SOURCE: Luxury Institute

October 14, 2008 11:08 ET

Luxury Institute Survey: Wealthy U.S. Consumers Rate the Most Prestigious Business Websites: Wall Street Journal, Fox Business News and Harvard Business Review

NEW YORK, NY--(Marketwire - October 14, 2008) - High net-worth consumers rated The Wall Street Journal (www.WSJ.com) by far the most prestigious business website in the new 2009 Luxury Brand Status Index (LBSI) survey from the independent New York City-based Luxury Institute (www.LuxuryInstitute.com). Respondents who would recommend the Journal's website say, "I wouldn't miss a day of it! It's the one thing I read constantly," and that "the content of the website helps foster a better understanding of economic issues and trends." Another Murdoch property, Fox Business News (www.FOXBusiness.com), was ranked second. Harvard Business Review's (www.HarvardBusinessReview.com) site was ranked third.

"In a financial crisis of confidence, wealthy consumers reach for The Wall Street Journal online and offline to get their critical updates," said Milton Pedraza, CEO of the Luxury Institute. "Few brands come close to the ratings that the WSJ merits with high net-worth consumers, and while Wall Street itself has lost its prestige, The Wall Street Journal keeps gaining prestige. Our impartial and independent surveys deliver the voice of the high net-worth consumer to the luxury industry. In especially difficult times, luxury needs impartial data to make advertising decisions."

Following are the 28 business websites brands rated by wealthy consumers (in alphabetical order):

Barron's
Bloomberg
Business Week
CNBC
CNN Money
Drudge Report
The Economist
E-Trade
Fidelity Investments
Financial Times
Forbes
Fortune
Fox News Business
Google Finance
Harvard Business Review
Inc.
Investor's Business Daily
Kiplinger's Personal Finance
Market Watch
Morningstar
MSN Money
MSNBC Business
New York Times (Business Pages)
Schwab
SmartMoney
Wall Street Journal
Washington Post
Yahoo! Finance

The proprietary Luxury Brand Status Index (LBSI) survey is the only measure of the prestige of leading brands among wealthy Americans. A national sample of 1,600 wealthy American consumers was surveyed online. The average income was $349K and the average net-worth was $3.4 million.

The LBSI for business websites asks respondents to rate the brands along four main "pillars" of brand stature:

--  Subject matter expert among its competitors
--  Content and articles that are helpful and relevant
--  Advertising that is appropriate for "people like me"
--  Superior visual appeal
    

In addition, the survey also measures three key "outcome" metrics, which are compared to the category LBSI:

--  Worthiness of a significant price premium
--  Willingness to recommend the brands to people they care about and why,
    or why not.
--  Brand preference as the brand most likely to be considered the next
    time a purchase is made
--  A new feature of the survey is the question: 'what is the one thing
    you would change about each brand, besides price, if you could.'
    

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.

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