Abstract:

‘Products are made in the factory, but brands are created in the mind’ – Walter Landor, Landor Associates.

Today the brand is one of the most important instruments of competitive struggle. The brand is not only an intangible asset, but also a resource that is definitely permanent, with a high economic potential. Building a strong brand is a complex and long-term process, requiring the necessary preparation of strategic foundations and then undertaking tactical activities related to the creation of the brand. In order for this process to help companies in their efforts to increase competitiveness, a comprehensive action plan is needed that describes the corporate image, product functionality and brand management concept, which in the long term determines the consumer's choice of the brand. The main determinant of brand development is the availability of information about it, the attractiveness of its presentation, the high level of technology and the possibility of building a system of recommendations and communities around the brand.  A sign of a strong brand is the loyalty of customers to the brand and the community gathered around it (creating fun brand clubs). By building a strong brand, you can multiply the value of the company. The article tries to show that the focus on building a strong brand from the beginning can become a real opportunity for many companies to increase their competitive position.