In the past, brand rankings have either assessed the success of a brand solely on the basis of how consumers value the brand image or only on the basis of its commercial success on the market. Best Brands is the first brand ranking that combines these two components to create transparency – the emotional aspect of the brand on the one hand and profitability on the other. What’s more, it is not the subjective opinion of a jury that decides the winners of the best brands awards; instead, the winner is determined exclusively by the consumer.
Best Brands is the only marketing award that measures the strength of a brand against two criteria, based on a comprehensive, representative study carried out by GfK: the actual commercial success on the market (“Share of Market”) and the attractiveness of the brand (“Share of Soul”) according to the consumers, who ultimately account for the future success of the brand as well.
The stand-out feature of the event is that the winners are chosen not by a panel of judges but solely by consumers – for the award-winning candidates are determined in a complex study conducted by GfK consumer research institute.
The brands ranking is based on two key yardsticks: