[雙語翻譯]外文翻譯--品牌資產(chǎn)的價值（英文）

1、 Procedia Economics and Finance 6 ( 2013 ) 444 – 448 2212-5671 © 2013 The Authors. Published by Elsevier B.V. Selection and peer-review under responsibility of Faculty of Economic Sciences, Lucian Blaga Unive

2、rsity of Sibiu. doi: 10.1016/S2212-5671(13)00161-5 International Economic Conference of Sibiu 2013 Post Crisis Economy: Challenges and Opportunities, IECS 2013 The Value of Brand Equity Camelia Budaca*, Lia Baltadora a

3、 Faculty of Economic Sciences, Abstract This paper aims to be a brief presentation of brand equity as a provider of strategic advantages for companies that own brands. Successful management of a brand must be focused on

4、 values capitalization so that these attributes could represent a natural extension of general perception. The stated goal of any brand manager is to strengthen the brand values so that they may be easily recognizable

5、and identifiable to the public. © 2013 The Authors. Published by Elsevier B.V. Selection and peer-review under responsibility of Faculty of Economic Sciences, Lucian Blaga University of Sibiu. Keywords: brand; bra

6、nd equity; brand valuation; best brands; performance indicators. 1. Introduction Branding is designing and managing brands to increase their net value. This activity is also called brand management; either of these two

7、definitions name basically the same thing stated above. In his book “Brand Simple“, Allen P. Adamson (2009) defines branding as “the execution and management of things that determine how people perceive the brand.“ Li

8、ke any other asset, brand management is very important for the success of the company in the market. “If launched and supported effectively, the brand is a major corporate resource - sometimes the most valuable financia

9、l asset of an organization. The brand, as finance, investment, human resources, research and development, marketing, information technology and other corporate resources, needs authority, rules, proper funding, commitm

10、ent and management. If thus supported the brand-resource will be as effective as any other resource, if not, the resource is exhausted.“(Olins 2009) *Corresponding author. E-mail address: camelia.budac@ulbsibiu.ro &#

11、169; 2013 The Authors. Published by Elsevier B.V. Selection and peer-review under responsibility of Faculty of Economic Sciences, Lucian Blaga University of Sibiu.Available online at www.sciencedirect.comScienceDirectOp

12、en access under CC BY-NC-ND license.Open access under CC BY-NC-ND license.446 Camelia Budac and Lia Baltador / Procedia Economics and Finance 6 ( 2013 ) 444 – 448 acquisitions, and capital market development (th

13、rough transactions at values higher than tangible assets) have shown that a business should be evaluated beyond its tangible assets (“factories“) and that intangible assets can generate a great value to a company. The

14、brand has stood out in recent decades as a massive generator of value in many industries and thus the identification has become necessary and also its “exclusion“ from goodwill range (including as well patents, copyrig

15、hts, know-how, and so on). The brand is sometimes called “hidden value“ because in most cases it does not appear in the financial statements of companies. 3. Models used in brand valuation A thorough approach to brand v

16、aluation techniques implies widely accepted financial techniques as well as future discounted cash flows (Discounted Cash Flow). To reach these cash flows related to the brand there are used two main approaches. One of

17、 them is apparently simple: it applies a royalty rate on total sales forecast upon the theory that if you did not have your own brand, you should have a license for the brand from a third party and pay a fee. In other

18、words, by having your own brand, you “save“ the fee for each product sold. The difficulty is to find relevant rates, especially where there is a no history and a critical amount of transactions (for example the case of

19、the Romanian market). A second approach, more complex is the one used by Interbrand (Best Global Brands 2012) and it implies a “dissecting“ of the profit of business until the brand contribution is identified. In both

20、 approaches the measurement of the force / stability of the brand is necessary in order to prove first, that it exists and to place it on a certain scale of risk involved. The most recent analysis released by Interbra

21、nd (2012) shows that the most valuable brand remains Coca-Cola (77.84 billion dollars), while Apple (76.568 billion dollars) goes on second place. Facebook (5.4 billion dollars) first enters the ranking and Google ($ 7

22、0 billion) surpasses Microsoft (58 billion dollars) for the first time. Coca-Cola, Apple and IBM are the best three brands in the world and Facebook first enters Interbrand ranking, on the 69th place, after the highest

23、 initial public offer in history. Google's value has increased by 26%, surpassing Microsoft competitor, which this year is placed on the 5th position. In order to identify the first 100 most valuable brands in the

24、world, Interbrand has taken into consideration three aspects: financial performance in goods and services provided by the brand, the role of the brand that plays in increase pAmong the brands with higher value in 2012 c

25、ompared to last year there is Apple, a company whose value increased by 129% in the last year, thus registering the highest growth in the ranking of most valuable brands developed by Interbrand. The best positions in

26、the Interbrand rankings have the brands from technology, given that five of the ten top positions are occupied by Apple, Google, Microsoft, Intel and Samsung. The table 1 shows the top of 25 brands according to the cla

27、ssification developed by Interbrand as well as the current value and the evolution or involution in relation to the previous year. Table 1. The Top 25 Brands Rank Brand Region/Country Sector Brand value ($ m)

28、Change in Brand value 1 COCA-COLA United States Beverages 77,839 +8% 2 APPLE United States Electronics 76,568 +129% 3 IBM United States Business Services 75,532 +8% 4 GOOGLE United States Internet Serv