STRATEGIC APPROACHES TO BRAND PROMOTION AND PRODUCT RANGE DEVELOPMENT IN THE FOOD MARKETS

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Роман Васильевич Скуба

Abstract

The article provides an assessment of the features of the application of branding strategies in the context of the development of the assortment in the food markets. The specificity of umbrella and flank brands is considered. Highlighted their strengths, as well as the advantages of moving from an umbrella to a flank brand, contributing to its profitability. The article presents the approaches to the development of the product range and associated brand strategies formed through various methods, taking into account factors related to the scale of sales, product characteristics, goals and objectives of the companies: vertical and horizontal expansion of the brand line, new product-market brand extensions, co-branding, strategies for combining components of goods into a set and its division, combining several goods into a set, dividing a set of goods. The following consequences of the implementation of branding strategies as a consequence of the expansion of assortment groups of food products are determined: the substitution effect within one product line - occurs when a new brand attracts new food buyers and at the same time distracts from the main, umbrella brand, as well as the effect of scale of the product line - when fixed costs decrease associated with sales and distribution, and excess production capacity, then do not cause the need for additional equipment costs. It has been established that the decision to withdraw a product from sales must be carefully thought out and balanced, since the method of allocating fixed production costs for a product line is often used when taking into account costs and calculating the profitability of an assortment, and this can distort the declared profitability of any particular brand or product.

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