ZNAČAJ KONCEPTA BRENDA ZA SAVREMENI MARKETING
THE SIGNIFICANCE OF THE CONCEPT OF BRAND FOR MODERN MARKETING

Summary/Abstract: This paper points to the significance of the concept of brand for the business of modern companies, which are becoming increasingly affected by the pressures of competition and consumer demands. The concept of brand was analyses from the viewpoint of the consumers and companies, which create the market offer and use branding as a way of differentiating themselves from the competition. Keeping in mind that the goal of the branding process is to create strong ties to the consumers, the paper stresses the importance of the brand for increasing consumer loyalty, which are the basis of company profitability. It is stressed that the brand is an important element of intangiable company assets, taking part in creating its market value.

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