Superbrands is a global media, communications and publishing business which operates in 88 countries around the world. Launched in 1995, Superbrands has become the biggest success symbol for brands. The signature publication which shares stories of each Superbrand, is a coveted book for senior executives in advertising, marketing, brand management and in the media. Even consumers, with no direct involvement in branding, are fascinated by the information the book provides.
Why does achieving this status matter? What makes the Superbrands seal so important for a brand? The Nielsen Company took a large online research across 48 countries to identify consumer reactions to the Superbrands name and Award Seal. The survey found that 74% of consumers who recognized the Superbrands name claimed to be much more or more likely to buy products associated with the Superbrands Award logo, and 69% would be much more or more likely to recommend the product/service. For those respondents that were unfamiliar with the Superbrands name/logo, 60% associated the word ‘Superbrands’ with a product/service of high quality.
Superbrands are selected through a process which involves independent and voluntary panels of experts from a range of backgrounds, known as the ‘Brand Council’. This panel is able to bring their knowledge of the local market, within the different categories of industries. Each Council member truly is an unquestionable leader who has a significant standing within the industry and is highly rated by his/her peers. They are well-respected senior figures who have the experience and whose opinions are valued.
Through their ratings, the panel must decide which brands have achieved the capability to command respect from its customers and thereby be able to command a premium and so rise above the average business. The brands should have excelled in their field through the knowledge, capabilities and focus they have put into their business. And these values are captured in their brand. The brand is therefore known for those qualities of excellence.
In Bangladesh, Superbrands for the year 2018-2020 have been selected by a brand council consisting of eminent brand experts. Which Bangladeshi brands have achieved the status? The names are to be revealed through a grand ceremony in August; the ceremony will also mark the unveiling of Superbrands publication for the next two years.