Press release - 20 January 2011
Putting an accurate value on a brand is increasingly important for organizations wishing to drive earnings, or for those involved in acquisition or seeking investment. It’s equally important when performing brand portfolio reviews, and for planning growth strategies such as licensing or brand extensions.
Now, the world’s first international standard on brand valuation is set to transform how brand owners, brand consultants and legal teams agree valuations of intangible business assets.
BS ISO 10668 Monetary brand valuation is designed to be used by all corporate and brand owners, practitioners in brand valuation and strategy, investors in brands together with international commentators. It provides a consistent and reliable approach to the core aspects of brand valuation, including financial, behavioural and legal aspects.
Jane Piper from Jane Piper Brand Strategy and British Standards Institution UK committee member involved with the development of the standard commented:
"The standard provides excellent guidance, especially on the importance of identifying how and where the behavioural aspects of a brand contribute towards brand value. This includes identifying how a brand actually drives value for a business, the brand strength and the impact of the brand on driving overall demand.
"Managing a brand to drive financial value for a business is often not understood or implemented effectively", adds Jane.
The standard will enable all organizations performing a brand valuation to attract and assure customers, demonstrate market leadership, create competitive advantage and develop and maintain best practice. In all it is a mark of quality.
"Standards perform a crucial role in providing confidence that claims made are trustworthy. Putting an accurate and fair value on a brand could be vital for realizing brand equity" comments Dan Palmer, Head of Market Development at BSI.