When it comes to success, on the long term, it takes a little bit more than quality products and consistency. Brand loyalty and reputation play a great role, even though they are both rather difficult to achieve. A recent survey shows that LG beats Samsung when it comes to brand reputation, even though the latter is South Korea’s largest conglomerate.
The survey was conducted by the Reputation Institute and published last week. It shows LG on the 48th position, with Samsung dropping out of the top 50 on the 52nd place. While they ranking fluctuated over the past years, a Korea Herald report mentions, last year Samsung was on the 26th (17th in 2015 and 2016, 70th in 2017) and LG on the 41st spot. Meanwhile, Apple is sitting on the 57th place.
The RepTrak findings did not provide specific reasons for the fluctuations in their performance, but analysts suggested that it might have something to do with various scandals surrounding the tech firms and slowing demand in the industry as a whole.
The report also shows that other giants are having a rough time as well, with Facebook not even making it in the top 100, and Google dropping out of the top 10 “for the first time in almost a decade”. The Korea Herald also mentions that the Reputation Institute survey is based on assessments of 7,600 companies in 50 countries.