Keywords: sustainable development, economic instruments, perceived brand value, Brand Potential Index, food industry, Croatia, sustainability, competitive advantage, brand evaluation, sustainable innovation, brand recognition, brand confidence
Brand value as an element of sustainable competitive advantage
The conceptualisation and measurement of brand value, including its sources and outcomes, are a challenging task, particularly in a global marketplace. In contemporary marketing research, there is a general consensus in marketing and management theory that tangible resources of the organisation can play a crucial role in sustainable competitive advantage creation. This paper presents research results in the process of brand evaluation concerning relations between selected economic instrument and sustainable innovations. During present quantitative research we have discovered the key drivers that have the greatest influence on the brand value. Basing on the results of the present research, we have determined that brand A (market leader) has a good chance to retain the leading market role of its brand by maintaining the quality and tastefulness of its products, as well with the right price strategy, as well with good promotion strategy to retain the high brand recognition and high brand confidence.