BUSINESS STANDARDS
is the quarterly magazine of BSI Group, highlighting the vital role that standards play in today's business environment. Regular features include interviews with leading business figures, as well as news on the latest developments in management systems and standards.
Big thinking in Brand value
30 Nov 2009
Topics: Brands, ISO 10668
Developed by ISO with input from BSI in the UK, ISO/DIS 10668 specifies the requirements for procedures and methods of monetary brand value measurement. Aimed at both brand consultants, and finance and marketing professionals, publication of the final standard is expected in Summer 2010.
The standard specifies the requirements for three approaches to brand valuation:
Income Approach: measures the value of the brand by reference to the present value of its economic benefits.
Market Approach: measures the value of the brand based on what other purchasers in the market have paid for similar assets.
Cost Approach: measures the value of the brand based on the cost invested in it. Valuation inputs include assessments of market data, brand strength (usually based on factors such as awareness and loyalty), brand relevance in its specific market and legal aspects, such as rights. "Brands are the largest single source of intangible assets yet, historically, brand valuation has been viewed as opaque, subjective and unreliable - a bit of a black art," says David Haigh, CEO of valuation consultancy, Brand Finance. "ISO/DIS 10668 recognizes this and attempts to create a consensus on how brands should be valued. The draft standard represents global best practice in brand valuation and marks a huge step forward in a vital area of management concern."
For more information, please visit www.bsigroup.com/nov09brand
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