Brand Value and the Factors Affecting It
A brand is one way to distinguish products from each other, while simplifying consumers’ decisions in choosing an appropriate product. However, sustaining and improving a brand’s position in the market is not a simple process. This chapter discusses the essence of a brand, brand value, approaches to brand valuation, and the factors affecting brand value. As an example, the chapter includes a determination of the impact of advertising costs on brand value through linear dependence (correlation analysis). The results show that a company’s advertising and brand value are linearly independent. Brand value is therefore not primarily dependent only on the level of advertising costs; rather, it depends on other factors as well.
This chapter is based on the the science project APVV-15-0505, "Integrated model of management support for building and managing the brand value in the specific conditions of the Slovak Republic.”
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