Formation of brand positioning strategy in small and medium enterprises

Abstract

With the economic growth and fierce competition in our country, it is not enough for SMEs to simply produce goods and services and offer them to the market to continue their existence. Market conditions are constantly changing due to globalization and changes in customer expectations. Due to changes in consumer expectations and strong competition, SMEs' continued existence requires them to create brand value and a strong brand image for their products. The brand ensures that the business and its goods and services are perceived differently from its competitors, due to the perception it creates in the minds of consumers. Brand positioning is defined as an effort to place a product/brand somewhere in the mind of the consumer. The aim of positioning is to place the brand in the mind of the consumer in order to maximize the potential benefit of the business. This article was the first to define the concept of small and medium-sized businesses. The principles of brand positioning and marketing are theoretically defined. In addition, the use of social networks and the strategic positioning of small and medium-sized businesses is theoretically analyzed, and the principles of successful brand positioning are discussed. The research work used methods of comparative analysis, systematization, deduction and induction of scientific literature.