Advertisement Expenditures,Brand Equity And The Outcomes Of Financial Market

One of the most valuable assets for any firms is the intangible asset represented by its brand, this concept has fast developed in 1980s', accompanied with the enterprises' acquisition and combination. With the development of economic, brands has great effect on companies' competition. Nowadays its important to properly manage brands to maximize their value-or brand equity-to the companies. Build brand equity management system requires knowing the real value of the brand equity, especially the financial information contained and the probably influence on the financial market. Based on literature review about the financial value of brand equity in foreign country, according to the "brand value chain" brought up by Keller and Lehmann, the author investigates the possibility relationship between the marketing program investment, especially the advertisement investment and the output on financial market. And build the model between the advertisement and the return of stock and investment in order to test the association.We also consider the effect of the different degree brand equity, and suggest the high brand equity may cause greater effect than the low brand equity in the same conditions. The results of factor analysis and linear regression analysis indicate: (l)The advertisement cost has great influence on the financial index. (2)The consumer -based brand equity did contain financial information and impact the stock return. (3)The affect is different in terms of the different brand's, the greater brand cause greater influence.