FEATURES OF THE FORMATION OF THE BRAND ENTERPRISES AS A FACTOR OF INCREASE IN THEIR COMPETITIVENESS

Abstract

The article examines the peculiarities of the formation of brands of state and private companies, analyzes their activities in modern economic conditions and determines the differences that affect the process of brand formation. Different levels of brand significance arise from the peculiarities of the functioning of enterprises in the modern economic environment. The activities of enterprises of various forms of ownership are aimed at determining and satisfying the needs of consumers. An important condition for survival on the market is the provision of competitive advantages in the activities of enterprises. The concept of a brand determines the competitive advantages of each product and the specificity of their perception by consumers. Currently, private companies have a sustainable brand management system that combines various aspects of marketing, innovation, sales and internal management of the company according to the wishes of consumers. In this context, brand management plays an important role, possessing its own tools and methods that are applied at the level of strategic, tactical and operational management. Each of the aspects is aimed at achieving specific goals within the overall branding system. For state-owned enterprises, the introduction of branding has numerous obstacles, and the success of ensuring their competitiveness is determined by the understanding of the relevant government structures of the importance of orienting the activities of enterprises to the needs of consumers. Thus, the following aspects can be singled out among the key advantages of the brand: additional income growth; simplified product selection procedure; establishing the identity of the manufacturing company and its products; easier penetration into new markets with a fresh range of products; more convenient partnership with employees; investing in future opportunities; establishing an emotional connection with the buyer; promoting the development of industries where brands operate; creating history and providing reputation. The article proposes measures to ensure the competitiveness of both public and private organizations by implementing brand management strategies.