Role, Functions and Types of a Brand as Individualization Means of Products and Organizations

Abstract

Today’s market economy of Russia based on multisectoral ownership is represented by a variety of business entities of different organizational and legal arrangements and types of economic activity. All of them enter the consumer market as its competent participants for selling products, work performance and service rendering. The multiplicity and diversification of business entities create options for consumers to buy goods or services. Therefore, any business entity should have its individual character to be distinguished or identified by consumers among the objects of the same kind. The possibility to identify some distinctive features of organizations is provided by means of individualization. These means are applied not only to organizations. They are equally important for identifying products (work, services). The theoretical justification of the role and functions of a brand as an individualization means of products and organizations is provided in the article. The authors also present their proper typology of the described phenomenon.

DOI: 10.5901/mjss.2015.v6n2p251