Markenbewertung als Instrument zur wertorientierten Unternehmensführung

Value based management is of great importance in many fields of brand management like controlling, budget allocation, transfer and documentation of brands. This kind of value based management demands the application of brand valuation methods, which are discussed in this article. We define brand value (i.e. brand equity) as the net present value of future incremental cash flows which are related to a brand. The estimation of such kind of brand value can be done in three steps. First, brand specific payments must be separated through isolation of brand-induced from non-brand induced payments. Second, these brand specific payments must be forecast for usually 5, 10 or even more years. Third, the potential of possible brand extensions of the brand to be evaluated must be estimated. After showing several purposes of brand valuation we give a literature review with respect of each of the three steps and show directions for future research.