Best Brands is the only marketing prize that measures brands’ effectiveness based on two key criteria: commercial success and popularity among consumers. The award that is fully premised on results of complex representative research made by GfK institute.
Best Brands was established in Germany in 2004 as an annual project of Serviceplan Group. The Best Brands global partner in each country is GfK – the biggest in Germany and the world’s fourth-largest research company.
Previously the brands rating has been done either based on their admiration by consumers or based on their commercial success on the market. Best Brands is the first award that combines these two components: emotional appeal and profitability of a brand.
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:
- their actual economic success in the marketplace: market share and consumer preference;
- the perceived popularity of their brand among consumers: brand awareness and emotional appeal.