Evaluating a company’s brand: distinguishing a brand from a trademark<\/strong><\/h2>\n\nA brand is a product that satisfies consumer expectations, as well as a set of emotions and impressions, the atmosphere around the product that create an unbreakable emotional bond between consumers and the brand.<\/p>\n\n![\"Estimating](\"https:\/\/koloro.ua\/files\/images\/content\/\/59f301f2b0807.jpg\" "\\"image\\"\/")
<\/figure>\n\nA brand has 5 main differences from a trademark:<\/h2>\n\n\n- The power of the brand<\/strong>. A well-known product has a much better chance of gaining more market share than a similar product promoted by an unknown brand name.<\/li>\n\n\n\n
- High demand for branded products<\/strong> and consequently high profitability of the manufacturing company.<\/li>\n\n\n\n
- A branded product in its segment can be positioned in a higher price range<\/strong> than the same product promoted by an unknown brand.<\/li>\n\n\n\n
- High level of customer loyalty<\/strong> – up to 50% of consumers are absolutely loyal to the brand, who are ready to postpone or refuse a purchase rather than buy a product of another brand.<\/li>\n\n\n\n
- A brand adds additional real value<\/strong> to a company’s products, enhances the company’s assets, and generates tangible profits.<\/li>\n<\/ol>\n\n
The costs of developing and registering a trademark are hundreds and thousands of times lower than the subsequent profit from that product.<\/p>\n\n
GET ADVICE<\/a><\/p>\n\nA brand value audit is done in two ways:<\/h2>\n\n\n- Brand Value Assessment<\/strong> – to determine the effectiveness of a company in building and developing a brand;<\/li>\n\n\n\n
- Brand Design Assessment<\/strong> – to identify whether the current product design<\/a> is in line with market trends and the needs of the target audience. <\/li>\n<\/ul>\n\n
![\"Brand](\"https:\/\/koloro.ua\/files\/images\/content\/\/59f233e802e88.jpg\" "\\"image\\"\/")
<\/figure>\n\nBrand valuation: methods of brand valuation<\/strong><\/h2>\n\nWith all the variety of methods and techniques for assessing brand value, they can be summarized into three main methods<\/strong>:<\/p>\n\n1. <\/em>Total cost method<\/strong>. This method of evaluation involves the calculation of all costs for the creation and promotion of the product – costs for marketing research, development of brand design, its packaging and labeling, development of corporate identity of<\/a> the company, registration of<\/a> the trademark, advertising budgets. The calculated costs are further compared with the actual profit from the sales of branded goods on the market.\n- the value of tangible assets;<\/li>\n\n\n\n
- the value of financial assets;<\/li>\n\n\n\n
- value of intangible assets.<\/li>\n<\/ul>\n\n
The remaining value after all subtractions is the brand value. This universal method has become widespread among both Western companies and domestic firms.![\"Estimating](\"https:\/\/rusbiz-o.ru\/brend.jpeg\" "\\"Estimating")
<\/figure>\n\nThere is often a need to evaluate subjective brand parameters:<\/strong><\/h3>\n\n\n- Brand power<\/strong> is the ability of a brand<\/a> to dominate other products in its segment. As a rule, a scale of values is used to estimate this parameter, the obtained data are necessary, for example, in the event that a significant increase in the price of goods is planned.<\/li>\n\n\n\n
- Harmony<\/strong> – matching the character and image of the brand to the needs and expectations of the audience. Harmony assessment should be done regularly, as even the slightest inconsistency – leads to brand unmanageability and reduced company performance.<\/li>\n\n\n\n
- The level of loyalty<\/strong> is a psychological factor that determines the consumer’s perception of the product and the level of commitment to the brand. This factor also determines the frequency of repeat purchases and the consumer’s sensitivity to the price of the product.<\/li>\n\n\n\n
- Degree of familiarity<\/strong> – the indicator is defined as the percentage of the target audience that can recall the brand with or without prompting. This parameter clearly shows the effectiveness of marketing activities. <\/li>\n<\/ol>\n\n
![\"Marketing](\"https:\/\/koloro.ua\/files\/images\/content\/\/59f23418555bb.jpg\" "\\"image\\"\/")
<\/figure>\n\nBrand design evaluation<\/h2>\n\n
Building a brand is an extremely responsible and time-consuming process. The development process should utilize an integrated approach<\/strong>, i.e. not to forget about any of the components of brand design: logo<\/a>, slogan, brand legend, corporate identity, naming, brandbook, etc.<\/p>\n\nBefore embarking on brand building, every company gathers information, studies the target audience<\/strong>, researches the market, and analyzes competitors. And only then, based on the data collected, develops a sound positioning concept<\/strong> and all brand elements. But do not forget that over time, consumer preferences are changing, competitors are restyling brands and you can not lag behind the market trends, so as not to lose your position. So after a certain time, every company faces the question of redesign and repositioning<\/strong>.<\/p>\n\n
<\/figure>\n\nA brand has 5 main differences from a trademark:<\/h2>\n\n\n- The power of the brand<\/strong>. A well-known product has a much better chance of gaining more market share than a similar product promoted by an unknown brand name.<\/li>\n\n\n\n
- High demand for branded products<\/strong> and consequently high profitability of the manufacturing company.<\/li>\n\n\n\n
- A branded product in its segment can be positioned in a higher price range<\/strong> than the same product promoted by an unknown brand.<\/li>\n\n\n\n
- High level of customer loyalty<\/strong> – up to 50% of consumers are absolutely loyal to the brand, who are ready to postpone or refuse a purchase rather than buy a product of another brand.<\/li>\n\n\n\n
- A brand adds additional real value<\/strong> to a company’s products, enhances the company’s assets, and generates tangible profits.<\/li>\n<\/ol>\n\n
The costs of developing and registering a trademark are hundreds and thousands of times lower than the subsequent profit from that product.<\/p>\n\n
GET ADVICE<\/a><\/p>\n\nA brand value audit is done in two ways:<\/h2>\n\n\n- Brand Value Assessment<\/strong> – to determine the effectiveness of a company in building and developing a brand;<\/li>\n\n\n\n
- Brand Design Assessment<\/strong> – to identify whether the current product design<\/a> is in line with market trends and the needs of the target audience. <\/li>\n<\/ul>\n\n
<\/figure>\n\nBrand valuation: methods of brand valuation<\/strong><\/h2>\n\nWith all the variety of methods and techniques for assessing brand value, they can be summarized into three main methods<\/strong>:<\/p>\n\n1. <\/em>Total cost method<\/strong>. This method of evaluation involves the calculation of all costs for the creation and promotion of the product – costs for marketing research, development of brand design, its packaging and labeling, development of corporate identity of<\/a> the company, registration of<\/a> the trademark, advertising budgets. The calculated costs are further compared with the actual profit from the sales of branded goods on the market.\n- the value of tangible assets;<\/li>\n\n\n\n
- the value of financial assets;<\/li>\n\n\n\n
- value of intangible assets.<\/li>\n<\/ul>\n\n
The remaining value after all subtractions is the brand value. This universal method has become widespread among both Western companies and domestic firms.<\/figure>\n\nThere is often a need to evaluate subjective brand parameters:<\/strong><\/h3>\n\n\n- Brand power<\/strong> is the ability of a brand<\/a> to dominate other products in its segment. As a rule, a scale of values is used to estimate this parameter, the obtained data are necessary, for example, in the event that a significant increase in the price of goods is planned.<\/li>\n\n\n\n
- Harmony<\/strong> – matching the character and image of the brand to the needs and expectations of the audience. Harmony assessment should be done regularly, as even the slightest inconsistency – leads to brand unmanageability and reduced company performance.<\/li>\n\n\n\n
- The level of loyalty<\/strong> is a psychological factor that determines the consumer’s perception of the product and the level of commitment to the brand. This factor also determines the frequency of repeat purchases and the consumer’s sensitivity to the price of the product.<\/li>\n\n\n\n
- Degree of familiarity<\/strong> – the indicator is defined as the percentage of the target audience that can recall the brand with or without prompting. This parameter clearly shows the effectiveness of marketing activities. <\/li>\n<\/ol>\n\n
<\/figure>\n\nBrand design evaluation<\/h2>\n\n
Building a brand is an extremely responsible and time-consuming process. The development process should utilize an integrated approach<\/strong>, i.e. not to forget about any of the components of brand design: logo<\/a>, slogan, brand legend, corporate identity, naming, brandbook, etc.<\/p>\n\nBefore embarking on brand building, every company gathers information, studies the target audience<\/strong>, researches the market, and analyzes competitors. And only then, based on the data collected, develops a sound positioning concept<\/strong> and all brand elements. But do not forget that over time, consumer preferences are changing, competitors are restyling brands and you can not lag behind the market trends, so as not to lose your position. So after a certain time, every company faces the question of redesign and repositioning<\/strong>.<\/p>\n\n
The costs of developing and registering a trademark are hundreds and thousands of times lower than the subsequent profit from that product.<\/p>\n\n
GET ADVICE<\/a><\/p>\n\n With all the variety of methods and techniques for assessing brand value, they can be summarized into three main methods<\/strong>:<\/p>\n\n 1. <\/em>Total cost method<\/strong>. This method of evaluation involves the calculation of all costs for the creation and promotion of the product – costs for marketing research, development of brand design, its packaging and labeling, development of corporate identity of<\/a> the company, registration of<\/a> the trademark, advertising budgets. The calculated costs are further compared with the actual profit from the sales of branded goods on the market. The remaining value after all subtractions is the brand value. This universal method has become widespread among both Western companies and domestic firms. Building a brand is an extremely responsible and time-consuming process. The development process should utilize an integrated approach<\/strong>, i.e. not to forget about any of the components of brand design: logo<\/a>, slogan, brand legend, corporate identity, naming, brandbook, etc.<\/p>\n\n Before embarking on brand building, every company gathers information, studies the target audience<\/strong>, researches the market, and analyzes competitors. And only then, based on the data collected, develops a sound positioning concept<\/strong> and all brand elements. But do not forget that over time, consumer preferences are changing, competitors are restyling brands and you can not lag behind the market trends, so as not to lose your position. So after a certain time, every company faces the question of redesign and repositioning<\/strong>.<\/p>\n\nA brand value audit is done in two ways:<\/h2>\n\n
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<\/figure>\n\nBrand valuation: methods of brand valuation<\/strong><\/h2>\n\n
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<\/figure>\n\nThere is often a need to evaluate subjective brand parameters:<\/strong><\/h3>\n\n
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<\/figure>\n\nBrand design evaluation<\/h2>\n\n
![\"Evaluation](\"https:\/\/content.onliner.by\/news\/1400x5616\/9c4a87d6372ebaeb44fedebf23751637.jpeg\" "\\"Evaluation")
<\/figure>\n\n![\"Evaluating](\"http:\/\/www.vipsys.ru\/upload\/editor\/photo\/SW_Esko_4\/visualizer.jpg?r=1296819302\" "\\"Evaluating")
<\/figure>\n\n