• Olha Kovalchuk
Keywords: brand, branding; trademark; brand management; principles of brand management


The high degree of technology development has reoriented modern business to the competition of brands, the strengthening of which provides enterprises with significant advantages in the market. Modern brands are important elements of the enterprises' activities. As symbols of commercial activity they occupy a significant place in consumer consciousness and cause a holistic set of associations and images.
The purpose of this article is to review the existing theoretical material concerning the substantiation of the brand and brand management and to formthe a holistic definition of the concept of «brand».
The article deals with the concept of brand, branding and brand management. Several aspects of the "brand" interpretation are considered and an attempt to organize the approaches to the definition of "brand" is made. The main problems of presentating the planned image of the brand to the consumer are highlighted.
In the article the concept of "brand values" is considered separately. The brand management system and brand management principles are demonstrated. As a result of the research the brand positioning strategy is presented.
On the basis of the analysis, the essence of the concept of the brand is defined as a trademark characterized by a high degree of consumer loyalty to the product. It was also revealed that brand management is a management activity that aims to create a long-term strategic assets, increase profitability and strengthen the brand's position in the market through effective positioning.