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BRAND EVALUATION METHODS

 
25.05.2021 20:35
Автор: Yalovega Natalia, PhD, HEI of Ucoopspilka “Poltava University of Economics and Trade”
[Секція 2. Менеджмент. Маркетинг;]

The development of brand assessment methods is designed to enable companies to evaluate their own brand, understand the market position of their products, how to promote the brand, what marketing efforts should be used to increase consumer and public loyalty to the brand of the company or product.

Direct methods of brand valuation include [1]:

1. Method of total costs. This method is to calculate all the costs of creating and promoting a brand: the cost of research and development, artistic design and packaging, legal registration and protection, the cost of advertising, promotion and public relations. This method can be used by all manufacturers, as it is easy and simple to use.

2. Method of information evaluation and evaluation of the franchise. When planning future sales, usually use equations that allow you to translate the communication budget into a statement, statement into samples, and samples - the resulting consumption.

Indirect methods of brand valuation [2]:

1. Method of additional income. One of the most popular ways to assess the value of a brand. According to this technique, determine the degree of brand awareness, the number of buyers who prefer this brand, the degree of loyalty, price elasticity. From the price that consumers are willing to pay, the usual price is deducted, the difference must be multiplied by the planned sales volume and the average lifespan of the brand in this product category. If a branded product is sold at the same price as usual, the value of the brand by this method is determined by the difference in sales. This method has limitations, because the big problem is the ability to assess the dynamics of brand loyalty, the value of the premium price, switching to another brand depending on the region and future activity of competitors, as well as sales taking into account changes in market conditions and seasonality.

2. Method of future income. The calculation of future income is based on financial indicators of recent years. From the amount received deduct basic expenses, including taxes and interest on loans. Then calculate the part of income that brings intangible assets of the enterprise. It is used to calculate the profit from the use of intellectual value - this is called the profit that the brand will bring in the future.

3. Method of excessive income. Using this method allows you to estimate how much revenue will increase when selling goods of a particular brand. When using this method it is necessary to study the dynamics of income of the enterprise for the last 10 years and to calculate the future dynamics of income according to marketing formulas.

4. Method of total costs for brand development. According to this method, manufacturers sum up all the costs of the enterprise to create and develop a brand for the entire period of its existence. This method does not make it possible to analyze the effectiveness of marketing costs and leaves the possibility of writing off the errors of marketing strategies and miscalculations of advertising campaigns.

5. Discount rate method. The method allows to estimate the final cost of effective investments in brand development and its promotion on the market. To do this, a special method is used to measure the difference between the risk of investing in the brand and the risk of transactions with government securities.

6. Market method. It is defined as one of the simplest methods of brand evaluation. It provides a definition of its price when buying a brand or company, the company as a whole.

7. Method of income. It is most often used to confirm the amount obtained by other methods. It determines the responsibility of tangible and intagible assets for the company's income.

Auxiliary methods [3]:

1. Method of calculating the cost of brand replacement. The method requires a comparison of the appraisal brand with an abstract product of the same category, purpose and quality. This method determines the cost of bringing an unknown brand to the same level as the brand under study.

2. Method of expert evaluations of brands. Authoritative and independent experts assess the main parameters: market share and rating, brand stability, product category stability, internationality, market trends, communication support and product promotion programs, legal protection. Then calculate the average scores, which are multiplied by a factor proportional to the degree of importance of the estimated parameter. The downside of this method of assessment is the subjectivity and possible dependence of experts on the brand owner.

3. Method of increasing cash inflows. Use involves: measuring the financial income from the sale of branded goods, from which are calculated the costs of development, registration and promotion of the brand, including communication costs. Then these amounts are compared with the receipt of cash from the sale of ordinary goods of the same category, similar in purpose and quality. This method is widely used because it is easy to use in practice, organizing trial sales of non-branded goods in major market segments. The complexity of this method is that the cycle from involvement in consumption to regular consumption of goods and the formation of the relationship between brand and consumer - takes several months. Therefore, the volume of trial purchases that are not supported by marketing communications is always below the level of stable consumption of ordinary goods.

4. Method of deductions for the use of the trademark. The sum of all deductions, multiplied by the life cycle of the product, and is the value of the brand. The main obstacle to this method is the difficulty of allocating only the "brand fee" from the total costs, as they include the cost of marketing a corporate brand.

5. Method of income on shares. This technique uses the market price of the company's shares, the dynamics of stock prices on the stock exchange and their corresponding ratio (Share price / Earnings per share). Most financial analysts consider this ratio to be a fairly accurate indicator of brand value.

None of these methods should be used alone. Only the cost calculated by several methods can give the correct result. The parallel use of these methods will help in obtaining a more accurate result.

References

1. All-Ukrainian advertising coalition [Electronic resource]: [official Web site]. - Electron. Dani. - [b. M.], 2017. - Access mode:http://www.adcoalition.org.ua 

2. Media Business [Electronic resource]: site. - Electron. Data. - [b. M.], 2017. - Access mode: http://www.mediabusiness.com.ua/content/view/44638/lang,ru

3. Bearden W.O. Marketing, principles and perspectives : / W. O. Bearden, T. N. Ingram, R. W. LaForge. – 3rd ed. – New York : McGraw-Hill Higher Education, 2011.



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