Factors influencing the brand formation of construction enterprises
The role of the brand in today’s market conditions is increasing, which is associated with fierce competition on the one hand, as well as globalization of economic space, structures, processes and phenomena on the other. Such conditions require a deep understanding of the concept of a brand that is evolving, transforming and becoming more complex. Identifying the factors that influence the formation and use of a brand will help formulate the concept of “brand”.
In recent years, there has been an increase in the value of the brand of a construction company, but the level and features of its use indicate a decrease in the efficiency of its formation and use. The brand influences the interaction with customers of construction products, but does not provide a high level of relationships with different groups of stakeholders.
The article is about identifying the factors that influence the formation and use of a brand. The existing theoretical and methodological approaches to defining the brand of construction enterprises are investigated. Analyzes interdisciplinary terminology that influences the formation of brand definition, creates a holistic vision of the concept of “brand”.
Keywords: brand, branding, factors, stakeholders, construction companies, management.