The orgin of brand value creation is consumer attitudes towards the brand, and the result of owning powerfull brand is the increased shareholders value. In vast majority of cases these two aspects are analysed sepatately, however, we see a need of looking at that as undivided. This is due to the fact that brand value does not depend only on the consumer’s behaviour. It has much to do with a market situation and the owners’ behaviour, therefore, it is crucial to conceptualize brand value creation process and develop adequate quantitative methods of measuring brand value.