THE ESSENCE OF THE CONCEPT OF BRAND MANAGEMENT AND ITS ROLE IN THE ACTIVITIES OF ORGANIZATIONS

Abstract

Today, for any business or organization, building and developing a good relationship with the target market is crucial, as it ensures that their products (goods or services) will remain relevant in the minds of consumers. An important role in ensuring this effect is played not only by the process of creating the company's brand, but also by maintaining and developing the brand, that is, brand management.

Many scientists and specialists in the field of promotion have certain differences in the interpretation of the concept of "brand management". Some of them adhere to the concept that brand management is a general concept, and branding is its integral component. However, some scientists distinguish these concepts and believe that branding involves the creation of a brand, and brand management - its maintenance in the future.

Today, in global practice, two main models of brand management are used, which are the basis of the construction of all branding activities of the enterprise - Western (European-American) and Eastern (Japanese).

The Western model is based on a concept based on the differentiation of certain types of products (or services provided by an enterprise), according to which goods (services) are endowed with certain functional and emotional distinctive features.

The Eastern model is the most common and involves focusing brand management on the corporate brand. This model is more aimed at the loyalty of those consumers who care more about brand advertising than the features of products or services. According to the Eastern model, the entire activity of the enterprise is regulated by the main brand.

Creating a corporate brand has become a strategic step, which is implemented at the highest level of management. A corporate brand is not just an identification of the company's brand, it actually represents the core values, ethics and principles that the company supports in relation to its business and consumers. To a large extent, the corporate brand is also an indicator of the company's culture and reputation.

Maintaining the core value of the brand and its image rests with the company’s management and functional managers. In recent years, the brand manager's job profile has undergone significant changes and development. Today, brand managers are responsible for the overall business and are required to ensure an adequate return on investment. Technological changes, the competitive nature of open markets and globalization have changed the rules of brand management and consumer behavior