METHODOLOGICAL PRINCIPLES OF BRAND CREATION

Abstract

The article is devoted to the features of brand creation, its importance for enterprises. The functions of brand management are studied and described, existing brand strategies and brand promotion tools are considered. The step-by-step process of brand creation is described. Its practical value and importance for enterprises are indicated.Until recently, product quality was considered very important, but when the market is flooded with dozens and hundreds of high-quality products and services, quality in itself is no longer a competitive advantage. When buying a product of a particular brand, consumers want to buy an idea that is close to them or that they want to try. Experts consider branding not only a measure of communication between producers and consumers, the purpose of which is to increase sales and profit, but also a new culture, religion, science and art.The concept of "branding" has not yet had time to firmly enter the minds of Ukrainians. For many, this is nothing more than creating a label, logo, and bright packaging for a product. In fact, this concept is developed more widely, if used correctly, it can become an effective managerial branding, a long-term investment in business development that will pay off in the future. A brand or brand is a set of concepts that generalize people's ideas about the relevant product, service, company or person. Widely used in marketing and advertising, however, it is a financial concept. Effective company branding requires the implementation of the main stages, which include analysis, development of the brand concept and design. A brand defines a company to distinguish it in the market, show its strengths and protect it from competition. This is one of the key success factors – the brand is the essence of the company's image and visibility. Being able to control both aspects simultaneously and create synergy between them gives your company a huge advantage over competitors who are not yet actively promoting their brand. Gets more orders with a big markup. A good brand in Ukraine and abroad is a valuable asset for a company and an individual specialist: it attracts attention, is rich in content and has a clear message. As a result, it is easy to remember, which turns into a top brand and leads to company growth. The relevance of this topic determined the direction of this research and confirmed its reliability. The proposed results can be used by enterprises to build their own brands and attract additional resources with their help.