Study of the essence of brand management in the marketing management system of the enterprise

Abstract

Nowadays, in the conditions of the globalization of product markets, it is not difficult to reproduce the innovations of competitors and create products that are not inferior in quality to the best world samples. If earlier the goods differed in functional and technological properties, that now the way of their differentiation is the brand. Accordingly, increased market competition encourages entrepreneurs to pay more attention to branding strategies and the use of effective brand management in management as an element of self-identification and positioning. Modern brands are important components of economic activity, symbols of commercial activity, which occupy an important role in consumer consciousness, evoke a whole set of associations and images, and, unlike goods, are formed not in production, but in consumer consciousness, providing an emotional connection between their perception and functionality. The article defines the essence of brand management, as well as its functions, tasks and elements in the marketing management system in the conditions of transformation of modern market relations. The need to apply brand management, branding and its derivatives in the concept of marketing is considered. The special functions of brand management under the conditions of marketing management within its elements are highlighted. It is noted that one of the problems characteristic of global branding is the presence of similar terms that are interpreted differently, despite the fact that terminological confusion creates serious difficulties in the field of theory and practice of its application. Until recently, the concept of «brand» was not used in economic science and was replaced by the narrower concept of «trademark» or «enterprise image», so the article separately considers such concepts as «enterprise brand» and «enterprise image» and substantiates their difference. It was determined that activities in the field of brand management implement both common functions of enterprise management (planning, organization, motivation, control) and specific functions (marketing research, innovation management, management of a set of brand attributes, management of the brand life cycle, management of brand competitiveness). As a result of the study, it was concluded that brand management in the marketing management system is a managerial activity aimed at creating a long-term competitive advantage of the company's brand and is based on strengthening the action on the immediate environment of the company with the help of communications and effective positioning.