Strategic Brand Management: Conceptual Basis (original) (raw)

2020, CHERKASY UNIVERSITY BULLETIN: ECONOMICS SCIENCES

The article substantiates the concept of strategic brand management, emphasizes on the direction of brand growth in the long-term prospects. The study discovers that this process involves planning, executing, controlling of marketing and branding strategies, applying for measures of building, measuring and evaluating of brand equity. The basic stages of the evolution of strategic brand management concepts have been formed, the functions and the basic principles of brand management have been discovered , the effective use of which provide the company with additional sales and profit maximization. Along with basic management functions such as planning, organization, leadership and control, brand management uses its own tools, including specific methods and principles, specific models, organizational forms of brand management. Emphasis is placed on the expediency of applying a set of specific methods implemented by specialists in the strategic, tactical, administrative and organizational management of company brands. Keywords: brand, branding, brand management, strategic management of a brand, brand management model, marketing strategy. Introduction. Today strategic brand management is used by companies to support and promote the brand and gain worldwide recognition. The brand activity in the long-run period. This includes an integrative and sustainable policy that helps companies to build, develop and manage their brands. Therefore, the role of strategic brand management and the evolution of generating, development of strategies continues to be relevant today. Literature review. Famous domestic and foreign scientists, such as D. A