The CNBC Consumer Awards 2007 were given away at a glittering ceremony in Mumbai on August 24. LG Electronics emerged as the most preferred brand in the Consumer Durables category with its CTVs, ACs, refrigerators and washing machines finding favour among India’s consumers.
Reacting to the win, Moon B Shin, Managing Director, LGEIL, said, “LG has set benchmarks in the business of consumer durables. It is an honour to receive these awards especially because it comes directly from the consumers. It has been our endeavour to create an exceptional brand which showcases the principles of the company, and I am confident that we will continue to grow and scale up our design and delivery, to preempt present and future needs of our customers.”
The winners were declared based on the research conducted by The Neilson Company, which covered nearly 42 product and service categories across the country and covered 34 centres involving around 10,000 respondents.
The ceremony began with a presentation by Renee Thomas, Partner-Mckinsey, on the Indian consumer market, ‘The Bird of Gold Consumer Report: The Rise of India’s Consumer Market’.
Thomas’ presentation was followed by a high powered panel discussion on ‘Is Consumer the King?’ that sought to understand the perspective of regulators on consumerism. The panel discussion was moderated by Vivek Law, Editor, CNBC, Consumer Affairs, and featured regulators like Usha Thorat, Deputy Governor, RBI; C S Rao, Chairman, IRDA; and Raj Lakshmi, Member, National Consumer Disputes Redressal Commission.