Comparative analysis of brand management strategies

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The article presents the results of the analysis of three main strategies included in the brand management system. Brand management involves the development of a long-term plan that describes in detail the formation of strategic images and brand image, the expected dynamics of its brand development, and the response to changes in the external environment, market and consumer perceptions. Management strategies are used to achieve key brand development goals. First of all, branded products must be unique and differ favorably from competitors' products, which today is quite difficult in the context of globalization. Strategic brand management allows you to solve this problem by analyzing the market situation and using unusual methods to attract the attention of consumers. In order to increase the value of the product, it is necessary to build an emotional and trusting connection with the contact audience. A finely built emotional connection allows you to find a client who is not only suitable for the product, but also who will recommend it to his closest environment. When branding creates an emotional connection with customers, it allows you to increase market share, get more value for money, and grow your brand. In the face of tough competition in today's markets, it is very difficult for new brands to occupy a profitable niche. But it is worth remembering that the promoted brands gained popularity thanks to certain strategies that will be very effective today. Brand management includes three, interconnected in a single complex, strategies: brand promotion strategy, brand advertising strategy and brand positioning strategy. Many businesses and organizations, while recognizing the value and positive impact of a strong brand on sales, are rather vague about their brand strategy and future development. It is worth remembering that strategic brand management is necessary not only when a new brand is being created, but also in those cases when it is necessary to revive or renew an existing trademark.

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Promotion strategy, brand, advertising, strategy, brand positioning

Короткий адрес: https://readera.org/140257345

IDR: 140257345   |   DOI: 10.20914/2310-1202-2021-1-343-352

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