Knowledge as an important factor in the process of creating brand equity Online publication date: Wed, 12-Aug-2020
by Tina Vukasović
International Journal of Innovation and Learning (IJIL), Vol. 28, No. 2, 2020
Abstract: The paper's contribution is to present the importance of implicit and explicit knowledge in the process of creating brand equity. Knowledge is the most important factor of competitiveness and factors such as capital, financial assets or labour force are proving to be less important. Companies utilise and transfer knowledge to processes and activities aimed at creating high-value brands, thus increasing their competitiveness. A strong and trusted brand provides the company with competitive advantage and in order to achieve it, employee knowledge is required. This paper investigates the role of knowledge in the process of creating brand equity in the studied company and to develop and coordinate the development and practice of implicit and explicit knowledge in the process of creating brand equity. The results of the survey have shown that they have the required implicit and explicit knowledge which plays an important role in creating brand equity.
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