品牌價值之評價模式--以戴爾及IBM電腦為例

Abstract

品牌評價的認知已廣泛讓企業認同及接受，品牌價值也不斷被應用於不同的用途，如併購時品牌價值即被視為一種非常重要的資產•業界已有不少顧問公司提供相關的評價服務。這些顧問公司應用不同的評價方法，更透過大量問卷調查及客戶訪談，甚至進行跨國之調查，以進行消費者對品牌商品及品牌企業認知的評價。然而Roy and Deborach (2000) 對做過品牌評價的企業進行調查，在其報告中顯示，59%受調查企業反應評價的結果只有部份貢獻，而只有20%受調查企業滿意評價結果。這個結果並不讓人覺得訝異，如此透過大幅問卷及訪談的基礎，隱含太多客觀及主觀之因素，才會產生如此評價結果。所以本研究乃採取以市場導向的方式，以消費者對品牌商品及其價值的認知為出發點。當消費者認同品牌商品的價值，即使價格上差異，並不會影響消費者購買意願，而透過購買品牌商品，更創造了品牌企業的收益。 本研究所創立的評價方法，乃建立在品牌商品對應其他弱勢品牌所擁有的超額溢酬(Price premium)上，透過市場價格訪察、分析、整理、及配對等程序，進而估算出品牌價值的乘數(平均溢酬率)。由本研究實證結果得知：戴爾電腦品牌價值乘數比為14.73%，而IBM電腦品牌價值乘數比為29.67%。其次本研究應用自由現金流量折現法(FCF)估算戴爾電腦與IBM電腦的品牌價值，由本研究實證結果得知戴爾電腦品牌價值為 8,897百萬美元，而IBM電腦品牌價值為 55,831百萬美元。 由本研究評價方法的實證結果，證實透過市場價格溢酬，確實可以有效評價品牌的價值。企業如需快速取得品牌價值的資訊，以作為品牌經營相關策略，那本研究所創立的評價方法可供業界的參考。

The acknowledgement of Brand value is recognized & accepted by most companies. Brand value also be utilizes in various application and also become a most important Asset during the Merge & Acquisition. A lot of consultant firms provide the service for brand Valuation by their own methodology. But most of then still require the widely survey and interview for the acknowledgement of brand and their merchandises and the coverage may extend to globalization. A research to those firms that has carried out the brand valuation exercises was showed 59 percent of them feel only partial benefits from valuation and only 20 percent feel satisfied (Roy and Deborach,2000). This result is not so surprise when the valuation was relay on such widely survey. So this research was based on market approach and acknowledge of the value of brand and merchandises. If customer recognized the brand value then the price different would not impact their decision to purchase the brand merchandises. The firm will get more profit when customer purchased their products. The valuation model developed by this research was established on the price premium of products between the strong brand and weak brand. This research does go through the process of Market price survey, analysis the information, summary the data and match with similar product then come out the Brand Value Added Multiplex ratio. From the result of this research showed the brand Value Multiple ratio for Dell computer is 14.74% and IBM computer is 29.67%. After the calculation the Brand Value with FCF (Free cash Flow) model that showed the Brand value for Dell computer is US$ 8,897 million and IBM computer is US$ 55,831 Million. The research found this Valuation model can be really estimated the Brand value from the market price premium. This valuation model was recommended for who required the information of Brand value more quickly and effective for the business strategy.