瑞典最具价值和最强大品牌的年度报告

Requirements for Monetary Brand Valuation ISO 10668BRAND VALUATION Contents 03Introduction from the Australian Marketing InstitutePage 04PART 1 Overview of ISO 10668: Brand Valuation05Step1:DefinitionoftheBrandthathasbeenValued05Step 2: Purpose of the Valuation Copies of the Standard may be purchased from Standards Australia ISO 10668BRAND VALUATION Introduction from the Australian Marketing Institute Brands have long been recognised inside the marketing profession as importantintangible assets. Brands can confer considerable advantages, such as buildingcustomer loyalty and enabling a price premium for the branded product. The Australian Marketing Institute’s involvement in the promotion of the roleand value of brands is central to its overall aim of the promotion of marketing.Thus, when the ISO established a brand valuation Working Party, the Institute The Working Party met initially in March 2007, and convened on a further sixoccasions to advance and finalise the Standard. The foundation document on The Australian Marketing Institute looks to Australian businesses to adopt theStandard, both as a means of validating their own brand valuation activities and ISO 10668BRAND VALUATION PART 1Overview of ISO 10668: Brand Valuation The introduction to ISO 10668 states that: “Intangible assets are recognisedas highly valued properties. Arguably the most valuable but least understoodintangible assets are brands.” The purpose of the Standard is to provide a Although not dealt with in this particular sequence, the Standard provides ISO 10668BRAND VALUATION DefinitionoftheBrandthathasbeenValued The term ‘brand’ is defined in the Standard as a marketing-related intangibleasset that may include names, terms, and logos that are intended to identify A more specific description is required in a valuation report; this must clearlyidentify and describe the specific legal rights that are the subject of thevaluation. The need for clarity is heightened by different uses of the term Purpose of the Valuation Brand valuations can be carried out for a wide range of purposes includingstrategic planning, financial reporting, dispute resolution, and pre-acquisitiondue diligence. It is important that the valuer declares the purpose of the Premise of Value The Standard defines the premise of value as “the assumption regardingthe most likely set of circumstances that can be applicable to the subjectvaluation.” Value is in the eye of the beholder, so it is essential to determine ISO 10668BRAND VALUATION Selection of the valuation approach and method The Standard gives the valuer the opportunity to select from a range ofvaluation approaches and methods. There are three valuation approaches:the Income Approach, Market Approach, and Cost Approach. Within each Income Approach The income approach values a brand as the present value of the futureearnings that it is expected to generate over its remaining useful economiclife. This is a commonly used approach to value businesses and other assets. The Standard lists the following income based methods of determining the ·Price and volume premium methods:Estimate the value of a brand byreference to the price premium and/ or volume premium that it generates.In situations where a brand yields both a profit and volume premium, both ·Income-split method:Values the brand as the present value of the portionof economic profit attributable to the brand. Behavioural research is used ·Multi-period excess earnings method:Values the brand as the presentvalue of the future residual cash flow after deducting returns for all other Incremental cash flow method:Identifies the cash flow generated by abrand in a business through comparison with a comparable business which Royalty relief method:Measures the value of the brand as the present valueof notional future royalty payments, assuming that the brand is not owned ISO 10668BRAND VALUATION Market Approach The market, or sales comparison approach, measures value in comparisonwith transactions, for similar brands. This approach requires a detailedevaluation of the comparability of the two brands, considering factors such as Cost Approach This approach measures the value of a brand based on the cost invested inbuilding the brand, or its replacement or reproduction cost. It is based on the ValuationassumptionsandanalysisAssumptions and Analysis The Standard’s general requirements specify that a valuation must: ·use valid inputs and sufficient data; ·take account of financial, behavioural, and legal parameters; ·be based on assumptions and conclusions that are objective and reliable. Additionally, a brand valuation requires a range of specific inputs and ISO 10668BRAND VALUATION Marketandfinancialdata In order to gauge the current performance of the subject brand, the appraisalshould carry out an analytical review of the current and forecast size of themarket. Although not explicitly stated in the Standard, it is often nece