The development of the brand in today’s competitive environment: theoretical and practical aspects

Abstract

The article discusses theoretical and practical issues of brand development. It is shown that the formation of a system of brand–consumer relations depends on human factors influencing the development of brand symbols as well as the process of promotion and functioning in the market. In particular, in the system of relations “brand–consumer” the main element is a human; therefore, the mechanism of interaction between the brand and the consumer is probabilistic in nature and depends on many factors.