Achieving the competitive advantage on the market is one of the basic business challenges for the market oriented companies. In order to attract the greatest possible number of customers there is a need to create value which shall be recognized by the customers as a superior or a greater one in the process of estimating alternatives compared to the competitive options. Brand is one of the most important determinants in creating value for the customers. Brand is a complex category and during the analysis of its influence onto the value creation it is needed to take into account its different dimensions. In accordance with the concepts of numerous studies in the area of marketing and customer management the influence of brand on value creation for customers is regarded via four main dimensions-brand awareness, developed brand loyalty, brand trust and the possibility to recognize the expected quality and meaning of a certain brand product. The paper uses a research model which encompasses all four brand dimensions and analyzes their influence onto the customer value creation. The empirical research has been carried out on a sample of 174 respondents in Serbia. Based on the gathered empirical data a significant brand dimension for the customers in Serbia has been identified. Based on the gained research results a difference has been tested in the importance of different brand dimensions for men and women. The paper offers significant theoretical and practical implications which indicate what brand dimensions need to be emphasized in the process of product and service branding and to which extent every one of them contributes to the customer growth value. Also, a brand dimension has been identified with a different influence on creating value with men and women, which is an important implication for the marketing strategy.