Authenticity of brands in the marketing commodity policy of the enterprise

Keywords: brand, authenticity, product policy, brand strategies

Abstract

The article analyzes the change in consumer priorities. The latest trends in the development of values of target audiences of enterprises are studied. The impact of the new generation Z's expectations on society and business is analyzed. The main differences between millennials and generation Z and past generations X and boomers in terms of purchasing behavior are revealed. The era of consumption, which was part of the lives of a significant number of consumers around the world, is gradually giving up. The paradigm of responsible consumption is being replaced. It is investigated that modern target audiences are increasingly concerned about the social responsibility of business, its ethics. Consumers are already demanding not only a reduction in the impact of production on the environment, but concrete action by them to solve society's problems. The essence of brand authenticity is determined. Honesty and sincerity, social responsibility, consistency of the principles of socially responsible production, consumers refer to the authenticity of the brand along with its unique characteristics and uniqueness. The study found that they are willing to buy those brands that share similar principles with consumers. It is determined that for consumers those brands are more valuable, for which the welfare of society, its employees, the environment is in the first place, rather than obtaining high financial indicators at any cost. This is especially important for Generation Z. It is expected that this trend will only develop and manifest itself more deeply. After all, the time is approaching when the new generation will become the bulk of buyers. The article identifies the principles of doing business, which should be supported by enterprises for the successful development and support of their brands in today's conditions and in the long run.

Author Biography

Maryna Kirnosova, Odessa Polytechnic State University

PhD (Economics), Assistant Professor, Assistant Professor of Department of Marketing

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Published
2021-09-29
How to Cite
Kirnosova, M. (2021). Authenticity of brands in the marketing commodity policy of the enterprise. VUZF Review, 6(3), 78-89. https://doi.org/10.38188/2534-9228.21.3.09
Section
Articles