Strategic Brand Management in the Market

Abstract

The modern market is characterized by ups and downs associated with both external negative influences and expectations, and with the structural restructuring of the market. The result of these transformations was the transformation of the methodological and practical foundations of the formation, functioning and development of marketing and advertising activities, the leading role among which is the development and management of the company's brand.The development and management of a brand, or the branding process in an enterprise should be strategic and holistic. The authors studied the theoretical basis for the development and promotion of a brand to the market and proposed directions for its improvement: an algorithm for creating a brand strategy and a comprehensive scheme for forming a strategy for the development and management of an enterprise brand. To assess the effectiveness of the brand management strategy, the authors proposed a system of indicators characterizing the process of brand development and management based on the BEES model, as well as a brand health diagram. The adequacy of the implementation of the proposed scheme for the formation of a strategy for the development and management of a brand of an enterprise is based on the fulfilment of specific requirements for an enterprise developing a brand, in particular, for the efficiency of the branding unit in its structure, forms and methods for assessing the rationality of management decisions, as well as for organizational and economic model of the enterprise in the market.

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