DEFINING THE BRAND OF CONSTRUCTION COMPANIES AND FACTORS THAT INFLUENCE ITS FORMATION AND USE

Abstract

The current conditions of operation of domestic enterprises are determined by the eclecticism and insignificance of forms of management, which combine the emergence of new elements, characteristic market conditions, and the preservation of former elements. In full, this concerns the functioning of the construction sector. Its development is accompanied by the formation of economic relations, which at the same time bear the rudiments that determine the functioning of a hierarchically organized system, where there are no partnerships between public authorities and economic entities. They exacerbate the ambiguity of the processes taking place in construction, the lack of "transparency" in the allocation of land for construction, the manifestation of raider hobbies, the opacity of interaction with customers. In such circumstances, it is of particular importance to use modern tools to ensure the investment attractiveness of construction companies by forming and using a brand. 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".