Motion to innovation: Brand value sources have (not) changed over time

Jana Kliestikova,Maria Kovacova,J Váchal,J Horák,M Vochozka

doi:10.1051/shsconf/20173901010

Abstract

Innovation drives the expansion of economies in a global dimension. This is also the reason why contemporary researches indicates the trend of incorporation of the innovation to the strategic concept of brand value building and managing. It has been proven, that innovation is relevant source of brand value perceived by consumers. Such a trend has been established in reaction to the growing importance of brand value for competitive advantage creation in a global perspective. Currently published scientific contributions mainly highlight the importance of brand innovation in selected sectors of national economies abstracting from innovation perceptions due to the national socio-psychological profile. This is the reason why universally applicable theory of innovation in scope of brand value building and managing is missing. The lack of the theory can be removed by identification of importance of innovation attributes as brand value sources in context of market specifics. So, the aim of this paper is to provide such an identification and to verify existence of divergences between “foreign” theory and “domestic” practice. To do that, we use questionnaire, selection analysis and cluster analysis. We detect specifics of brand value perception focusing on innovation and its attributes comparing theory and reality of Slovak environment.

Highlights

The concept of brand value building and management changes dynamically despite practical experience of brands which have been well known over the world has shown that this part of managerial theory should be applied selectively and without time pressure
In accordance with results of hypotheses testing, we can conclude that 1) the presence of innovation has an impact on perceived brand value and 2) the character of sector has an impact on brand innovation
We declared the importance of innovation in scope of brand value building and management in Slovak republic as well as the heterogeneity of its appearance across sectors

Summary

Introduction

The concept of brand value building and management changes dynamically despite practical experience of brands which have been well known over the world has shown that this part of managerial theory should be applied selectively and without time pressure. It is because theory recommends it as a possible source of subjectively perceived brand value, the longstanding practice of brands proves that more than changes, consistency is connected with brand value growth [2]. Possible reason of this fact is, that brand value is very fragile and each inappropriate intervention often raises unpredictable fluctuations in it. It is very important to: 1) detect strength of influence of innovation phenomena on branding practice worldwide; 2)

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Conclusion