ISO 20671 Brand Evaluation

Definition

Published by the International Organization for Standardization (ISO), ISO 20671 is an international meta-standard which puts forth a rigorous framework and set of principles for conducting systematic brand evaluations.

Because brands are too often treated as incidental business expenses, the new standard calls for brands to be proactively managed and measured at least annually “to increase entity value as established by improvements in brand strength and brand performance and ultimately indicators of financial results.” The standard applies to both internal and external brand evaluations, including those done by analysts, investors and lenders. [1]

ISO 20671 is sometimes referred to as marketing’s ‘Golden Ticket’ as it is used by marketing professionals to explain the contribution of branding to enterprise value, thereby opening dialog with corporate leadership. [2]

See also

ISO 20671: Principles and Fundamentals

References

  1. International Organization for Standardization, ISO 20671:2019.
  2. Marketing Accountability Standards Board, ISO 20671: Brand Evaluation – The Golden Ticket for Marketers.

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