Magazine: MagyarBrands is 10 years old: The programme that honours excellent Hungarian brands

Domestic is likely to become more valuable

Zoltán Fekete
secretary-general
Branded Goods Association Hungary

At the breakout of the pandemic, the panic-buying of shoppers was about product categories and brand preferences. Now in the second month of the quarantine, they are buying fewer times, but with a bigger basket value. Price has become more important, which is better for private label products and in certain categories for Hungarian brands. Thanks to the crisis-induced rally around the flag’ attitude, ‘domestic’ products are in a better position. In the near future political, regulatory and marketing communication efforts can strengthen this trend. //

Ties and decisions

Hermann Zsuzsanna
ügyvezető-főszerkesztő
Trade magazin

In the last 3-4 months the world turned upside down and brands made strenuous efforts to help those who were fighting the coronavirus in the frontline. Our magazine conducted a survey in March which revealed: shoppers will care much more about these brands after the end of the crisis, too. During the pandemic, the most important thing for both Hungarian and international brands is to provide shoppers with the same reliable values that they already did before the pandemic. In a situation like this, it is key for shoppers to trust the best alternatives too – and trademarks and certifications can help them in doing so. ////

Building an emotional connection

Bálint Hinora
managing director
Hinora Group

In a crisis situation like the present one, the big question for brands isn’t whether to communicate or not, but what to say and how. Only a handful of Hungarian brands and market players can do this at a high level right now. One thing is for sure, the caring role of brands has become more important, there is more emotional content. Since consumer behaviour is transforming, those companies that pay close attention and make brave decisions can acquire a lasting market advantage. The changing of market conditions gives the opportunity for the brand to help, establish emotional ties and take a big step forward. Brands can show their merits and become part of the daily lives of their target groups. //

Hungarian brands are playing the main role

Zsófia Lakatos
former president
Hungarian Public Relations
Association

It is very likely that consumption habits will change after the pandemic. Probably spending will slow down, consumers will buy less and more smartly. Brands will have to react to new type consumer expectations with new strategies. Smart brands will focus on what is their mission for planet Earth, and on their contribution to the global good. I think that the role of marketing will become smaller in the years to come and public relations are going to get stronger. My view is that Hungarian brands will profit from the looser ties with foreign countries. Programmes such as Magyar- Brands are helping people to realise: often they can buy better, nicer and cheaper domestic products – and by this they are also reducing the burden on planet Earth. // //

The customers have transformed into people

Dr. János Serényi
owner-MD
Értéktrend Consulting

Companies and organisations started using a different vocabulary in the last few weeks. More and more firms are talking about people and not customers in their communication. Many brands are presenting themselves as someone that gives a helping hand. After the initial communication shock, the companies realised that now isn’t the time to stay silent. The big question is: what to say? Some of them take valuable steps to strengthen consumer attachment to their brand, e.g. by buying protective devices and offering free help. Others come up with simple but great ideas: a service provider cut the price of PB gas cylinders by 60 forints to cost less than HUF 5,000, so that bank cardholders can buy them with contactless payment. // //

Changes in communication

Dr. Gedeon Totth
department head, college professor,
head of institute
Budapesti Gazdasági Egyetem

A crisis situation is a good opportunity for companies to target consumers and the public with messages at the same time. Brand and company image building becomes possible by telling what they have done for the common good. ‘Love brand’ is a term that we have heard frequently in recent years. Now we will get a chance to see whether those who had positioned themselves as a love brand strengthened or weakened their image by what they were doing during the pandemic. It is quite probable that brand (and brand owner) behaviour in this period will change how some brands are perceived – the question is how much and for how long? Certain consumption habits, preferences and attitudes are also likely to change. // //