BRAND IS AN EXPERIENCE.
From our yearly budgetary luxury products to the day-to-day domestic FMCG products, we rely on brands. The connection that we share with particular brands for particular needs is based on a long-time faith and credibility. These brands, over the years, have grown with our satisfaction and timely demand.
The long journey of a brand entails different marketing strategies in line with customers’ needs. Some brands rise in the market, keeping all our expectations effluent and winning our hearts. These are the most loved brands.
Bangladesh Brand Forum, with its core philosophy of ‘Inspiring The Nation,’ has been active in recognising the most loved brands of the year. So, the Best Brand Award is a gala occasion when the Bangladesh Brand Forum hands over the prestigious crest to the best brands of the year in different categories chosen by the people of the country.
The 14th edition of the Best Brand Award to honour the most loved brands of Bangladesh took place through an auspicious gala ceremony at The Grand Ballroom, Le Méridien, Dhaka, on December 24, 2022. The much-anticipated accolade in the branding fraternity of Bangladesh was organised in partnership with Nielsen IQ and association with The Daily Star.
Bangladesh Brand Forum initiated the Best Brand Award in 2008 to inspire and honour the most loved brands in the country. Now, after more than a decade and long establishment, this successive accolade has become the signature and leading branding recognition in Bangladesh. The objective of the Best Brand Award is to demonstrate and celebrate the success of the brands achieved through tough and effortful initiatives. Around 500 professionals from the nominated brands and their marketing communities, attended the gala ceremony.
On its 14th edition, the most loved brands were recognised as 1st, 2nd, and 3rd in 38 distinct categories. The initiative also recognised 15 overall top brands in the country.
Inauguration of the Ceremony
Inaugurating the gala ceremony, Nazia Andaleeb Preema, Director & Creative Editor, of Bangladesh Brand Forum, said, “All my life, I have perceived the brand as storytelling. But in the modern times, it is much more than that. Storytelling is not enough in this era. The next level of storytelling entails enhancing people’s lives, changing global perspectives, and making this world a better place.”
She further said, “The brands we are celebrating tonight have given us memories over time. They have created stories. Our future generations will also love them from the core of their hearts. That’s what we call the Most Loved Brands.
After the welcome speech, Mr Asif MS Mahmud, Associate Director, CS, NielsenIQ, gave a detailed speech describing the Best Brand Award methodology. He explained how, through the support of Bangladesh Brand Forum and the expertise of NielsenIQ, the best brands are picked. The process includes an accurate consumer lens that gives clarity after being analysed through expert research.
In his speech, he explained the methodology and the learnings found through numerous surveys and analyses.
Methodology of Best Brand Award 2022
Best Brand Award started its journey with Nielsen Bangladesh in 2009 based on a global model (Winning BrandsTM) done through a direct consumer survey of 4000 consumers across the country. After 5 years, BBF has partnered with Nielsen Bangladesh again from the 11th edition of the award.
The survey for the 14th edition of the Best Brand Award has been conducted in eight divisions of Bangladesh, covering both urban and rural areas. A total of 10000 interviews have been taken of equal percentage of male and female. The approach of this research was based on two key considerations- in category evaluation, based on BRAND Equity Index, which is Nielsen’s proprietary Winning BrandsTM, and Cross-Category Harmonisation with a multiplicative model to harmonise across categories on category-relevant parameters. The data collection method was based on online and self-administrated interviews. The study has covered 38 categories.
To capture the overall ranking of brands within and across categories, NielsenIQ has done an evaluation based on two key considerations. For in-category evaluation, the Brand Equity Index, consisting of Brand Salience, Consideration, Preference (Favorite Brand), Recommendation, Willingness to pay Price Premium, Emotion, Brand Fit, and Relevance has been measured and weighted by MOUB (Most Often Used Brand) and Brand Repertoire. For overall comparison, Multiplicative Model has been used to harmonize across categories on category-relevant parameters – Category Involvement, Role of Branding in that category, Brand Differentiation and Innovation.
Unveiling the Best Brands
Following the opening speech, and the presentation on the methodology, the grand award ceremony of celebrating brands started. Prestigious brand-marketing experts and industry veterans were invited to hand over the crests to the representatives of winning brands. The best brands of each category and the overall top 15 brands were awarded the signature crests of the Best Brand Awards.
Patrons and Partners
An initiative of Bangladesh Brand Forum, Best Brand Award 2022 was held in partnership with Nielsen IQ and in association with The Daily Star, Strategic Partner – Bangladesh Creative Forum; Knowledge Partner – Marketing Society of Bangladesh (MSB); Technology Partner – Aamra Networks Limited; PR Partner – Backpage PR.
