Bìznes Inform (Jan 2024)

The Role of Brand Management in Shaping the Image of Ukraine as a Business Partner: Impact on International Perception

  • Hoi Nataliia V.,
  • Vader Tetyana M.,
  • Medynska Tetiana I.

DOI
https://doi.org/10.32983/2222-4459-2024-1-404-410
Journal volume & issue
Vol. 1, no. 552
pp. 404 – 410

Abstract

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The aim of the article is to study the role and significance of brand management as the basis for the development of State values in the market. In modern marketing and in the conditions of competition in the market, topical issues are the development of the brand as an important marketing tool that plays a leading role for companies and the State in general in the Ukrainian and international markets. The visual appeal of products and services makes a primary impression on consumers, and therefore the priorities of the brand development strategy are obvious. Understanding the terms «brand» and «brand management» allows you to effectively apply these marketing tools in practice. In the new global digital economy, brands, in cooperation with management, make up a large part of the value of the company itself and a significant source of income. The brand is a challenge of the present and the future and is a mechanism for managing several areas at once: marketing, social, and economic. In today’s international environment, the interaction of brand and management is developing intensively, adapting to rapid changes in the world market and the introduction of information and communication technologies. For the effective functioning of marketing and development of Ukrainian companies that are focused on the market and influence the economy, it is necessary to consider in detail the issue of the functioning of the brand as an innovative tool both at the theoretical and practical levels. In particular, important components are the direct implementation of this mechanism, the list and content of the main stages of application, signs and types, the use of the dynamics of growth of indicators in both the domestic and the international markets. This study presents the features of the use of an innovative brand tool, which are the needs of modern companies, their specifics, overall impact, and also makes forecasts for the future. The use of brand management has a positive effect on the functioning and presentation of Ukraine in the market.

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