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Authors
Abstract(s)
A presente dissertação insere-se num projeto de investigação da Universidade Católica e parceiros especializados que procura, partir do estado da arte sobre avaliação financeira de marcas definir um método para extrair o seu valor a partir da resposta dos stakeholders responsáveis pelos ganhos financeiros que a marca possa gerar.
O texto é baseado em dois artigos complementares deste grupo de pesquisa, que foram aceites e apresentados pelo autor em conferências internacionais em 2018.
O primeiro artigo apresenta a fundamentação do método de avaliação adotado, baseado numa abordagem semiótica triádica que decompõe a marca em identidade, objeto e resposta.
A avaliação da marca corresponde à quantificação da resposta à mesma, a nível cognitivo, afetivo e comportamental (valor de marketing).
A nível financeiro corresponde aos cash flows gerados pelos comportamentos dos diferentes stakeholders (valor financeiro).
O segundo artigo apresenta o método propriamente dito, propondo uma avaliação baseada num questionário aplicado diretamente aos stakeholders, que nos permite obter dois indicadores básicos para a avaliação financeira: a influência da trademark e a influência do risco. A influência da trademark estima os cash flows em dois cenários, com e sem a trademark a identificar as atividades da marca, recorrendo a um processo de simulação Markoviano. A influência do risco calcula um multiplicador que aumenta ou diminui a taxa de atualização dos cash flows estimados, aumentando ou diminuindo o risco (β) associado ao(s) sector(es) de atividade da marca. O multiplicador de risco é inversamente proporcional à preferência da marca, quantificada a partir de uma matriz de Fishbein construída com os fatores de preferência (drivers) e as marcas concorrentes evocados pelos stakeholders.
Acreditamos que esta via de pesquisa representa um caminho diferenciador na prática de avaliações de marca, na medida em que as alternativas atuais se baseiam fortemente em opiniões de experts, dados recolhidos da gestão de topo e também em perguntas cuja subjetividade nos parecem tornar no mínimo questionável que da resposta às mesmas se retirem dados que definam com razoável precisão o valor financeiro da marca.
The present dissertation is part of a research project of the Catholic University and specialized partners that seeks, from the state of the art on financial brand valuation, to define a method to extract its value from the response of the stakeholders responsible for the financial gains that the brand can generate. The text is based on two complementary articles from this research group, which were accepted and presented by the author at international conferences in 2018. The first article presents the basis of the evaluation method adopted, based on a triadic semiotic approach that breaks the brand into identity, object and response. The evaluation of the brand corresponds to the quantification of the response to it, at the cognitive, affective and behavioral level (marketing value). The financial level corresponds to the cash flows generated by the behavior of the different stakeholders (financial value). The second article presents the method itself, proposing an evaluation based on a questionnaire applied directly to the stakeholders, which allows us to obtain two basic indicators for financial evaluation: the influence of trademark and the influence of risk. The influence of trademark estimates the cash flows in two scenarios, with and without the trademark identifying the activities of the brand, using a Markovian simulation process. The influence of risk calculates a multiplier that increases or decreases the rate of updating of the estimated cash flows, increasing or decreasing the risk (β) associated to the brand activity sector (s). The risk multiplier is inversely proportional to the preference of the brand, quantified from a Fishbein matrix constructed with the drivers' preference factors and competing brands evoked by stakeholders. We believe that this research route represents a differentiating path in the practice of financial brand valuation, since the current alternatives are based heavily on expert opinions, data collected from top management and also on questions whose subjectivity seems to us to be at least questionable that the answer to such data should be taken to define with reasonable accuracy the financial value of the brand.
The present dissertation is part of a research project of the Catholic University and specialized partners that seeks, from the state of the art on financial brand valuation, to define a method to extract its value from the response of the stakeholders responsible for the financial gains that the brand can generate. The text is based on two complementary articles from this research group, which were accepted and presented by the author at international conferences in 2018. The first article presents the basis of the evaluation method adopted, based on a triadic semiotic approach that breaks the brand into identity, object and response. The evaluation of the brand corresponds to the quantification of the response to it, at the cognitive, affective and behavioral level (marketing value). The financial level corresponds to the cash flows generated by the behavior of the different stakeholders (financial value). The second article presents the method itself, proposing an evaluation based on a questionnaire applied directly to the stakeholders, which allows us to obtain two basic indicators for financial evaluation: the influence of trademark and the influence of risk. The influence of trademark estimates the cash flows in two scenarios, with and without the trademark identifying the activities of the brand, using a Markovian simulation process. The influence of risk calculates a multiplier that increases or decreases the rate of updating of the estimated cash flows, increasing or decreasing the risk (β) associated to the brand activity sector (s). The risk multiplier is inversely proportional to the preference of the brand, quantified from a Fishbein matrix constructed with the drivers' preference factors and competing brands evoked by stakeholders. We believe that this research route represents a differentiating path in the practice of financial brand valuation, since the current alternatives are based heavily on expert opinions, data collected from top management and also on questions whose subjectivity seems to us to be at least questionable that the answer to such data should be taken to define with reasonable accuracy the financial value of the brand.
Description
Keywords
Valor da marca Avaliação de trademarks Valor financeiro da marca Valor de marketing da marca Semiótica da marca Avaliação de ativos intangíveis Risco da marca Brand equity Trademark valuation Financial brand value Marketing brand value Brand semiotics Intangible assets valuation Brand risk