BRAND LOYALTY AS A TOOL OF REDUCTION THE NEGATIVE BUSINESS RISKS

  • Iryna Markovych Ternopil Ivan Puluj National Technical University

Abstract

An analysis of literary sources was conducted, which had to be done a conclusion that in the system of complex business risks in the activity of companies, branding, client-oriented approach to activity, etc. can be a competitive advantage of the enterprise not only in the national markets, but also in the global environment. It has been shown that brand loyalty is based on two components ‒ customer satisfaction and regular shopping. The ability of a buyer to distinguish a company product from one another is an important task of the company's marketing services. A study of the history of branding has shown that, until recently, this process was inherent only in large companies that understood the necessity of investing heavily in brand-forming. However, today this task can be successfully implemented at medium and small enterprises. Features that distinguish small companies from large ones in terms of marketing are shown, such as limited customer base, limited activity, lack of formalized planning and evolutionary marketing, the owner-managers' marketing competency. Features that distinguish small companies from large ones in terms of marketing are shown, such as limited customer base, limited activity, lack of formalized planning and evolutionary marketing, the owner-managers' marketing competency. Emphasis is placed on the fact that significant dissimilarities in marketing technologies differ not only among enterprises of different sizes but also in the companies of different territorial markets. The role of production fragmentation, deconcentration, geographic “diffusion” is described, in the context of which differences between globalization, lLocalization and glocalization are shown. It is proved that according to the processes and principles of glocalization, brand adaptability to territorial and segmental market features is its determinative quality that can expand markets for the company.

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Author Biography

Iryna Markovych, Ternopil Ivan Puluj National Technical University

Ph.D. (Economics), Associate professor, Associate professor at the Department of Economics and Finance

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Published
2019-12-20