Brand value is referred to as the financial worth of a company. Companies and entrepreneurs are ready to spend a huge amount of money for creating brand awareness among the customer to recognize their brand and pay them for use. Brand value is most important for a certain type of companies and markets to influence revenue.
Even though the brands are intangible assets it is much essential to have a meeting or talk with the investors or the stakeholders, more over it gives value to the company and makes them invest in your company’s future plans. Brand equity is the most important aspect the companies have to pay a lot of attention to increase their brand value.
Brand Equity Vs Brand Value:
- Brand value is defined by the cost of a particular company to buy where as brand equity is the business value obtained from the name and recognition of the company among the consumer.
- The metric here is whether the company is gaining value or losing it but in the brand equity how an end consumer is recognized and memorable to the brand product.
- If a company’s brand value has to increase the most important factor is to increase the brand equity.
- Increasing the brand value against the competitors, make the sale rise in the end the company gain profit leading to brand value gain.
Brand Registration in India Steps:
To safeguard the brand from your competitors get it registered with your TradeMark. The trademark is valid for 10 years and it can be renewed at the end of every 10 years.
- For registering your brand a trademark application has been prepared with Form ™ – 1 with documents like proprietor ID proof, PAN card or Aashaar card, proposed mark for use, trademark softcopy, power of attorney, and brand logo.
- The application amount is to be paid as mentioned in the application form.
- Application for the registration can be filled up manually or by e-filing, in case of e-filing the receipt will be provided immediately through the website.
- The registrar with has a keen check to ensure that the product for registration does not have any conflict with the existing or pending products and brands.
- After that the brand name will be published in the Indian Trade Mark Journal and will be waited for 3 to 4 months as there is no objection to it then it will proceed to acceptance.
- In case of rejection or non-approval the applicant can refill and apply for the same without any charges.
Brand Value Measured:
- Market-based valuation: This method is used to determine the value of the brand depending on the market value.
- Cost-based valuation: It includes all the costs spent in developing and creating the company. With this, your will know how much value is invested to build your brand.
- Income-based Valuation: To know the money generated by your business this approach will be helpful.
- Net promoter score (NPS) valuation: This measure how your customer is promoting your brand and can be known with feedback.
To have a unique business identity among the consumers registering your brand is most important. As discussed above brand is a value-added asset to your business and for making it international, get it done easily contact Trade & Trade at Coimbatore and Tiruppur. We have an expert team handling all the filling processes to get work done at the earliest to make your business started soon.