Algorithm design for formation of a new brand in Ukrainian market of meat processing industry

Abstract

Aggravation of competition in the domestic market of meat industry and the prospects opened due to the accession of Ukraine to the world economic space encourage manufacturers of meat products to the creation and use of original means of individualization of the entity and the products. One of the most effective means of product differentiation is branding. Despite the diversity of areas of research theory and practice of branding, covering issues from the perspective of product differentiation to ensure the competitiveness of enterprises in strategic perspective, now the formation and implementation of technological and functional component of brand management are insufficiently studied. The object of the study is the implementation of branding as a marketing tool of meat processing industry. The aim of the study – based on the generalization of theoretical concepts and practical experience to develop the conceptual basis of the formation of a new brand and offerred competitive adapted to local market conditions algorithm to form a new brand in the market of meat processing industry. Research showed that the subjects of economic activity of meat processing industry in Ukraine faced with conditions of high market saturation and increasing competition constantly. There are trends towards consolidation of production and folding of small producers. Given the need for enterprises of meat industry to use modified, adapted to local market conditions branding algorithm, we proposed algorithm design for formation of a new brand. The algorithm enables create competitive advantages at all levels at the stage of developing new brand on the basis of strengths of the company and customer values and ensure the long-term gains in market leadership, intra-company focusing and increased profitability.