Brand value creation: different approaches from consumers, companies and brand communities

Abstract

The aim of the article is to reveal brand value creation from different points of view: consumers, companies and brand communities. The literature analysis suggests the brand value has become an important metric for brand health for consumers and corporate performance metric for many companies and investors. However, the increasing consumer power, accelerated social media, marketing promotion companies threaten the foundations of brand value. This article focuses on the conceptual model and the empirical study to examine the importance of factors influencing brand value creation in Lithuanian companies. The article was prepared by using a comparative analysis of scientific literature, integrated brand value creation model, empirical results from expert interview from Lithuanian companies and the author insights on this topic. Research question: what is the result of co-creation of brand value from consumers’ companies’ and brand communities points of view? This paper is in line with directions for future research and previews for setting up a brand value creation and measurement system in Lithuania.