EVOLUTION OF THE CONCEPTUAL AND CATEGORICAL APPARATUS OF BRANDING: FROM TRADITIONAL CONCEPTS TO MODERN VISION

Abstract

The article examines the evolution of the conceptual and categorical apparatus of branding, in particular its development from traditional concepts to a modern vision. An analysis of the main approaches to brand definition, brand management and its impact on the competitiveness of enterprises in modern market conditions has been carried out. Special attention is paid to the transformation of approaches to branding under the influence of digital technologies and globalization. The article emphasizes the importance of innovation in brand development and its strategic management, which ensures adaptation to changing consumer demands and market conditions. It is noted that in modern business conditions, the brand is a key source of corporate competitiveness, as well as an important tool for retaining existing customers and attracting new ones. It is emphasized that the success of the business depends on strong long-term relationships with customers, which directly contributes to the growth of profitability. It is emphasized that customers who associate the brand with a certain product or manufacturer receive additional benefits from this interaction. It is emphasized that creating a brand is one of the ways to add and realize the unique value of a product, service or organization. It is emphasized that in order to maintain competitiveness in terms of price indicators, managers usually take measures aimed at increasing market share and reducing costs. It is justified that the brand reflects not only the object of sale, but also the essence of the company, its activities and core values. It is emphasized that thanks to effective branding, the company can reduce marketing costs, increase profitability through the use of higher prices, strengthen the corporate image and facilitate the entry of new products into the market. Thus, branding becomes an indispensable tool for achieving sustainable development of the enterprise and its successful adaptation to changing market conditions.