Current Approaches to Brand Management and Evaluation of Benefits

Abstract

Purpose

The chapter aims to consider current approaches to brand management and brand value assessment with substantive analysis of the positions of Russian and foreign scientists.

Design/Methodology/Approach

Considering the numerous definitions outlined in scientific and educational literature, the author's definition of the term ‘brand’ is given; the history of development and current approaches to the definition and identification of the role and importance of branding in large international and domestic companies are analysed; attention is focused on the features and stages of branding in companies. Particular attention is paid to the essence and relationship of strategic company management and brand valuation.

Findings

The authors reveal proactive branding as a transition from unbranded goods to consumer loyalty. A matrix of brand strategies is drawn up. Professional marketing standards for entrepreneurs are systematised. The management of the brand's life cycle in the matrix ‘profitability – the cost of the brand’ is proposed.

Originality/Value

The authors define prospects and provide recommendations for improving the practice of brand management and brand value assessment, making it possible to increase the effectiveness of strategic marketing business management.

Citation

Yaroshchuk, A.B., Guliev, A.Y. and Mikhaylenko, M.N. (2023), "Current Approaches to Brand Management and Evaluation of Benefits", Popkova, E.G. (Ed.) Game Strategies for Business Integration in the Digital Economy (Advances in Business Marketing and Purchasing, Vol. 27), Emerald Publishing Limited, Leeds, pp. 9-18. https://doi.org/10.1108/S1069-096420230000027002