The International Brand Valuation Manual: A Complete Overview and Analysis of Brand Valuation Techniques, Methodologies and Applications

ISBN-13: 9780470740316 / Angielski / Twarda / 2009 / 448 str.

Gabriella Salinas

Opis

The International Brand Valuation Manual is a detailed and extensive review of the main brand valuation models. The book reveals the state of the art in the field of brand valuation and coherently relates major trends in the theory and practice of brand valuation. This "one-stop" source is for valuation professionals as well as financial and marketing specialists who need to have an understanding of the principal valuation methods. Salinas also analyses the respective efficacy, advantages, disadvantages, and prospects for the future for each method. The book: - Provides a thorough overview of all the tools available for the brand valuation practitioner. - Offers an informed view on which methodologies are most suitable for different types of applications, and explains why. - Acts as an all-in-one source of reference for specialists who advise clients on which methodology to employ, or who are considering adopting one themselves. - Features case studies and examples from Guinness, PwC, Rolls-Royce, Santander, Shell, Telefonica, Unilever, BMW, Hanson Trust, Cadbury-Schweppes, Kellogg, Coco-Cola, Mercedes, Rolex, among others. Gabriella Salinas is the Global Brand Manager at Deloitte Touche Tohmatsu, Madrid, Spain.

Spis treści

LIST OF FIGURES AND TABLES.

FOREWORD.

ACKNOWLEDGEMENTS.

INTRODUCTION.

1 THE CONCEPT AND RELEVANCE OF BRAND.

1.1 The concept of brand.

1.2 Brand value.

1.3 The growing importance of the economic value of brand.

1.4 Conclusions.

2 THE ORIGIN AND EVOLUTION OF VALUATION METHODS.

2.1 The Origin and evolution of valuation methods.

2.2 Conclusions.

3 BRAND VALUATION METHOD AND PROCESS.

3.1 Brand valuation process.

3.2 Conclusions.

4 GENERAL APPROACHES TO BRAND VALUATION.

4.1 Cost approach.

4.2 Market approach.

4.3 Income approach.

5 BRAND VALUATION METHODS AND PROVIDERS.

5.1 AbsoluteBrand.

5.2 AUS Consultants.

5.3 BBDO.

5.4 Brandient.

5.5 BrandEconomics.

5.6 Brand Finance.

5.7 BrandMetrics.

5.8 Brand Rating.

5.9 Consor.

5.10 Damodaran s valuation model.

5.11 Financial World.

5.12 FutureBrand.

5.13 GfK–PwC–Sattler: Advanced Brand Valuation model.

5.14 Herp s model.

5.15 Hirose model.

5.16 Houlihan Advisors.

5.17 Intangible Business.

5.18 Interbrand.

5.19 Kern s x–times model.

5.20 Lev s Intangibles Scoreboard.

5.21 Millward Brown Optimor.

5.22 Motameni and Shahrokhi s Global Brand Equity Valuation model.

5.23 Prophet.

5.24 Repenn s brand valuation model (System Repenn).

5.25 Sander s Hedonic brand valuation method.

5.26 Sattler s model.

5.27 Semion.

5.28 Simon and Sullivan s stock price movements model.

5.29 The Nielsen Company: Brand Balance Sheet and Brand Performance.

5.30 Trout & Partners.

5.31 Villafañe & Associates Competitive Equilibrium model.

5.32 Other brand valuation providers and models.

5.33 Conclusions.

6 A TAXONOMY OF BRAND VALUATION METHODS.

6.1 By use of financial or non–financial indicators.

6.2 By application or possible objectives.

6.3 Classification proposed by BBDO.

6.4 Classifications based on mixed criteria.

6.5 By intended universality of the calculated value.

6.6 By its nature or origin (academic vs. commercial).

6.7 By approach employed (cost, market and income).

6.8 By method of determining the proportion of income or revenues attributable to brand.

6.9 By method of "representing brand risk".

6.10 By method of "representing the brand s growth and useful life".

7 THE CURRENT SITUATION.

7.1 General trends in brand valuation.

7.2 Common errors and misconceptions in brand and intangible asset valuation.

7.3 Conclusions.

8 IS CORPORATE BRAND VALUATION POSSIBLE?

8.1 What is "corporate brand," and is it the same as "corporate reputation?"

8.2 Why value corporate brands?

8.3 Methodological options proposed for corporate brand valuation.

8.4 Models based on the concept that "corporate brand or reputation" adds value to product brands.

8.5 Model based on the company value s sensitivity to variations in "corporate brand or reputation" value.

8.6 CoreBrand s model for measuring the percentage of market capitalization attributable to corporate brand.

8.7 Conclusions.

9 THE FUTURE OF BRAND VALUATION.

9.1 The prospect of methodological consensus: Standardization vs. affinity of applications and methods.

9.2 Future trends in the supply and demand of brand valuation services.

9.3 Accounting users: financial officers discomfort.

9.4 Marketing specialists: using valuation prudently and founding a new language compatible with finance.

9.5 Regulators: behind the scenes, but with great confidence.

REFERENCES.

INDEX.

O autorze

Gabriela Salinas has a very uncommon professional profile, with deep understanding of strategic, accounting, financial and marketing issues, that has earned her a reputation as one of the world leading experts in the field of brand valuation.

As Global Brand Manager of Deloitte Touche Tohmatsu, she advises internal and external clients on brand valuation and evaluation related issues. She has a broad international experience, having worked in New York, Buenos Aires, Singapore, London and Madrid for clients such as Bank of America, Repsol YPF, Telefónica, Terra Networks, Bausch & Lomb, Johnson & Johnson, Roca, GM and Great Eastern Life and other international companies on projects involving brand evaluation, brand architecture, brand positioning and brand valuation projects.

Early in her career she specialized in corporate valuation, receiving a Master in Corporate Finance and lecturing on Valuation of Financial Assets . Later on, she focused on the valuation of intangible assets, developing a sound professional career in the field. As she enjoys the academic work, she led several research projects on the field and is now teaching Brand Valuation at the Institute of Intangible Assets in Spain.

She is now a member of the international initiative for the standardization of brand valuation methodologies, ISO/PC 231 International Committee and of the Brand and Valuation Committees of the Institute of Analysis of Intangible Assets.

Blurb

This work of reference represents a remarkably complete, detailed and extensive review of the main brand valuation models, accurately depicting the state of the art in the field of brand valuation and coherently relating major trends in the theory and practice thereof. It serves as a one–stop source for valuation professionals as well as financial and marketing specialists, acquainting them with the principal valuation methods developed and practiced by various providers, and providing careful considerations of their respective efficacy, advantages, disadvantages, and prospects for the future.

"Brand valuation is one of the most difficult and challenging topics in branding. Gabriela Salinas should be congratulated for providing a thoroughly comprehensive and up–to–date treatment of the subject that will be extremely helpful to both practitioners and academics alike."
Kevin Lane Keller, E.B. Osborn Professor of Marketing, Tuck School of Business at Dartmouth, author of Strategic Brand Management

"It was high time for someone to provide a general, clear and complete vision of the increasing number of brand valuation methodologies. I am delighted to have such a precise and detailed review written by Gabriela Salinas"
Tim Ambler, Senior Fellow, Marketing Department, London Business School

"This book of Gabriela Salinas is, undoubtedly, the best book on brand valuation. It contains a remarkable review of the most popular methods and pervasive theories on the subject. With extreme clarity, it reveals the limitations of different approaches and suggests improvements for all of them"
Pablo Fernández, Professor of Finance, IESE Business School

Gabriela Salinas has neatly compiled all pertinent information on brand metrics and valuation, and presented us with a comprehensive synopsis of the critical issues in the field of brand valuation today. Managers and specialists alike will find her work intelligent, methodical, and easy to understand and use.
Don Schultz, Professor of Integrated Marketing Communication, Medill School of Journalism, Northwestern University

This work is an impressive mix of marketing and finance, and one of the most comprehensive reviews that I have seen on the topic of brand valuation
Aswath Damodaran, Professor of Finance and David Margolis Teaching Fellow at the Stern School of Business at New York University

The International Brand Valuation Manual by Gabriela Salinas is a detailed worldwide overview of valuation methodologies. She sees considerable growth but little consistency. She finds the royalty Savings method the one that presents the fewest weaknesses relative to others, even though said weaknesses are not small nor minor. She says that one of the greatest sources of conflict is in choosing discount rates. She concludes that the vast majority of valuation specialists views the choice of a discount rate as more of an art than a science, and therefore uses various mechanisms to reflect the brand–specific risk in the discount rate. The book is a worthwhile read for anyone interested in brand valuation.
Shannon Pratt, CEO, Shannon Pratt Valuations, Inc.