The glamour and grandeur of the 16th edition of the Best Brand Award lit up the Intercontinental Dhaka on December 26, 2024, as Bangladesh Brand Forum, the largest platform for brand practitioners and enthusiasts in the country, honored the very best in branding. In this annual ceremony, 44 brands across 44 distinctive categories were awarded for their exceptional business value and contributions to consumer life. The night also witnessed the crowning of the Overall Top 15 Brands of Bangladesh, with bKash, Grameenphone, and RFL Houseware taking the top three spots. Additionally, Gree was recognized as the Most Emerging Brand for its remarkable rise in brand equity over the past three years.
This year’s event was more than just a celebration of brand excellence. It was a powerful reminder of the significant role that brands play in shaping the nation’s economy, culture, and society. With 60 awards presented in total, including the recognition of the 2nd and 3rd Most Loved Brands in each category, the ceremony highlighted how brands are more than just names—they are drivers of change and symbols of trust. Other winners in the prestigious Top 15 Brands list included local icons such as Radhuni Masala, Closeup, ACI Pure Salt, Shwapno, Sunsilk, Walton, and Maggi, among others. This wide array of winners was a testament to the diversity and strength of Bangladesh’s local brands, which are making a mark both nationally and globally.
The award ceremony followed a rigorous study conducted by nSearch Ltd. to evaluate and select the winners. The research covered a vast demographic, with 11,200 interviews conducted across Bangladesh’s eight divisions, including both urban and rural areas. The methodology, based on the Brand Equity Index and a multiplicative cross-category model, ensured that the award process was comprehensive, transparent, and aligned with the country’s rapidly evolving market landscape. Khandaker Samina Afrin, Managing Director of nSearch Limited, took the stage to explain the detailed methodology behind the awards, highlighting the importance of consistent data collection and evaluation.
Shariful Islam, the Founder and Managing Director of Bangladesh Brand Forum, emphasized the growing influence of brands in his inaugural speech. He said, “Brands are no longer just about the products we consume—they shape how we live, connect, and envision the future. As a brand evolves, so do its responsibilities toward the nation and society, becoming powerful drivers of positive change.” He further added, “Tonight, we celebrate those brands that have excelled in their business pursuits and made meaningful contributions to the growth of Bangladesh’s economy and the betterment of our collective lives.”
Bangladesh Brand Forum’s Best Brand Award, which began in 2008, has steadily grown to become the country’s most prestigious branding recognition. More than just an award, it serves as a benchmark for businesses striving for excellence. The recognition is not limited to product quality alone but also celebrates innovative marketing, social responsibility, and sustainability efforts—qualities that have become essential to modern branding practices. Over the years, the award has created a ripple effect in Bangladesh’s branding ecosystem, encouraging brands to innovate, connect with consumers on a deeper level, and contribute to the nation’s overall growth.
Initiatives like the Best Brand Award are critical in inspiring brands to continually improve and adopt best practices in branding. In a rapidly globalizing world, brands are increasingly expected to act as thought leaders and change-makers. They are no longer judged solely by the products they offer but also by their social and environmental footprint, their ability to engage with consumers meaningfully, and their contribution to national growth. By celebrating the successes of top brands and sharing their best practices, the Best Brand Award plays a crucial role in guiding other businesses to emulate their success. It challenges brands to think beyond profit margins and focus on creating long-lasting relationships with their customers. Furthermore, it encourages brands to be more responsible, forward-thinking, and aware of the impact they have on both society and the environment.
As Bangladesh continues its journey of economic transformation, awards like the Best Brand Award are a powerful reminder of the role branding plays in shaping the future. They highlight the importance of consistency, innovation, and customer-centricity in building a brand that stands the test of time. Whether it’s through pioneering digital marketing strategies, sustainable practices, or by simply connecting with consumers on an emotional level, the Best Brand Award serves as a celebration of the most impactful brands that inspire us to dream bigger, aim higher, and work together toward a brighter future for Bangladesh.
Methodology for Best Brand Award 2024
To capture the overall ranking of brands within a category and across categories, nSearch Ltd. 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 have been measured and weighted by MOUB (Most Often Used Brand) and Brand Repertoire. For overall comparison, the 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.
CROSS-CATEGORY METRICS USED
Multiplicative algorithm and application of weights on the following cross-category metrics to arrive at final ranks:
< Category Involvement -To decode consumers’ involvement in the category: high/medium/low involvement categories. A 10-point scale used to understand underlying differentiation
< Role of Branding in each Category – level of brand loyal vs. repertoire vs. price/convenience-seeking consumers in a category*
< Brand Differentiation – How differentiated the Brand is vis. a vis. Competitions.
< Brand Innovation – How innovative the brand is setting trends in the market.
ONLINE/MOBILE SELF ADMINISTRATED INTERVIEW
nSearch Ltd. shared text messages with consumers across the country consisting the web link to the survey.
When respondents clicked the link they were taken to the web questionnaire. Then they submitted their responses.
Data gets stored in the nSearch Ltd. Server. Then nSearch team filters out the responses outside the scope and closes the interview when the required sample size is achieved.
IN-CATEGORY EVALUATION USED
Determine where to focus marketing attention to strengthen equity. Brand Equity Index included –
CROSS-CATEGORY METRICS USED
Multiplicative algorithm and application of weights on the following cross-category metrics to arrive at final ranks:
- Category Involvement – To decode consumers’ involvement in the categories: high/medium/low involvement. A 10-point scale was used to understand underlying differentiation.
- Role of Branding in each Category – level of brand loyalty vs. repertoire vs. price/convenience – seeking consumers in a category.
- Brand Differentiation – How differentiated the Brand is vis. a vis. Competitions.
- Brand Innovation – How innovative is the brand in setting trends in the market?
ONLINE/MOBILE SELF ADMINISTRATED INTERVIEW
nSearch Ltd. shared text messages with consumers across the country consisting of the web link to the survey.
When respondents clicked the link, they were taken to the web questionnaire. Then, they submitted their responses.
Data gets stored in the nSearch Ltd. Server. Then, the nSearch team filters out the responses outside the scope and closes the interview when the required sample size is achieved.
QUALITY CONTROL STANDARDS
nSearch Ltd. adheres to the highest rigour in all studies, including Pre-fieldwork, During Fieldwork and Post-Fieldwork controls. This time we have conducted the study following the mobile/online method. Preparation of the questionnaire and translation check for better understandability have been considered in the PreFieldwork phase. However, telephonic back check, the average length of interview check and the data-cleaning program by checking each field for the validity of range and logic ensured the effectiveness of post-field, work activities.
ENSURING QUALITY THROUGHOUT THE PROCESS
Following are the glimpses according to which the overall quality throughout the process has been ensured for the mobile/online study conducted this year.
15% – Telephonic back check
30% – LOI & Logical Checks
45% – Data Requisition Level Check
Partners
An initiative of Bangladesh Brand Forum, Best Brand Award 2024 was held in partnership with nSearch Ltd. and in association with The Daily Star, Strategic Partner – International Advertising Association Bangladesh (IAAB); Knowledge Partner – Marketing Society of Bangladesh (MSB); Technology Partner – aamra Networks Limited; PR Partner – Backpage PR.
