Evaluation of brand from the perspective of consumers

Abstract

Brand is extremely important intellectual property of a company. In order to attract new customers and keep as many existing ones, companies have to work continuously to improve the brand value, which ultimately leads to the market share, revenues and profits growth. The aim is to explore how certain aspect of brand value influences the preference of a brand. In order to fulfill these objectives, certain types of descriptive statistics measures were used, together with reliability analysis, correlation and regression analysis. The results show that statistically there are two dimensions of brand value which effect increase of the level of preference - interpersonal relations and comparative advantage of the brand. On the other hand, understanding of brand and its history, doesn't have statistically significant effect. Results of these conducted studies may help company's management when formulating the appropriate management's framework of the brand in order to increase brand preference, which ultimately may lead to improving the competitive position of the company.

Keywords

• dimensions of brand value
• brand value measurement
• brand preference