The issue of competition among economic entities is one of the main foundations of their functioning. Each firm needs to establish its position in the market, and this can be achieved by attaining competitive advantages, one of which is the brand. A brand represents a set of perceptions in the consumer's mind, certain values aimed at influencing the target audience, as well as collection of unique characteristics and traits inherent to a specific entity that distinguish it from competitors. A well-developed brand can attract consumer attention, ensure their loyalty, and provide its owner with power over the market. This research aims to analyze the role of the brand in competitive struggle and the ways to conduct it. The conclusions drawn in this work can serve as a basis for understanding the functioning of brands, while the suggestions are aimed to promote brand development in Russia.
Alina Vetrova (Mon,) studied this question.