You could split the path and make a check if the following element exist. If not assign an object to the new property.
Return then the value of the property.
At the end assign the value.
function setValue(object, path, value) {
path = path.replace(/[\[]/gm, '.').replace(/[\]]/gm, ''); //to accept [index]
var keys = path.split('.'),
last = keys.pop();
keys.reduce(function (o, k) { return o[k] = o[k] || {}; }, object)[last] = value;
}
var data = {};
setValue(data, 'location.degree.text', 'sometexthere');
console.log(data);