Management of market differentiation: Brand management

Abstract

When it comes to buying a product, the brand is an important factor in reaching the final decision because it is a special value for consumers. Three different dimensions are used when permeating a brand because in this way they influence the creation of value for consumers. The goal of the work is to find the answers that are the most significant forms of value creation that are presented to consumers through the brand. Brand recognition as its significant dimension affects the increase of created value for consumers. A brand is defined and has been defined in many different ways over the years, depending on the perspective from which the brand is perceived. Often it depends on the academic background of the author/creator of the various definitions. In the classic definition, a brand is related to product identification and differentiation from competitors, through the use of a specific name, logo, design or other visual signs and symbols.

Keywords

• company
• brand
• competition
• strategy