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

University of Zilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics, Univerzitna 1, 010 26 Zilina, Slovak Republic

^* Corresponding author: jana.kliestikova@fpedas.uniza.sk

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.