The award was presented by Economic Times in partnership with AC Nielsen and was based on their research done covering 15 industries and conducted across 12 tier 1 and tier 2 cities amongst demographics in the age group of 24 – 50 years with a sample size of 7500+ in these towns. As per ET the awardees were shortlisted from a list 500 top brands across these industries evaluated by AC Nielsen. Key Parameters assessed to shortlist brands were based on the below parameters and the combination of these factors is what they believed to make a best brand: 1. Quality 2. Innovation 3.Customer Experience 4.Being Self-critical and Ready to Change 5.Doing less but doing well 6.Not afraid of Challenges 7.Being honest and ethical 8.Passion for Customer and Technology As per ET officials the Best Brands survey acts as a voice for the Indian consumer, and aids in understanding their opinions on Brands in India.