Abstract:

The article deals with the theoretical approaches to branding as the instrument for business management. The economic definitions of the concepts of «brand», «branding» and «trade mark» are made more precise. The brand functions are studied from two viewpoints (the functions for a consumer, and the functions for a long-term and competitive strategy of a producer). The author formulates the principal brand elements providing obtaining goods (services) by a producer, high profits during a long time: identification, differentiation, and the influence upon the consumer’s behavior. Two models describing the structure of typical brand features (the model of four-dimensional branding of T.Ged, and the model of «Brand Wheel») are singled out and discussed. It is examined the accounting reflection of trade marks depending on whether they were received or created in an enterprise. Analyzing different structural models, describing the system of typical brand features, it is established that the most significant elements directly concerning the brand identity are the following: brand values, brand individuality, the type of brand relations with a consumer, and the brand essence.

Keywords: