The role of the brand in the enterprise sustainable development

Abstract

In today's competitive environment, the brand is one of the main prerequisites for effective development of the enterprise, allows to ensure the fulfillment of social obligations to employees and society, identify products or enterprises, acts as a guarantor of product quality, forms a positive image of the business entity. This necessitates the study of theoretical and practical experience of the possibilities of using the brand to increase the competitiveness of the business entity. Another factor that determines the relevance of this study is the limited practical experience in brand management by domestic companies in the globalization of the economy. The goal of the research is to establish the role of branding in improving the efficiency of domestic enterprises. The key tasks include: outlining the characteristics of the enterprise sustainable development; determining the degree of the brand influence on the business entity effectiveness; consideration of the order of interrelation between branding and social responsibility in modern conditions of competition; proving the importance of brand identity, by detailed coordination of personalization. The research methods were: monographic, comparison, analysis and graphic. It is determined that the main prerequisite for sustainable development of domestic enterprises in the context of economic globalization, limited resources, technology development is the process of brand management. The brand will be one of the main competitive advantages of businesses in the future. Priority will be given to the demand, simplicity and "humanity" of the brand, rather than technology. It has been proven that in order to protect the reputation of its brand, a business must recognize that its success requires a holistic approach to promoting its product or service, including greater social responsibility. A company's reputation and corporate affiliation often affect an entity's ability to operate outside the country or to influence consumer behavior. Prospects for further research in this area are the application of a holistic approach to branding: from brand development to the implementation of marketing programs. It is advisable to study the impact of internal and external environment on the effectiveness of the brand.