Main Article Content
Introduction. Today, branding is an important aspect that must be highly considered, when formulating a development strategy of any enterprise, because it connects with the target audience, it contributes to a number of goals for socio-economic development, and reflects, to some extent, individuality of business. Such a process as brand development helps to increase the level of competitiveness of the enterprise. In general, the brand has a positive effect on increasing profits, sales, consolidation in a particular segment due to its uniqueness and preferences of customers.
Purpose. The purpose of the article is to substantiate the concept of brand evolution, develop a classification stages of brand development, identify weaknesses and growth points of marketing communications of enterprises.
Results. Defining the role of branding guarantees significant attention from consumers, increasing sales, increasing the importance of products, improving the brand market, rapid adaptation to the preferences of the target audience, successful operation and competitiveness. A clear delineation of branding tools ensures the construction of an effective brand management strategy. Effective branding at the enterprise is able to provide a number of competitive advantages: reduction of promotion costs due to brand awareness; increase profits due to setting higher prices for goods or services; strengthening the corporate image; simplification of market promotion of new products.
Conclusion. Branding is an art built on deep market knowledge. In order to create a quality brand, you need, in addition to time, effort and capital, also talent. After all, brands are not subject to time, many of them have outlived their products, and now are positioned differently. But the brands themselves have survived and continue to exist and benefit the companies that own them.
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