The ISO (International Organization for Standardization), recognized leader in setting international industry standards, brought together standards boards from around the world to publish ISO 20671, a global standard for brand evaluation designed to grow brand-owner value. As brands are too often treated as incidental business expenses, the new standard calls for brands to be …
The terms brand valuation and brand evaluation are in the news with the launch of unanimously-approved global standard ISO 20671 Brand Evaluation – Principles and Fundamentals. How different can these terms be that differ by just one letter? The new standard puts forth a framework of principles for conducting a brand evaluation, which includes …
By working with ISO Consultants, the International Organization for Standardization, MASB is playing an increasingly influential role in the development of new global brand standards. In 2007, ISO set up Technical Committee 289 to draft an international standard on monetary brand valuation. Released in 2010, ISO 10668 Brand Valuation set out principles for valuing …
The recently released ISO 20671 Brand Evaluation standard puts forth a “rigorous framework and set of principles” for regular brand evaluation reporting. Included in the list of example financial metrics is return on brand and marketing investments. Yet no details on best practices for reporting such metrics are included. This can lead to ambiguity given …
The new ISO standard for Brand Evaluation is the Golden Ticket for marketers as it offers an integrated reporting process for brand value. MASB represented the U.S. in the development of ISO 20671 under the auspices of the American National Standards Institute (ANSI). ISO Technical Committee 289, which crafted the new standard, is meeting …
A new global standard for brand evaluation, ISO 20671, recognizes that a brand’s primary purpose is to increase total business value, reduce risk, and extend the sustainable existence of the brand-owning entity. For the first-time, brand owners have a globally applicable and accepted approach to monitoring their brands, and according to MASB, the Marketing Accountability Standards Board, …