品牌价值评估方法研究

上海交通大学硕士学位论文品牌价值评估方法研究姓名：李莉申请学位级别：硕士专业：企业管理指导教师：王方华2003.1.1DCFSDCFSTUDYONMETHODSOFBRANDEVALUATIONABSTRACTTheresearchofbrandstartedtogrowinimportanceaboutacenturyago.Todaystudyonbrandevaluationhasbeenofincreasinginteresttospecialistsandresearchesinthisfieldhavebeencarriedoutsincebrandshavebeeninvolvedinbusinessactivitiesin1980’s.Uptonowcertainachievementshaveobtained.Therehaveexistedmanyapproachestomeasurebrandvalue,someofwhichareunderwayandsomeofwhichhavealreadydeveloped.Thepaperisaimedtoconstitutecertainmethodinwhichthetwotraditionalbases,includingmarketperformanceofbrandandbrandloyalty,couldbegivenproperconsiderationafterstudyoncurrentmethods.Thepaperconsistsof7chapters.Chapter1introducesthebackground,methodsused,creativitiesandlimitationsofthestudy.Chapter2reviewsrelatedconceptsandmethodologyconcerningbrandevaluationanditsdevelopment.Chapter3to5arefocusedonfourrelativelywell-developedmethodsofbrandevaluation.InChapter3MethodologyofInterbrandandBrandProfitDCFareexplained.ThechapterfirstlyillustratesthekeyissuesinMethodologyofInterbrandincludingNon-LifeCycleofBrandValue,ScurveandMultipleandapplicationanalysisandsuggestions.ThenBrandProfitDCFhasbeenintroducedindetails.Chapter4introducesthemethodofBeijingFamous-BrandEvaluationCo.,Ltd.Thewriteranalyzestargets,criteriaandproceduresindetailwithcasestudiesandsincererecommendations.Chapter5focusesonbrandloyalty.Firstly,therelationshipbetweenbrandvalueandconsumers’behaviorisanalyzed.Thenthecorrelationbetweenbrandloyaltyandbrandvalueisexplainedwithconsiderationof“MatrixofBrandLoyalty”and“CorrelationAmongBrandLoyalty,ConsumptionRateandMarketPerformanceofBrandedProducts”.ThenMethodofLoyaltyFactoranditsapplicationhasbeendiscussedthoroughly.WithfurtheranalysisoftraditionalbasesChapter6putforwardtheabove-mentionednewviewpointsconcerningbrandevaluationandexplorestheirfeasibilities.Thewriteralsoshowshowtoquantifynewparametersoccurredandprovidesarelatedcasestudyandanalysisoftheirlimitations.Chapter7summarizesthesignificanceofstudyonbrandevaluationandobstaclesinthefield.KEYWORDS:BrandAsset,BrandEvaluation,MarketPerformance,Consumers’BrandLoyalty120031102120808012,00015,0009045,000ANP•11/10801988500KohlbergKravisRoberts260RJRNobisco58200OreoCookiesPlantersNutsWinstonCigarettesPhilipMorris129KraftKraft4GrandMetropolitan55PillsburyNestle45York2Borden4.812331241980123141980123152312=2-1=*2-236=∑=+ni1ir)(1Ri2-3=A/r2-4=i1nn1iir)(11r)(RRr)(1R+×+++=∑ni2-52-3nRiiir2-42-5nn+177820%820%9Starbuck9Starbuck101990SimonSullivanDCF4611Interbrand’sGroup121.2.3.4.5.121.2.3.4.5.13DCFDCF1=1/=*3-1220%1410VISAMastercard31)2)Multiplebasedonthebrand’sstrength3)4)3-111153-13-145%55%282703022•3Chart3-1SampleofProfitConstitutesofBrandedProduct16=+++3-2=*3-3414116060%1992199460%199532%=*3-42175%10%=*3-53=3-64=()123123++×+×+×3-71995=()1212+×+×3-83-73-85=*3-9118113-2•1Brand’sLeadershipChart3-2SevenFactorsofBrandStrength1920004%6%3%2Stability3PPervasivenessPreferencePricetovalue3Market4Internationality3-13-22001%3.2130%53.42%5.2225%44.53%1322%39.162%3217%30.2610%7.066%10.6810%2001178205105.7%9.5%5.5%6.1%4.2%10.9%2.4%7.6%(5.7)%1.9%1.9%6.0%5106.6%9.4%9.4%9.2%14.1%8.2%4.9%10.4%1.0%4.9%6.5%8.8%200120015Trend6Support7Protectionlogo3-33-421A128BCABC251891915117101078625172510676108775543100724456•/222213-3//Chart3-3Non-LifeCycleTheoryofBrandValue23P/E2S20S3-4S3P/EP/EP/E20.010.00.0255075100Chart3-4SCurveofInterbrand243-11989JIX15422%JIX33.88=154*22%60%15492.4=154*60%5%92.44.6=92.4*5%JIX29.28=33.884.643%16.69=29.28*(143%)JIX19JIX317.11=16.69*19JIX86.42%=16.69/33.88*1-43%2500252002200126DCFDCF8055Pillsbury50%77DCF27DCFDCF3-5Chart3-5FiveForcesonMarketDevelopment2819954-1(M)(S)(D)29140%3%22580%340%70%4565002001234530P(M)(S)(D)P=M+S+D4-13143314-242.7431.128.3626.86%(S)3143314-242.7431.128.3626.86%(S)3143314-242.7431.128.3626.86%(S)321526.86%/157.8=8.3631.12*26.86%/1540%(M)20%(D)87.61217.815%6.63=7.8*115%121579.5699.4587.6124-3199519991999033%30%3%3310.2%2%7.47%10%10.14=7.8*1+30%32.23=6.18+6.74+6.74+6.43+6.1461.4=6.14/10%200093.6387.61687.611995199619971998199920002001%302010550010.14*12.1713.3914.0614.7614.7614.76~6.798.158.979.429.899.899.89~10%6.186.746.746.436.146.1432.23*61.4*93.63*341199416.22199820005.49356283%47%TCL199490.312000413.34358%60%199416.1719993.7920003.16199620%199910%1999200030%50%501020002140022001363200122001282001200110011005001002001200110037ConsumerbehaviorPeterD.Bennett,DictionaryofMarketingTermsChicago:AmericanMarketingAssociation,19891)2)3)3815-11)/Chart5-1ModelofConsumers’BrandDecision3815-11)/Chart5-1ModelofConsumers’BrandDecision392)3)21234405-1JPaulPeter5-2Chart5-2MatrixofBrandLoyalty41123415-341123415-3425-325-4Chart5-3CorrelationAmongBrandLoyalty,ConsumptionRateAndBrandedProducts’MarketPerformance435-4Marlboro3P&GP&GKoehnBrandNewChart5-4ProductCategoriesVS.BrandLoyalty44=****/5-112//3545456/AA2.0%A1.19%45456/AA2.0%A1.19%45456/AA2.0%A1.19%465-1=+++=73%*1.19%+23.5%*65%*1.19%+98.81%*64%*4.13/5*30%*28%+48%*1.19%*52%*3.9/5*24.5%*149%+98.81%*149%*86%*1.5%*3.29/5*19.8%=3.4%5A12.00%100,000,00