Thesis (MBA)--Stellenbosch University, 2005. / ENGLISH ABSTRACT: Brands are getting more and more valuable. In this age of cross-border mergers and
acquisitions. the value of brands is a key detenninant of a company value and stock market
capitalization. For the consumer a brand also plays a significant role. It is seen as a sign of
quality, helping them make their purchasing decisions. Yet brand loyalty and established
customer relationships can no longer be taken for granted or assumed to last forever in an
environment of increased competition. Brand loyalty is vitally dependent on how the
relationship between the brand and the consumer is nurtured and specifically developed: A
strong brand brings with it the opportunity to raise the proftle of a product and the company
that sells it, setting them apart from rivals in the marketplace. A strong brand even allows
companies to command a price premium for their products.
In this way the value of a brand or brand equity becomes a company's most important asset.
But the questions are: How much is the brand actually worth? And how can a brand's value
be boosted? The term brand equity originated as a business-financial concept, and consists in
"[the] net present value of all future net surpluses over his cash input that the owner of a
brand can earn". Such financially oriented measurement of brand equity is a suitable approach
for expressing it as a monetary value as required for purposes of financial statements,
licensing agreements or acquisition decisions. There is a wide variety of brand valuation
models available to detennine a monetary value on brand equity, but in some cases these
models are controversial. and the value of their resu1ts as an objective statement may be
limited.
The consumer oriented perspective on brand equity sets itself apart from the financial
approach by focusing on the judgments made by consumers, with a view to improving the
effectiveness and efficiency of marketing measures and also brand management on a longterm
basis. This behavioural approach endeavours to reach a qualitative explanation of the
factors
driving brand equity and to determine psychological constructs of brand strength by
means of operational measurement.
The underlying study project illustrates some of the most common brand valuation models,
shows their respective advantages and disadvantages and explores the different approaches to
brand equity. Methods to increase brand equity by putting it in the focus ofa Value Based
Brand Management explain its drivers and individual brand processes. This approach to a
successful brand management is fmally compared with the current brand management process
of the FMCG brand NNEA. Recommendations on how this international brand could be
managed more efficiently with respect to brand equity conclude this study project. / AFRIKAANSE OPSOMMING: Handelsmerke raak al hoe meer waardevol. In hierdie eeu van oorgrens-samesmeltings en
oornames, is die waarde van 'n handelsmerk 'n sleutelfaktor om 'n maatskappy se waarde en
aandelebeurs-kapitalisering te bepaal. Handelsmerke speel ook 'n belangrike rol in die lewe
van verbruikers. Dit word beskou as 'n simbool van kwaliteit, 'n hulpmiddel om aankopebesluite
te vergemaklik. Nietemin kan lojaliteit teenoor 'n handelsmerk en gevestigede
klienteverhoudings nie as vanselfsprekend aanvaar word, of aanvaar word dat dit vir altyd sal
aanhou, in 'n omgewing waar kompetisie toeneem nie.
Lojaliteit teenoor 'n handelsmerk is in essensie afhanklik van hoe die verhouding tussen die
handelsmerk en die verbruiker opgepas en spesifiek ontwikkel word: 'n gevestigde
handelsmerk skep die geleentheid om die profiel van 'n produk, asook die relevante
maatskappy se profiel, te verhoog - en derhalwe hulle te onderskei van mededingers in die
mark. 'n Sterk handelsmerk bring selfs mee dat 'n prys-premie vir produkte gehef kan word.
Op die manier word die handelsmerkwaarde of handelsmerk-ekwiteit 'n maatskappy se
grootste bate. Maar die vraag is: hoeveel is 'n handelsmerk eintlik werd? Asook, hoe kan 'n
handelsmerk se waarde vermeerder word? Die term handelsmerk-ekwiteit het sy oorsprong as
'n besigheidfinansiele konsep en is gewortel in "[die] netto huidige waarde van aIle
toekomstige netto surplusse oor die kapitale-insette wat die eienaar van die handelsmerk kan
verdien".
Bogenoemde finansieel - georienteerde maatstaf van handelsmerk-ekwiteit, is 'n geskikte
benadering om dit in monetere waarde uit te druk, soos benodig vir finansiele state,
lisensiering-ooreenkomste of oorname besluite. Daar is 'n wye verskeidenheid handelsmerk
waardasie modelle beskikbaar om die monetere waarde van handelsmerk-ekwiteit te bepaal,
maar in sommige gevalle is die modelle kontroversieel, wat daartoe lei dat die waarde van
hulle resultate, as 'n objektiewe waarneming, beperk kan wees.
Die verbruiker- georienteerde benadering tot handelsmerk-ekwiteit onderskei homself van die
finansiele benadering deur te fokus op die besluite wat gemaak word deur verbruikers, met
die oog daarop om bemarkingsmaatstawwe, asook die bestuur van 'n handelsmerk, meer
effektief en doeltreffend te maak op 'n langtermyn basis. Hierdie gedragswetenskaplike
benadering poog om 'n kwalitatiewe verklaring te gee vir die faktore wat handelsmerkekwiteit
dryf en om 'n psigologiese struktuur te gee aan die impak wat 'n handelsmerk het via
'n operasionele maatstaf.
Die onderliggende projek iIIustreer die mees aanvaarde waardasie-modelle, asook hulle
onderskeie voordele en nadele en ondersoek die verskillende benaderings tot handelsmerkekwiteit.
Metodes om handelsmerk-ekwiteit te vermeerder deur dit te benader aan die hand
van Waarde-gebaseerde Handelsmerk Bestuur (Value Based Brand Management) gee insig
ten opsigte van sy drywers en individuele handelsmerkprosesse. Hierdie benadering tot
suksesvolle handelsmerkbestuur word ten slotte vergelyk met die huidige
handelsmerkbestuur-prosesse wat deur die FMCG handelsmerk NIVEA gevolg word.
Aanbevelings aangaande meer effektiewe bestuur van hierdie internasionale handelsmerk aan
die hand van handelsmerk-ekwiteit, sluit hierdie projek af.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/50290 |
| Date | 12 1900 |
| Creators | Schafer, Nina |
| Contributors | Ouellet, Raymond, Stellenbosch University. Faculty of Economic and Management Sciences. Graduate School of Business. |
| Publisher | Stellenbosch : Stellenbosch University |
| Source Sets | South African National ETD Portal |
| Language | en_ZA |
| Detected Language | Unknown |
| Type | Thesis |
| Format | 104 p. : ill. |
| Rights | Stellenbosch University |
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