Hungarian brands are valuable – this is the message of MagyarBrands

Dr. János Serényi,
president of the MagyarBrands programme

‘The pandemic thoroughly changed consumer expectations. Besides awareness, popularity and price values such as care, help, compassion and support have been growing more and more important. The same tendency shows in relation to Hungarian brands: they don’t just want to sell, but also give and help. Brands no more interact only with customers, but Human Beings. And we congratulate to those who excel therein’ – Dr János Serényi, president of the MagyarBrands programme told.

MagyarBrands Programme has been rewarding the most successful Hungarian brands for 12 years

Since 2009, the MagyarBrands award is given in three categories: Excellent Consumer Brand, Excellent Business Brand and Innovative Brand. From among the aspects examined in the selection process financial status, reputation and market reception are of special importance. The selection process is rounded with the assessment of a professional jury.

A brand excelling in every aspect may be entitled to the Excellent Brand title. In 2021 some 850 brands succeeded.

MagyarBrands programme rewards Hungarian brands in 3 categories

Excellent Employers

Brands performing outstandingly in the MagyarBrands Programme may also test themselves in the Excellent Employer Brand category.

For more information of the Programme, please go to www.magyarbrands.hu. (x)

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Correlations

Tamás Barna
managing director
Republic Group

I study behavioural economics a lot, because I want to understand the motivation behind consumer decisions. There are many factors influencing emotional and rational decision-making, for instance sector, target group and product function must also be kept in mind. The world keeps changing around us and we must adapt to this actively. If we wish to develop, we need to look forward and get inspired by the latest consumer needs to create those innovations that shoppers will want to buy in the future. //

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Future-shaping decisions

Zsuzsanna Hermann
MD-chief editor
Trade magazin

Because of the economic and social challenges that the coronavirus generated, employer branding is now more important than ever before: companies must send a message of stability and reliability to both existing and future employees. How brands perform in this critical period will have a long term influence on corporate culture, the company’s reputation, and its ability to recruit and keep workers. The processes that have commenced in employer branding can hardly be reversed anymore; on the contrary, they are likely to play a bigger role in realising branding goals. //

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Employees decide, consumers decide

Bálint Hinora
managing director
Hinora Group

Employer branding started 5-7 years ago at Hungarian brands and companies are now very busy in this field. HR and marketing departments work together to plan and implement campaigns, the best of which are rewarded by the trade every year. Another important issue is the factors that influence consumers in their choices. No matter how rationalistic these decisions seem to be, there are always emotions behind them. Today a brand is basically what consumers feel towards a product or service. //

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Employer branding and customer experience

György Káli
service designer
Humanize Studio

The coronavirus pandemic generated drastic changes on both the consumer and the corporate sides: digitalisation and the economic situation force companies to reinterpret their relationships with their customers and workers alike. We can see from the employer branding themed entries of the MagyarBrands programme that not only acquiring new customers is important, but also recruiting and keeping workers. Studies have found that if employees are satisfied, customers will also be satisfied – and then the company’s revenue will increase. //

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Ariadne’s thread

Lakatos Zsófia
ügyvezető
Emerald Public Relations

When everything seems to be collapsing around consumers because of the pandemic, people are trying to hold on to the things they are familiar with, the products they can trust. Winning an award such as MagyarBrands gives credibility to brands and validates their reliability. This way they help consumers – and if the recognition is communicated professionally to them, shopper trust can be established for the long term. //

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Are Leo and the Great Gatsby making a return?

Nyomárkai Kázmér
stratégiai igazgató
Marketing és Média

The world turned upside down a little less than two years ago and we still don’t know when things will get back to normal. In extreme situations like this consumers aren’t behaving rationally either. Once the years of trouble are over, the world won’t be the same but a different one, perhaps something like the period after World War I, when things were buzzing in many areas. Just think of the movie The Great Gatsby – I wish we were already there! //

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Flexibility and empathy

Dr. Serényi János
tulajdonos, ügyvezető igazgató
Értéktrend Consulting

When experts analyse successful businesses of the present, they keep stressing the importance of flexibility and empathy. It is a good example of the former that TikTok – formerly dismissed by major companies and experts as child’s play – is now a more and more important tool in corporate communication. As for empathy, its significance is growing in a world that is increasingly about robotics, artificial intelligence and the virtual world. It seems to me that MagyarBrands winners are also focusing on the individual. //

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Dr. Gedeon Totth
head of the Marketing Department,
college professor
Budapest Business School

Employee value

High quality products can only be made from the best ingredients, and in a certain sense this is also true for workforce. On the other hand, employer branding has become important because of the market competition. A wider interpretation of what a brand is has contributed to the birth of employer branding, as brand equity isn’t only important from a consumer perspective, but also from a potential employee viewpoint. A brand that offers relevant value is more attractive to workers as well. //