crocin brand value brand measurement

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This report is made by students of Great Lakes Institute of Management, Chennai who try to find the Brand Tracker Index of Crocin. This is done by finding its Brand Image, Brand Equity and Brand Value TRACKING CROCIN 4/5/2014Discovering the Insights of Brand Crocin This report is made by students of Great Lakes Institute of Management, Chennai who try to find the Brand Tracker Index of Crocin. This is done by finding its Brand Image, Brand Equity and Brand Value ContentsINTRODUCTION 2Evolution of the brand: 2Crocin Heritage Brand & Its Patent 3MEASURING BRAND IMAGE 4Summary 4Quantitative Research method 4Y&R BrandAsset Valuator 4Brand Strength 4Brand Stature 5Results and Analysis 6Qualitative Research Method 8Laddering 8Recommendation 10MEASURING BRAND EQUITY 11Summary 11Brand Equity 11Analysis and Results 13Attribute Analysis 13Loyalty Analysis 14Price Premia Analysis 15Leveragability Analysis 16Measuring Brand Equity Index 17Interbrand Model 18Recommendation 20BRAND VALUE MEASUREMENT 21Calculating Economic Value Added 21Assumptions: 22APPENDIX 23Questionnaire 1 23Questionnaire 2 25TRACKING CROCINDISCOVERING THE INSIGHTS OF BRAND CROCININTRODUCTIONCrocin is a natural antioxidant chemical compound that is generally found in the flowers of the plants called crocus and gardenia. It is the diester formed from the combination of dicarboxylic acid crocetin and the disaccharide gentiobiose. It is deep red in colour and forms an orange solution when dissolved in water.The brand Crocin is a trusted household healthcare name and has retained its position for over three decades. Crocin is an over-the-counter drug that is easily available to the patients. It is widely used as an effective cure for mild-to-moderate pain. It enjoys the trust and confidence of the medical practitioners across the country and also commands a strong medical equity. Evolution of the brand:Crocin, as a brand, has evolved over the years from body ache and a pain relieving medicine to an over the counter and household drug. It has become a brand of choice and trust. Continuously introducing innovative products, Crocin has evolved significantly from its first simple 500 Mg paracetamol variant to a range of product extensions like Crocin Cold & Flu, Crocin Pain Relief and Crocin 650 Mg tablets along with an entire range of liquid formats specially targeted towards Kids and Children. Crocin Advance: Crocin Advance is an add-on to its original variant and works up to five times faster than its regular variant. Crocin Advance with Optizorb technology releases its medicine up to five times faster than ordinary paracetamol tablets, providing faster and effective relief.Crocin Pain Relief: This is a clinically proven pain relief drug that contains a slightly higher dose of paracetamol along with caffeine. It provides quick and effective relief from daily aches and pains.Crocin Cold and Flu: The special non drowsy formula of Crocin Cold and Flu provides effective and quick relief from multiple symptoms of cold without inducing one to sleep. This medicine contains paracetamol that has analgesic as well as antipyretic properties. It also contains special ingredients which help in relieving congestion.Baby and Kids Range: After having numerous varieties for adults, Crocin pediatric case is a complete range of antipyretic, analgesic medicines that includes drugs from infants to toddlers to older kids up to 12 years. The range consists of:Crocin Drops Crocin Suspension (120 mg/ 5 ml)Crocin Suspension Double Strength (240 mg/ 5 ml)Crocin Heritage Brand & Its PatentCrocin is a three decade old heritage brand. The generic brand belongs to the anti-pyretic category in India. It is an over the counter (OTC) drug i.e. It can be bought without doctor’s prescription. The brand is the market leader in the paracetamol category. Crocin was launched in India 3

TRANSCRIPT

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    TRACKINGCROCIN

    4/5/2014

    Discovering the Insights of Brand Crocin

    This report is made by students of Great Lakes Institute of

    Management, Chennai who try to find the Brand Tracker Index

    of Crocin. This is done by finding its Brand Image, Brand Equity

    and Brand Value

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    TRACKING CROCIN

    Page 1

    Contents

    INTRODUCTION................................................................................................................... 2

    Evolution of the brand: ............................................................................................................................ 2

    Crocin Heritage Brand & Its Patent ...................................................................................................... 3

    MEASURING BRAND IMAGE ............................................................................................... 4

    Summary ..................................................................................................................................................... 4

    Quantitative Research method ............................................................................................................... 4

    Y&R BrandAsset Valuator .................................................................................................................... 4

    Brand Strength ....................................................................................................................................... 4

    Brand Stature ......................................................................................................................................... 5

    Results and Analysis .............................................................................................................................. 6Qualitative Research Method ................................................................................................................ 8

    Laddering ................................................................................................................................................ 8

    Recommendation .................................................................................................................................... 10

    MEASURING BRAND EQUITY ............................................................................................ 11

    Summary .................................................................................................................................................. 11

    Brand Equity ........................................................................................................................................... 11

    Analysis and Results .............................................................................................................................. 13

    Attribute Analysis ................................................................................................................................ 13

    Loyalty Analysis .................................................................................................................................. 14

    Price Premia Analysis ......................................................................................................................... 15Leveragability Analysis ..................................................................................................................... 16

    Measuring Brand Equity Index ......................................................................................................... 17

    Interbrand Model .................................................................................................................................. 18

    Recommendation .................................................................................................................................... 20

    BRAND VALUE MEASUREMENT ........................................................................................ 21

    Calculating Economic Value Added ................................................................................................... 21

    Assumptions: ............................................................................................................................................ 22

    APPENDIX ......................................................................................................................... 23

    Questionnaire 1 ..................................................................................................................................... 23

    Questionnaire 2 ..................................................................................................................................... 25

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    TRACKING CROCIND I S C O V E R I N G T H E I N S I G H T S O F B R A N D C R O C I N

    INTRODUCTIONCrocin is a natural antioxidant chemical compound that is generally found in the flowers of the plants calledcrocus and gardenia. It is the diester formed from the combination of dicarboxylic acid crocetin and the

    disaccharide gentiobiose. It is deep red in colour and forms an orange solution when dissolved in water.

    The brand Crocin is a trusted household healthcare name and has retained its position for over three decades.Crocin is an over-the-counter drug that is easily available to the patients. It is widely used as an effective cure

    for mild-to-moderate pain. It enjoys the trust and confidence of the medical practitioners across the country

    and also commands a strong medical equity.

    Evolution of the brand:

    Crocin, as a brand, has evolved over the years from body ache and a pain relieving medicine to an over the

    counter and household drug. It has become a brand of choice and trust. Continuously introducing innovativeproducts, Crocin has evolved significantly from its first simple 500 Mg paracetamol variant to a range of

    product extensions like Crocin Cold & Flu, Crocin Pain Relief and Crocin 650 Mg tablets along with an entirerange of liquid formats specially targeted towards Kids and Children.

    Crocin Advance:Crocin Advance is an add-on to its original variant and works up to five times faster than its

    regular variant. Crocin Advance with Optizorb technology releases its medicine up to five times faster than

    ordinary paracetamol tablets, providing faster and effective relief.

    Crocin Pain Relief: This is a clinically proven pain relief drug that contains a slightly higher dose ofparacetamol along with caffeine. It provides quick and effective relief from daily aches and pains.

    Crocin Cold and Flu: The special non drowsy formula of Crocin Cold and Flu provides effective and quick

    relief from multiple symptoms of cold without inducing one to sleep. This medicine contains paracetamol that

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    has analgesic as well as antipyretic properties. It also contains special ingredients which help in relievingcongestion.

    Baby and Kids Range: After having numerous varieties for adults, Crocin pediatric case is a complete range

    of antipyretic, analgesic medicines that includes drugs from infants to toddlers to older kids up to 12 years.

    The range consists of:

    Crocin Drops

    Crocin Suspension (120 mg/ 5 ml)

    Crocin Suspension Double Strength (240 mg/ 5 ml)

    Crocin Heritage Brand & Its Patent

    Crocin is a three decade old heritage brand. The generic brand belongs to the anti-pyretic category in India.

    It is an over the counter (OTC) drug i.e. It can be bought without doctors prescription. The brand is the marketleader in the paracetamol category. Crocin was launched in India 30 years ago by the company Duphar

    Interfran Ltd. During its early years, the brand was marketed through the ethical route. The brand was boughtby Smithkline in 1996. The brand was so successful in the market that GSK bought it for a considerableamount of Rs 45 crore. There was logic behind the brand acquisition. GSK had the brand Calpol in the

    prescription market and was a market leader in the Ethical segment. Crocin was proving to be a major threat

    for Calpol. So the brand was acquired in order to safeguard the position of Calpol. The IndianPharmaceutical market is huge with a valuation of $45 billion in which the OTC segment accounts for a valueof $ 1 Billion i.e. Rs 4500 crore. Crocin is in the analgesic/antipyretic market. The analgesic (pain Killer)

    market is a large market with a size of Rs 900 crore and the mild analgesic market is worth Rs 300 crore.

    Within the analgesic market there are two types: Aspirin based and Paracetamol based. Paracetamol basedformulations constitute a major part of the market.

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    MEASURING BRAND IMAGE

    Summary

    Crocin is among the oldest and most reputed brands when it comes to OTC drug. In has enjoyed a stable

    position in the market and also enjoys huge market share.

    There was a time when people were confused about its positioning. The brand which was struggling itself to

    break the fever pill perception has undergone a repositioning exercise.

    Young & Rubicams Brand Asset Valuator model is used to measure the brand image of Crocin. This model

    helps one measure the strength (stature) and vitality of the brand w.r.t four parameters, viz. knowledge, esteem,

    relevance, differentiation. The scores for the parameters are given below:

    CROCIN DISPRIN COMBIFLAM VOVERAN SARIDON

    Knowledge 49% 19% 14% 5% 13%

    Relevance 63% 7% 19% 5% 6%

    Esteem 52% 8% 26% 3% 11%

    Differentiation 36% 16% 16% 16% 16%

    Quantitative research was carried on respondents by an online questionnaire. A sample size of 50 respondents

    was taken and data was collected and different scores were calculated to measure Brand Image.

    Result showed that brand vitality for Crocin is more than brand stature.

    Next, qualitative research - laddering was carried on respondents.

    Brand image is the sum of impressions that affect how we perceive a brand, including elements that identifyor distinguish the brand from others, the personality the brand acquires and the benefits it promises. Tocalculate the Brand Image both qualitative and quantitave reaseach methods are used.

    Quantitative Research method

    Y&R BrandAsset Valuator

    The brand value of a brand can be determined by using this BAV model that was developed by theadvertising agency Young and Rubicam by applying four factors as below which are further grouped in totwo categories.

    Brand Strength

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    It is the relationship between a brands differentiation and relevance factors which is the yardstick for a

    brands growth potential: the Brand Strength.

    Brand Stature

    Esteem and knowledge indicate the involvement with a brand: the Brand Stature. It is the decisive gauge ofthe goodwill which a brand enjoys.

    In our study, an online questionnaire was prepared and circulated for which responses were collected and

    analyzed to arrive at conclusions about CROCIN as a brand. Consumers perception of the brand across

    all the 4 factors of BAV model is understood. Each factor is then given a weight age of 100% which is

    split amongst the questions of same factor accordingly. A score for each of the brands in the study is then

    calculated by using the weight age and totaling the number of responses. The final score for brand value

    of Crocin was calculated based on the scores of each factor.

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    Results and Analysis

    The result of the data collection has been tabulated below:

    CROCIN DISPRIN COMBIFLAM VOVERAN SARIDON

    Knowledge 49% 19% 14% 5% 13%

    Relevance 63% 7% 19% 5% 6%

    Esteem 52% 8% 26% 3% 11%

    Differentiation 36% 16% 16% 16% 16%

    Findings clearly show that Crocin scores well on all the 4 parameters- differentiation, relevance, esteem andknowledge.

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    The power grid of the above brands is as shown:

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    Finally, after finding out the different pillars of BAV for crocin, we plot it in as shown

    Crocin scores high on relevance which means that people consider it to be appropriate and vital to use. Itscores relatively low on differentiation which means that people consider all th OTC drug same. It scores

    relatively well on knowledge and esteem. But it also shows that more awareness for the brand needs to be

    created for the brand. The graph also shows that brand vitality is more that brand stature for crocin.

    Qualitative Research Method

    Laddering

    Laddering is an interview technique to find the subconscious reasons of why a particular task if preferred. It

    helps one get the subconscious reasons of doing particular task. The interview starts with the interviewerasking the question Did you like the movie, interviewee replies, I like the movie because I like its storyline,why did you like storyline, reply, I liked the storyline because it was about how a person from rags to riches

    and the questions keep on building up. The format which is followed is

    Interviewer: "Why x?"

    Subject: "Because z"

    Interviewer: "Why z?"

    Subject: "Because b"

    Interviewer: "Why b?"

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    After this process, the interviewer reaches to the cognitive reason behind the task. The express goal ofdetermining sets of linkages is to find the key perceptual elements across the range of attributes (A),

    consequences (C), and values (V). From these questions dominant connections can then be graphicallyrepresented in a tree diagram, termed a hierarchical value map (HVM).

    In our case, when we went to ask questions regarding consumption of Crocin, most of them replied that theytake consume as they want to relieve pain. When asked further that why they want to get relieved from pain,as they wanted to do their own work. The majority replied that they want to do their part of work because

    first they dont like others doing their work second they dont trust others who do their work. The cognitive mapis as sketched below.

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    Recommendation

    Crocin scores high on relevance which means that people consider it to be appropriate and vital touse.It scores relatively low on differentiation which means that people consider all th OTC drug same.Advertisements on crocin should show the unique features of the brand. It needs to know the customer

    well.

    It scores relatively well on knowledge and esteem. But it also shows that more awareness for the

    brand needs to be created for the brand as recall is low. Crocin should do more of ad campaigns and promotional activities to increase awareness and

    highlight its differentiating factor

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    MEASURING BRAND EQUITY

    Summary

    We measure brand equity by using three metricsloyalty, price premia and levergability. We have developeda model which deals with the above three criteria. The study was conducted on a sample size of 40. The

    instrument used for data collection was face-to-face structured interview and online questionnaire. In our modelwe measured Brand Equity as what consumers hold in their head about a brand, and how that affects their

    behavior. A comparative study was done with four other competitors of CROCIN (Disprin, Combiflam, Voveron

    and Saridon) across the three metrics. At first comparative study was done for all the five brands of OTC drugfor Consumer loyalty and Price Premium i.e. what consumers do or feel. Then it was done for leveragability inthe same way and the brand equity index was thus calculated using the three.

    Crocin is a clear favorite amongst the people and the positioning followed by GSK for this brand is in line with

    what the consumers want. Hence we can conclude that, Crocin should continue as market leader in the coming

    years.

    The brand equity index of Crocin is 0.9894

    Brand Equity

    Brand Equity measures the ability of the brand to manage the changed market condition. It is the added

    value endowed on products and services, which may be reflected in the way consumers, think, feel, and act

    with respect to the brand. Thus, Brand Equity is an important intangible asset to the firm that has psychologicaland financial value. Because it is an intangible asset, it is not easy to measure. In simpler terms it can be

    defined as the value premium that a company realizes from a product with a recognizable name ascompared to its generic equivalent. Companies can create brand equity for their products by making themmemorable, easily recognizable and superior in quality and reliability.There are different models to measureit but none of them is perfect. Brand equity can be broadly categorised as brand awareness, brand

    association, brand identity, brand loyalty and percieved value.

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    All the models define their own method to measure the Brand Equity by measuring the three Brand Equitymetrics:

    Loyalty- Brand loyalty, in marketing, consists of a the commitment of the comsumer to repurchase or continue

    using the same brand.

    Price PremiaThe willingness of the consumers to pay a premium for the brand

    LeveragabilityIt represents the brands ability to stretch from one offering to another

    We have developed a model which deals with the above three criteria. The study was conducted on a sample

    size of 40. The instrument used for data collection was face-to-face structured interview and online

    questionnaire. In our model we measured Brand Equity as what consumers hold in their head about a brand,

    and how that affects their behavior. A comparative study was done with four other competitors of CROCIN(Disprin, Combiflam, Voveron and Saridon) across the three metrics. At first comparative study was done forall the five brands of toothpaste for Consumer loyalty and Price Premium i.e. what consumers do or feel. Then

    it was done for leveragability in the same way and the brand equity index was thus calculated using thethree.

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    Analysis and Results

    Given below are the different findings for the brand equity measurement of our brand Crocin with

    competitors.

    Attribute Analysis

    We checked the importance of different attributes listed below for an OTC drug:-

    Non-drowsy formula

    Very effective

    No side effects

    Worth its price

    Is Trustworthy

    The importance of different factors is shown in the table.

    Non-drowsy formula 16%

    Very effective 22%

    No side effects 18%

    Worth its price 23%

    Is Trustworthy 21%

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    Crocin scores high on all the attributes.

    Loyalty Analysis

    We use the Colombo Morrison model to measure the loyalty of the brands. The findings of the data collection

    are shown below:-

    Brands Purchase 3 Purchase 2 Purchase 1 None Loyalty

    Crocin 6 3 3 5 29.03%

    Disprin 0 3 9 4 16.13%

    Combiflam 4 5 3 6 26.88%

    Voveron 0 3 9 10 16.13%

    Saridon 1 2 9 8 17.20%

    Then we assign weights to each purchase i.e. 3 for purchase 3, 2 for purchase 2, 1 for purchase 1 and 0 for

    none. Then we found the loyalty score for each of the brand. As we can see, the loyalty score for Crocin is thehighest among the brands but the score is not very high.

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    Price Premia Analysis

    Now we check the brands ability to charge a premium using the Van Westendorp Model. The question uses

    the following statements to test the price sensitivity of the brands:-

    Whatever it costs

    Even if it costs more than any other brand

    I wouldn't buy it at all

    Price sensitivity of different brands is shown below.

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    The ability to charge price premia is explained by the price premia index given below:-

    Disprin Combiflam Voveron Saridon Crocin

    0.2481 0.1269 0.1654 0.1865 0.3308

    Leveragability AnalysisThrough this analysis, we check the elasticity of the brand across the following categories:-

    Head ache syrup

    Water based drop

    Inhaler

    Medical information website

    Medical equipment

    Pain relief spray

    Energy drink

    The categories have been sub divided into two classes namely Associated and No relation

    Associated

    Head ache syrup

    Water based drop

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    Inhaler

    Pain relief spray

    No relation

    Medical information website

    Medical equipment

    Energy drink

    The scores for different brands across different categories is shown below:-

    Crocin with a score of 2.35 is the most elastic brand when compared to its competitors. But none of the 5

    brands are elastic enough to extend into new categories. Combiflam is the most inelastic brand.

    Among the categories, head ache syrup and water based drops is the most vulnerable while energy drink

    category is most inelastic.

    If the check the scores of the brands in associated and no relation category, Crocin is most elastic.

    Measuring Brand Equity Index

    Weights Metrics Crocin Disprin Combiflam Voveron Saridon

    0.333 Loyalty 0.2903 0.1613 0.2688 0.1613 0.1720

    0.333 Price premia 0.3308 0.2481 0.1269 0.1654 0.1865

    0.333 Leveragability 2.35 2.06 1.67 1.98 1.87

    BEI 0.9894 0.8223 0.6879 0.7681 0.7421

    Based on the values we have calculated, the brand equity index of Crocin is 0.9894.

    Brands

    Head ache

    syrup

    Water based

    drop Inhaler Pain relief spray

    Medicalinformation

    website

    Medical

    equipment Energy drink

    Crocin 3.525 3.5 2.35 2.5 1.8 1.875 1.675 2.35

    Disprin 3.05 2.925 1.975 2.2 1.775 1.5 1.4 2.06

    Combiflam 2.36 2.156 2.1 1.78 1.92 1.3 1.57 1.67

    Voveron 2.98 2.85 1.98 2.22 1.76 1.83 1.58 1.98

    Saridon 2.35 2.125 1.98 2.22 1.76 1.83 1.58 1.87

    BrandLeveragability

    score

    Associated No relation

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    Interbrand Model

    Focus on: Brand Strength

    Our experience shows that brands that are best placed to keep generating demand and profit into the futureare those performing strongly (relative to competition) across a set of ten factors, shown below.

    Four of these factors are internally driven, and reflect the fact that great brands start from within. The

    remaining six factors are more visible externally, acknowledging the fact that great brands change their

    world.

    Internal factors

    ClarityClarity internally about what the brand stands for and its values, positioning, and proposition; clarity, too

    about target audiences, customer insights, and drivers. Because so much hinges on this, it is vital that these arearticulated and shared across the organization.

    Commitment

    Internal commitment to brand, and a belief internally in the importance of brand. The extent to which thebrand receives support in terms of time, influence, and investment.

    ProtectionHow secure the brand is across a number of dimensions: legal protection, proprietary ingredients or design,

    and scale or geographical spread.

    Responsiveness

    The ability to respond to market changes, challenges, and opportunities. Internally, the brand should have asense of leadership and a desire and ability to constantly evolve and renew itself.

    External factors

    Authenticity

    The brand is soundly based on an internal truth and capability. It has a defined heritage and a well-grounded value set. It can deliver against the (high) expectations that customers have of it.

    RelevanceThe fit with customer/consumer needs, desires, and decision criteria across all relevant demographics and

    geographies.

    Differentiation

    The degree to which customers/consumers perceive the brand to have a differentiated positioning distinctivefrom the competition.

    ConsistencyThe degree to which a brand is experienced without fail across all touch points or formats.

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    PresenceThe degree to which a brand feels omnipresent and is talked about positively by consumers, customers, and

    opinion formers in both traditional and social media.

    Understanding

    The brand is not only recognized by customers, but there is also an in-depth knowledge and understanding ofits distinctive qualities and characteristics. (Where relevant, this will extend to consumer understanding of thecompany that owns the brand.)

    The weights which are assigned and the values which we got are as follows:

    Clarityweights assigned (10%)3.01

    Commitment - weights assigned (10%)4.11

    Protection - weights assigned (10%)3.98

    Authenticity - weights assigned (15%)4.35

    Responsiveness - weights assigned (10%)3.78

    Relevance - weights assigned (12%)4.12

    Differentiation - weights assigned (15%)3.52

    Consistency - weights assigned (5%)4.27

    Presence - weights assigned (5%)3.04

    Understanding - weights assigned (15%)2.89

    We check the brands across the components of the model on a 5-point scale. The score for each component isadded and divided by the maximum achievable value (50).

    To calculate the RBI (Role of Brand index), we add the component scores without assigning weights to it andthen it is divided by 50.

    To calculate the BSS (Brand Strength score), we add the component scores by assigning weights to it and then

    it is divided by 5.

    Crocin

    SUM(with weights) 3.9619

    SUM(without weights) 37.07

    RBI 74.14%

    BSS 79.24%

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    Recommendation

    BEI of the brand is not high due to its low loyalty index, price premia index. The brand is not alsoelastic to leverage its ability to extend into new categories.

    It has not understood the customer well which would otherwise have added value to the brand

    Brand needs to increase the loyalty among the customers which is only possible by brand awarenessand differntiation.

    But relatively crocin is doing well, it should try and maintain its hold in the market.

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    BRAND VALUE MEASUREMENT

    Calculating Economic Value Added

    Now lets calculate the Brand Valuation of the selected brand.

    (As balance sheet for Crocin wasnt available we did the Brand Valuation of its parent company GlaxoSmithKlinePharmaceutical Limited, India)

    (Amounts in Rupees Lakhs)

    GlaxoSmithkline 2013 2014 2015 2016 2017 2018

    Revenue from

    operaons256,269.27 281,896.20 310,085.82 341,094.40 375,203.84 412,72

    Expense 205,435.03 223,924.18 244,077.36 266,044.32 289,988.31 316,08

    EBIDTA 50,834.24 57,972.01 66,008.46 75,050.08 85,215.53 96,636

    Tax (33%) 16,775.30 19,130.76 21,782.79 24,766.53 28,121.12 31,890

    NOPAT 34,058.94 38,841.25 44,225.67 50,283.55 57,094.40 64,746

    Capital 165.51 182.06 200.27 220.29 242.32 266.56

    Capital WIP 6,186.01 6,742.75 7,349.60 8,011.06 8,732.06 9,517.

    Intangible

    Earnings4,214.97 4,636.47 5,100.11 5,610.13 6,171.14 6,788.

    Role of Brand

    Index74%

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    Branded

    Earnings3,124.98 3,437.48 3,781.22 4,159.35 4,575.28 5,032.

    Brand Strength

    Score79.24%

    Brand Discount

    Rate

    6%

    Discounted

    Brand Earnings

    2,937.48

    3,231.23

    3,554.35

    3,909.79

    4,300.76

    4,730.8

    NPV of (1-5

    Years)

    18,277.04

    Long Term

    Growth Rate

    2%

    Brand Value

    beyond 5 years

    2,365.42

    Total Brand

    Value20,642.47

    Assumptions:

    As balance sheet for Crocin wasnt available we did the Brand Valuation of its parent companyGlaxoSmithKline Pharmaceutical Limited, India

    RBI and BSS values considered same for Crocin and GSK

    Growth rates projected are as per report by McKinskey

    Discount rate has been found referring to S Curve of Brand Risk rate vs Brand Strength Score.

    Based on the above assumptions, brand value of GlaxoSmithKline Pharmaceutical Limited, India isRs.

    20,642.47Lakhs.

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    APPENDIX

    Questionnaire 1

    1. Name:

    2. Gender:

    3. Occupation:

    4. Age:

    5. What are the 2 brands that come to your mind when you think of over-the-counter (OTC) drug for

    headache/body ache?

    6. What are the 2 brands that come to your mind when you think of over-the-counter (OTC) drug forcough n cold?

    7. What are the 2 brands that come to your mind when you think of over-the-counter (OTC) drug for pain

    relief?

    8. What are the 2 brands that come to your mind when you think of over-the-counter (OTC) drug forfever?

    9. Which pain relief medicine do you use?

    a. Crocinb. Disprin

    c. Combiflamd. Voveron

    e. Saridon

    10. What do you think is very important when you buy an OTC drug? Please rank (1st to 6th) the

    following:

    a. Priceb. No side effects

    c. Effectiveness

    d. Non-Drowsy Formulae. Qualityf. Trust

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    11. Based on the brand you use, please rank the following (1-6):

    a. Priceb. No side effects

    c. Effectiveness

    d. Non-Drowsy Formulae. Quality

    f.

    Trust

    12. If you consider Crocin as a brand, rate the following attributes in order of preference:

    1 2 3 4 5 6

    Price

    No side effects

    Effectiveness

    Non Drowsy formula

    Quality

    Trust

    13. Which is the medicine brand, you will recommend your friend for pain relief?

    a. Crocin

    b. Disprin

    c. Combiflamd. Voverone.

    Saridon

    14. Which brand do you think is popular?

    Strongly

    Agree

    Agree Neutral Disagree Strongly

    Disagree

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    Crocin

    Disprin

    Combiflam

    Voveron

    Saridon

    15. What will you buy if Crocin is out of stock?

    a. Purchase a different brand

    b. Purchase it from a different storec. Delay purchase

    Questionnaire 2

    1. Name:

    2. Gender:

    3. Occupation:

    4. Age:

    5. Which brand would u associate with the following attribute?

    Price No side

    effects

    Effectivenes

    s

    Quality Trust Non-drows

    formula

    Crocin

    Disprin

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    Combiflam

    Voveron

    Saridon

    6. Out of the last 5 purchases, how many times have you purchased the following brands?

    Purchase 1 Purchase 2 Purchase 3 None

    Crocin

    Disprin

    Combiflam

    Voveron

    Saridon

    7. If the following brand enters into the following categories, how would u rate your acceptance?

    Head ache

    syrup

    Water based

    drop

    Inhaler Medical

    information

    website

    Medical

    equipment

    Pain relief

    spray

    Energy d

    Crocin

    Disprin

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    Combiflam

    Voveron

    Saridon

    8. Kindly tell us which of the following statement describes how likely it is for you to buy a strip of

    Crocin (15 tablets).

    Whatever it costs Even if it costs more than anyother brand

    I wouldn't buy it at all

    Crocin

    Disprin

    Combiflam

    Voveron

    Saridon

    9. With respect to Crocin answer the following questions

    StronglyAgree

    Agree Neutral Disagree StronglyDisagree

    Crocin has a high reputation

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    Crocin is a prestigious brand