Financial-based Brand Value of Incheon International Airport

Since brand is recognized as one of the most significant intangible assets to firms, branding strategy has become a top management priority. To stay competitive in the global economy, airports are required to identify their own brand value accurately for better management. While there are a multitude of studies using marketing approach, few studies have attempted to quantify the airport's brand value with a financial technique. Therefore, this paper aims to investigate the brand value in the airport context focusing on Incheon International airport (ICN) by comparing it with one of other international airports (i.e., NRT, PVG, HKG, SIN, AMS and CDG) using sales of each airport. The result shows that ICN has the fourth highest brand value among them, which demonstrates the need to improve its competitive advantage through effective branding strategy. Based on the findings, managerial implications are suggested.