JEL classification: M31; O24
Introduction. Changes in business conditions necessitate the use of new approaches to strategic management to ensure the development of a commercial enterprise. This is necessary for making rational decisions, increasing the coordination of management processes, increasing the efficiency of the trading company in conditions of increased competition. An important element of the strategic development of a commercial enterprise is the use of brand management.
The purpose of the research is to substantiate the role of brand management in the strategic development of commercial enterprises.
Results. The importance of the strategic aspect in the activity of a trade enterprise is revealed. The reasons for unsuccessful implementation of the strategy by trade enterprises are described. The role of the brand in ensuring customer loyalty is substantiated. The purchasing advantages of the brand, which are provided by the presence of the brand, are determined. The main sources of brand value formation are described (experience of use, user perception, persuasiveness, external aspect, name and reputation of the manufacturer, emotional grounds). The functions of the brand (determination of the position of the brand among competing brands, practicality, guarantee, optimization, personalization, consistency, aesthetics) are presented and the expediency of its use in the activities of a commercial enterprise is substantiated. The importance of brand individuality is noted and its essence and components are characterized. The necessity of forming consumer confidence in the brand of a trade enterprise is substantiated. It is proved that the use of the brand provides the formation of competitive advantages of the trading company in the market.
Conclusions. The role of brand management in the strategic development of a commercial enterprise is substantiated. The features that need to be taken into account in the process of forming a brand strategy are identified. There is an active growth of supply in the market of goods and services, which causes trends in the role of consumers in the activities of domestic enterprises.
Key words: brand management, strategic development, strategic management, strategy, trade enterprise.
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The article was received 15.03.2020