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Candidate of Economic Sciences, Associate Professor,
Associate Professor at the Department of Marketing,
Kyiv National University of Trade and Economics
19, Kyotostr., Kyiv, 02156, Ukraine
DIGITAL TECHNOLOGIES IN INCREASING BRANDS VALUEBackground. Digital transformation in social production is a change that is caused by the influence of interconnected factors: new technologies, changes in consumer behavior and new business models. For brands, digital transformation involves changing and adapting to new business conditions through innovation, which influences sales growth, profitability and company value.
Recent researches and publications analysis. The theoretical basis for the digital transformation of all modern social processes was the concept of the knowledge economy of a post-industrial society, which was formed by such scientists as D. Bell, J. Galbraith, E. Toffler and others. The study of transformational processes in business and the formation of new business models with the use of digital technologies were carried out by O. Gudz, S. Ilyashenko, L. Fedulova, L. Frolova, А. Natorinaand others. Digital transformations in marketing were studied by F. Kotler, G. Katadjaya, I. Setiavan, O. Marchuk, M. Oklander, E. Romat and others. Sufficiently developed is the issue of forecasting the future development of society in general with the use of digital technologies. At the same time, problems remain related, in particular, to the issues of management at the level of individual brands and the identification of the digital technologies impact on their future value.
The aim is to investigate the impact of the social production digital transformation factors on changes in business models, which contributes to increasing the value of brands; to substantiate the necessity of integrating the digital strategy into the overall marketing strategy of the company and its use as a defining tool for building a strong brand in today’s competitive environment in the digital environment.
Materials and methods. The materials from the reports of the 2019 World Economic Forum in Davos, the Brand Finance Global 500 companies and Smart Insights (Marketing Intelligence) Limited have been used in the research, as well as scientific publications, which allowed the use of scientific methods for analysis and synthesis, system-structural analysis, comparison, logical generalizations to establish a link between the development and implementation of modern digital technologies in the business model and marketing strategies of the world-known brands and the growth of their value.
Conclusion. In the context of modern digital transformation of social production and fierce competition, the success of companies is ensured by the introduction of innovations, rapid adaptation to digital change and diversification of activities. This is confirmed by the analysis of data from Brand Finance Global 500 in 2019, carried out in the article. The most successful brands in the world operate in the field of digital technologies, actively carry out scientific research and innovate in their activities.
The need to use digital technologies for brands is conditioned by the influence of technological, psychological and social factors, which appear in the emergence of new technologies and changes in consumer behavior. Such transformations lead to the need to change business models and apply strategies, technologies, methods, and tools of digital marketing. It is the digital transformation of business and marketing that results in a reduction in the cost of money and time, both for traders and consumers, which leads to an increase in the value of delusions in the eyes of the latter and, accordingly, increase sales, profitability and value of companies.
Keywords: innovations, digital technologies, factors of business digital transformation, business models, brands, digital marketing, digital marketing principles, digital marketing strategies, brand value increase.
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