Brand as a key intellectual property value from the consumer perspective

Abstract

The purpose and object of this paper is to explore the essence of the concept of value and brand valuation as important intellectual property of an enterprise and to identify the key elements for managing its value in order to retain the existing and win new customers, to increase the market share, sales revenues, profits, and eventually to contribute to the increase of the enterprise value and the level of overall business competitiveness. The aim of this paper is to identify, based on the analysis of different methodologies for valuing brands from a consumer perspective, their strengths and limitations in order to improve and facilitate their application in the practice of enterprises and specialized marketing agencies. The methods of analysis and synthesis were used in the research. The structure of the paper consists of several units. First, the concept of brand and brand value is explained. After identifying the dimensions of brand value, the author's attention is focused on the direct and indirect methods for determining the value of the brand to consumers. The results of this research reflect in identified strengths and limitations of the analyzed methodologies for valuing brands, as well as recommendations for their practical application. The above results of research are aimed at the improvement of certain methodologies and their effective choice by the marketing managers in order to identify the brand value and manage it, with a view to increase intellectual capital and improve competitive position of the enterprise. .