LG named as a Business Superbrand
LG announced as one of the UK's strongest business-business brands
London, UK, 25 February , LG Electronics (LGE), a leader in consumer electronics and mobile communications, was today announced as one of the UK's leading business brands in the Business Superbrands 2008 list. The announcement follows a robust selection process tapping into the views of an independent and voluntary council of experts and over 1500 business professionals, the latter surveyed by research agency YouGov.
Business Superbrands is a unique initiative from the Superbrands organisation, the global branding arbiters. Business Superbrands is in its eighth year and has become a key barometer on the performance of brands across a wide variety of sectors.
'With talk of significant slowdown in the economy over the next 12 months, it is reassuring to those companies achieving Business Superbrands status that they possess a powerful, respected and recognised brand that should assist them in mitigating risk, negating the downturn and outperforming competitors,' comments Stephen Cheliotis, chairman of the Business Superbrands Council for 2008.
'The essential components that define a Business Superbrand ' quality, reliability and distinction ' help make a business strong enough to see off the challenges bought about by a deteriorating economic climate.'
As a Business Superbrand, LG has become extremely desirable among many business leaders and influencers.
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Notes to editors
About Business Superbrands
The Top 500 league of Business Superbrands is compiled by a council of senior business leaders and an independent survey of 1,500 professionals. The list reveals the brands that have established the finest reputations in their fields and make the most impact on the UK business sector.
The process of finding the UK's b2b branding champion's started when an initial population list of thousands of b2b brands was compiled by independent researchers. A short list of just over 1300 brands was generated from this, which was sent to the 26 person voluntary and independent Business Superbrands council, a group which is revised each year and features marketing authorities from a variety of fields. The 50% of brands rated lowest are eliminated; the top 50% are sent for rating by business professionals after which, a combined score is produced and a new league table devised. Another third are eliminated leaving the remaining 500 brands, which are awarded Business Superbrands status.
Brands are rated on the following three factors;
1) Quality, i.e. does the brand represent quality products and services'
2) Reliability, i.e. can you trust the brand to deliver consistently against its promises and maintain product and service standards across all customer touch points'
3) Distinction, i.e. is the brand well known in its sector, is it suitably differentiated from its competitors and does it have a personality and values that make it unique within its market place.
The Superbrands Organisation presents expert and consumer opinion on branding. In the UK the core programmes include: Superbrands, Business Superbrands, and CoolBrands. Each explores the leading brands in these respective fields.
Each annual programme has an independent selection process that seeks the opinion of an expert Council and a nationally representative sample of consumers. This process generates an annual 'Top 500' for each programme which is published in the national and trade press and in the relevant Superbrands publication.
Each brand in the Top 500 is awarded 'Superbrands', 'Business Superbrands' or 'CoolBrands' status. These leading brands also have the opportunity to participate in a wider programme to help maximise their status. This optional programme, for which an annual fee is payable, is administered by Superbrands (UK) Ltd. Programme benefits include a case study in the relevant Superbrands publication, use an exclusive award stamp, PR & Marketing services, access to members-only networking service, and tickets to various events.
Superbrands programmes operate in over 60 countries worldwide and are administered by a local licensee of which the UK company is one.