development The Luxury Institute (office) 914-909-6350 (cell) 914-715-3357 Email Contactwww.LuxuryInstitute.com
SOURCE: Luxury Institute