会计学院知识库

       随着我国经济的蓬勃发展，居民的生活水平有了显著提升，物质基础变得更加充裕。伴随着这一变化，从2012年的人均GDP约3.98万元增长到2022年的约8.57万元，居民的消费能力同样显著增强，其消费水平从2012年的大约1.41万元增加到2022年的3.19万元。如此背景下，消费者的购买偏好也在转变，从最初的注重价格和基本质量向追求高品质和个性化产品的需求转变。这种转变促使了企业间的竞争焦点，也从单一的产品或服务质量，转向了更为复杂的品牌竞争层面。品牌的重要性在企业的发展中愈发凸显，尤其是在快速成长的婴幼儿配方奶粉行业中。中国飞鹤有限公司创立于1962年，并成功在2019年于香港交易所上市，展现出该行业的活跃度及诸多企业在市场竞争力提升方面的努力，例如通过融资和并购等方式。显然，强势的品牌形象对于企业吸引消费者以及投资者方面发挥着无可替代的作用，因此品牌价值对企业总体价值的贡献不容忽视。本文旨在探讨婴幼儿乳粉企业品牌价值的评估方法，并力图对该行业未来的品牌价值评估提供一定的参考。
       本研究选择了以收益法为基础的Interbrand模型，作为评估婴幼儿配方奶粉企业品牌价值的工具。尽管该模型原本专注于市场角度的品牌价值评估，但考虑到婴幼儿乳粉行业特有的稳定性、产品同质化程度高、低准入门槛以及对消费者高度依赖等特点，这可能导致评估结果有所偏差。因而在审视相关理论和文献的基础上，本文提出从消费者角度入手，对该模型进行几方面的改进：通过灰色预测模型预测企业未来净利润以提高科学性和合理性；同时结合消费者视角调整品牌作用指数和品牌强度，利用层次分析法建立评价矩阵，并基于问卷调查的方式，使用SPSS软件进行数据处理，从而计算出品牌作用指数及品牌强度；最后利用修正的评估模型公式，计算出飞鹤乳业的品牌价值为230.04亿元。通过对飞鹤乳业案例的评估分析，应用改进后的Interbrand模型，得出其品牌价值，并进一步通过评估结果的分析，指出了飞鹤乳业存在的问题，并提出了提升企业品牌价值的相关策略。本文希望通过对飞鹤乳业品牌价值的评估以期为婴幼儿乳粉行业品牌价值评估提供了一个科学合理的评估模型。

      With the vigorous development of China's economy, the living standards of residents have been significantly improved, and the material foundation has become more abundant. With this change, the per capita GDP has increased from about 39,800 yuan in 2012 to about 85,700 yuan in 2022, and the consumption power of residents has also increased significantly, with their consumption level increasing from about 14,100 yuan in 2012 to 31,900 yuan in 2022. In this context, consumers' purchasing preferences are also changing, from the initial focus on price and basic quality to the pursuit of high-quality and personalized products. This shift has led to a shift in the focus of competition between companies from a single product or service quality to a more complex level of brand competition. The importance of brand is becoming more and more prominent in the development of enterprises, especially in the fast-growing infant formula industry. Founded in 1962 and successfully listed on the Hong Kong Stock Exchange in 2019, China Feihe Limited demonstrates the vibrancy of the industry and the efforts of many companies to improve their market competitiveness, for example through financing and mergers and acquisitions. Obviously, a strong brand image plays an irreplaceable role in attracting consumers and investors, so the contribution of brand value to the overall value of a company cannot be ignored. The purpose of this paper is to discuss the evaluation method of the brand value of infant milk powder enterprises, and to provide some reference for the future brand value evaluation of the industry.
      In this study, the Interbrand model based on the income method was selected as a tool to evaluate the brand value of infant formula milk powder companies. Although the model originally focused on brand value assessment from a market perspective, it may lead to biased evaluation results due to the unique characteristics of the infant milk powder industry, such as stability, high product homogeneity, low entry barriers, and high dependence on consumers. Therefore, on the basis of reviewing relevant theories and literature, this paper proposes to improve the model in several aspects from the perspective of consumers: predicting the future net profit of enterprises through the gray prediction model to improve the scientificity and rationality; At the same time, the brand action index and brand strength were adjusted from the perspective of consumers, the evaluation matrix was established by analytic hierarchy process, and the data processing was carried out by SPSS software based on the questionnaire survey, so 
as to calculate the brand action index and brand strength. Finally, using the modified evaluation model formula, the brand value of Feihe Milk is calculated to be 23.004 billion yuan. Through the evaluation and analysis of the case of Feihe Milk, the improved Interbrand model is applied to obtain its brand value, and the problems of Feihe Milk are pointed out through the analysis of the evaluation results, and the relevant strategies to enhance the brand value of the enterprise are proposed. This paper hopes to provide a scientific and reasonable evaluation model for the brand value evaluation of infant milk powder industry through the evaluation of the brand value of Feihe Milk.