CoreBrand Completes the MASB Marketing Metric Validation and Causality Audit
Measuring the Value of Corporate Branding...
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 10/25/11 -- CoreBrand (), a pioneer in the measurement and management of the intangible asset, the corporate brand, is the first brand measurement firm to have the methodology underlying its "Brand Power Ranking" system independently audited for validation and causality by The MMAP Center of MASB [Marketing Accountability Standards Board ()], according to CoreBrand CEO James Gregory.
"A basic goal of MASB, which was created to establish marketing measurement and accountability standards that will align the marketing and finance functions, is to explain and standardize the measures currently used to value brands. Leading measurement firms, such as Interbrand, Millward Brown and CoreBrand, produce greatly varying brand valuations, all of which may be accurate depending on their own methodology, but nobody knows the rules because everyone uses a black box research model," said Gregory, whose firm began to measure the value of US corporate brands over two decades ago.
"Tying marketing metrics to financial performance in a reliably predictable, transparent manner is the critical, heretofore 'missing link' between the marketing and financial communities," said Meg Blair, president of MASB, which devised a rigorous process of "validation" -- MMAP (Marketing Metrics Audit Protocol) -- to compare measurement models.
CoreBrand was the first brand measurement firm to submit its measures for the MASB audit, which required almost a year to complete. "CoreBrand has advanced the science of marketing," said Rick Abens, president, Foresight ROI, Inc., a charter member of MASB.
"I've been working with this issue my whole career and I've never seen anything quite like CoreBrand's approach. It explains an aspect of future cash flow that published studies are clearly missing," said Leigh McAllister, professor of marketing at the McCombs School of Business, University of Texas, Austin, also a charter member of MASB.
"The MMAP validation and causality audit verified something that we've known for quite some time -- that there is value in building and maintaining strong brands -- value that can be quantitatively measured. MASB is leading the charge to help the market understand this connection and to ensure that marketers get the credit they deserve in creating corporate value," said Timothy Robinson, managing director, CoreBrand.
About the MMAP process, Robinson said, "The MMAP process was very detailed, but not onerous. The MASB team was respectful of our time and truly sought to understand our measures and approach. They asked some very insightful questions about our valuation model processes, enabling them to clearly understand our methodology."
"The audit revealed that CoreBrand's 'Familiarity' and 'Favorability' metrics align well with MMAP characteristics. This reflects CoreBrand's longtime commitment to maintain measurement quality and to relate its metrics to a measure of financial performance, stock price," said Allan Kuse, chief advisor, the MMAP Center.
"I believe that this represents an important step towards the goals MASB has set for advancing the industry and the accountability of marketing. CoreBrand's metrics were evaluated with an objective process to determine whether those metrics measured what was promised and whether the results are reliable when replicated. Both of these concepts are critical for marketing to help finance understand and believe in the return from the marketing investment," added Rick Abens, Foresight ROI, Inc.
"It's gratifying to receive affirmation of 20 years of original, proprietary research into understanding how the investment in corporate brands connects to financial performance," said CoreBrand's Gregory. "We take a very pragmatic approach to this work and offer tools to help companies get the maximum return on their marketing investment by measuring, managing and growing brand value over time."
"We continue to lead the charge in helping the accounting and finance professions understand that intangible assets like the corporate brand should be treated like other business assets and investments in brand building that can pay long-term dividends," Gregory added.
About the CoreBrand Methodology
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The brand strength of the world's best companies is continually assessed through an ongoing quantitative research study. Brand rating data is collected continuously with business decision-makers and financial influencers, a minimum of 8,000 interviews are completed each year. These corporate brand strength ratings, as well as a company's financial data are used in CoreBrand's statistical model to determine the percentage of market capitalization that is directly created by the corporate brand. Once that percentage is calculated, a dollar value can be assigned to the corporate brand based on current share price and number of shares outstanding. This study is called the Corporate Branding Index® has been continuously in the field for over 20 years.
The companies tracked in the study can be found on the following link:
CoreBrand methodology link:
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Datum: 25.10.2011 - 13:31 Uhr
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