Comparative analysis of brand management strategies

• Main Authors: Y. B. Kostrova, Y. O. Lyashchuk, L. V. Cherkashina, O. Y. Shibarshina
• Format: Article
• Language: Russian
• Published: Voronezh state university of engineering technologies 2021-06-01
• Series: Vestnik Voronežskogo Gosudarstvennogo Universiteta Inženernyh Tehnologij
• Subjects: brand, personality, advertising, consumer preferences, motives, self-promotion
• Online Access: https://www.vestnik-vsuet.ru/vguit/article/view/2683
• ISSN: 2226-910X; 2310-1202

The article considers the process of branding as a means of self-promotion and personal expression. When conducting the study, the authors used the theory of consumer behavior of A. Maslow as a methodological basis, as well as the visual structures of the personality of Z. Freud, K. Jung. The aim of the study is to analyze the process of branding as a psycho-logical means of self-promotion and personality expression. During the study, general scientific methods of cognition were used within the framework of dialectical and systemic approaches, methods of logical and situational analysis. The main tasks of personal expression, solved with the help of brand products, have been identified. At the same time, the authors argue that the choice of brand products for self-promotion in all three cases is based on one psychological motive - self-realization and self-expression. It is shown that the brand brings additional income, since many consumers are ready to overpay, giving an additional amount of money for the opportunity to have a prestigious product even for a premium price. Brands have an emotional connection with consumers. Leading companies with famous brands have long noted for themselves that the connection of their goods with consumers lies through emotions. Brands help people fulfill their dreams, desires, open up more opportunities in life. The stronger and more significant the unique, rational and emotional characteristics of the brand for the consumer, the higher the price he is willing to pay for the product, the greater the opportunity for the company to profit. The increase in profits in turn leads to an increase in the value of shares and to an increase in the value of the company itself, since the brand is a kind of intangible asset. Brand ownership is a winning result of the history of the company, the fate of its founders and executives, skillful talented brand makers. Not every name of the company can be called a brand, not everyone is destined to become one, not everyone is given to maintain the level of the brand. Having a brand means that even with approximately equal consumer and other properties, the product will buy more, the idea will have more adherents.