BRAND MANAGEMENT IN THE SYSTEM OF STRATEGIC BUSINESS MANAGEMENT

Abstract

Introduction. Active technological development, increased access to information, and changes in consumer preferences make brand management an important strategic component of business success. The necessity of developing and implementing effective brand management to foster consumer loyalty and ensure brand capitalization as intangible assets of the company emphasizes the relevance of the research topic. The purpose of the article is to assess the peculiarities of brand management, provide recommendations for the formation and development of successful business brands, and explore the role of brand management in the context of strategic business management to create a competitive enterprise. The research methods applied in this work encompass a combination of general scientific and specialized research methods, such as logical generalization, observation, analysis of statistical data, systemic analysis, and scientific abstraction. In today's business environment, brand management requires consistency and systematicity, comparable to the creation of a new product. This process includes stages of planning, designing, forming, managing, controlling, and, undoubtedly, implementing a set of universal requirements that guarantee the success of the entire enterprise. To conclusion, brand management encompasses various aspects such as the development of a clear brand strategy defining the brand's mission, goals, and values; developing strategies for sales, pricing, and brand positioning to achieve financial success; building relationships with the audience; considering opportunities for expanding the product or service line and entering new markets. A comprehensive approach, which can be proposed as a generalization of this article, consists of key elements such as developing brand style, forming consumer brand values, brand positioning, striving for excellence in advertising, maintaining consistency in brand management processes, enhancing brand market strength, and investing in the brand. All these factors will ensure a favorable market position, a loyal customer base, and ultimately profitability for the business.