Measuring success for 20 years: double celebration by Superbrands Hungary this year

This article is available for reading in Trade magazin 2024/11

The Superbrands brand rating system

The Superbrands Award is a prize that one can’t apply for and it needs to be earned every year. In the selection process, the national trademark database is an important starting point, as is the Dun&Bradstreet business directory database for business brands. Brand evaluation is supported by the votes of the 40-strong Committee of Experts.

The independent panel judges using a complex, data-driven system, and in addition to market performance it also takes into account the brand’s heritage, reputation, goodwill, innovation and brand building practices.

You can find the list of winners in 2024 on the Superbrands website.

“Those who receive the Superbrands recognition this year can say that they are the proud owners of an award that is authentic and stood the test of time”, told Dr Gedeon Totth, chairman of the Business Superbrands Committee of Experts, BGE Professor and member of the board at the Hungarian Marketing Association.

20 years of superb performance

Coca-Cola, Allianz and Media Markt have won twenty awards. From Hungarian brands, Pick has been awarded for the 20th time. Every year since 2004 Superbrands like porcelain maker Herend, natural cosmetic company Ilcsi and Sziget festival have won the prize.

Thanks to their constant innovation and renewal, finding new target groups and respecting their traditions, these brands have deservedly earned the Superbrands recognition. //

In 2023, nearly 100 brands received the Superbrands Award at the Budapest Music Center

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It increases not only brand equity, but also loyalty

Tamás Barna
managing director
Republic Group

Hungarian brands often rely more heavily on local market knowledge and emotional attachment, while international Superbrands have innovation and greater capital strength on their side. Superbrands enhances the credibility of Hungarian products abroad, but they also need a well-developed international marketing strategy to succeed. Many brands are actively using the communication benefits of Superbrands – such as the logo – to build credibility and consumer trust. However, I believe there are many more ways in which the potential of the programme could be used, as it not only increases brand equity but also loyalty. //

Consistent communication is a must!

Krisztina Bódi
head of
MMSZ HoReCa and Event Chapter

Product quality can only be unquestionable, but the values along which brands need to continue communicating have been the subject of rethinking by professionals recently. Real values always form a good basis for our message, but in today’s communication tsunami no brand can afford not to communicate consistently, therefore well and consciously built brands still have an edge in the race for consumers. The Superbrands award can help in this, as it is a powerful brand in its own right, and it can be a guarantee of quality communication for brand users – plus Superbrands is also an internationally recognised award. //

A quality-based award, not an indicator derived from the price!

Dr. Péter Keresztesi
ügyvezető igazgató
Winehub Holding

Consumer trust, brands and the decline in purchasing power are closely linked. When consumer trust falters, people are more inclined to cut back on spending because they are uncertain about their future economic situation. This also has an impact on brands, as shoppers tend to choose trusted, well-known brands. Superbrands is important for consumers because it calls attention to innovative, quality products regardless of price. Let’s not forget that Superbrands is a quality-based award, not an indicator reflecting the price. //

Credibility is absolutely necessary!

András Kőszegi
brand consultant

My experience is that the quality, durability and reliability of products and the quality of services have deteriorated a lot, so consumer trust has weakened in recent years. Brands should and must do a lot to regain and maintain this trust in 2024. How can this be done? A credible, value-driven, consistent operation and brand presence is essential, instead of simply chasing the latest technological solutions. Consumers are becoming more sensitive, perhaps more aware, and they expect honest, accurate communication and dialogue, because brand loyalty now also means brands being loyal to consumers. //

The downside of AI

Zsófia Lakatos
managing director
Emerald Public Relations

I believe that one of the biggest challenges in the field of consumer trust in 2024 are AI and deepfake. Today it is very difficult for the average consumer to tell what is real and what is not, and trust has been seriously damaged. This is a big challenge for communication specialists, as the prerequisite of a successful brand is for people to believe and trust it. It is becoming increasingly important to have ratings that cannot be bought, which are backed by data, experts and people, such as Superbrands and MagyarBrands. //

New markets or staying home?

Kázmér Nyomárkai
marketing&media
managing partner

Hungarian brands rarely enter foreign markets and even fewer of them successfully compete internationally. The thing is, this is the only way to grow and reach new levels. If a Hungarian company can produce reliable quality, has its own sales and distribution network, special technological know-how and a brand, i.e. a well-known brand name, then it should try to enter the European Union’s market. On the one hand, because there it can operate on a completely different scale, and on the other hand, because if it doesn’t, it risks cannibalising its Hungarian market by an international player from another country. //

AI gives a push!

Dr. János Serényi
owner, managing director
Értéktrend Consulting

In recent years technological innovation has fundamentally changed brand building, with more and more Hungarian Superbrands award-winning companies using the “wonders” of the digital age with great success. AI use is already playing a big role in the marketing strategies of many Hungarian companies. In 2023 several businesses introduced AI-based recommendation systems in their online stores. By analysing customer data, the system can recommend personalised products. Research shows that this results in a 10% increase in basket value on average. Solutions that help to optimise stock levels are also very popular. //

With the current challenges in mind

Ibolya Szabó
corporate affairs director
Dreher Breweries

A fogyasztói bizalom megszerzéséhez, illetve megőrzéséhez ma egy jó márkastratégia szükséges, amely közép-/hosszú távra szól, függetlenül attól, hogy könnyebb vagy nehezebb időszakot élünk. A fogyasztók, hasonlóan a cégekhez, mindig az aktuális helyzethez próbálnak alkalmazkodni, miközben keresik a biztos pontokat. Ebben segíthetnek a megbízható, transzparens és értékteremtő márkák, amelyek társadalmi és fenntarthatósági témák kapcsán érzékenyek, és képesek alkalmazkodni a folyamatosan változó piachoz.

A családi kasszától függően többször is meggondolják a fogyasztók, hogy mire költik a pénzüket, és egyre jobban odafigyelnek arra, hogy mit hol vásárolnak. Éppen ezért fontos, hogy a márkák célzottan, csatornaspecifikusan és megújulásra készen tervezzenek a stratégia mentén, és figyelembe vegyék az aktuális kihívásokat.

A Superbrands maga egy nemzetközi brand, amely azt jelenti, hogy ugyanazt kell jelentenie mindenhol. Ha ezt minden országban transzparensen építik, akkor minden releváns piacon fontos értéket tud jelenteni a Superbrands márka.

Számos fiatal kolléga érkezett a szakmába, akik számára nem feltétlen ismert vagy eléggé ismert a Superbrands. Hogy a kínált kommunikációs lehetőségekkel ők is élni tudjanak, lehet, hogy érdemes lenne kimondottan a Z-generációnak tartani egy Superbrands edukációs workshopot. //

Value to consumers and positioning

Dr. Gedeon Totth
consultant, lecturer
Budapest Business School

Today three things are necessary to win and retain consumer trust: continuous and coherent communication, a performance that consumers expect and offering value to them, and the third one, which is a little more difficult to define, meeting consumer expectations in relation to the given item, which in this case manifests as the brand. Brand reaction to the drop in purchasing power depends essentially on the positioning of the brand. Superbrands is an international recognition that can clearly build on image transfer. It can also assist Hungarian brands in gaining international recognition. //

Customers no longer just buy a product, but also the value the brand represents

Dr. László Újszászi Bogár
influence and persuasion expert

Today earning and retaining consumer trust is a multifactorial formula. Firstly, there is transparency: customers are no longer just buying the product or service, but also the values that the brand represents. It is also essential to be responsive, flexible and to continuously incorporate customer feedback. Numerous studies show that consistency is less important than it used to be. The Superbrands programme can be an excellent tool for brand communication, but unfortunately many companies don’t exploit its potential. They use the recognition as a decorative element rather than an active branding tool. //