 MARKET NICHE AS A METHOD OF BRAND PROMOTIONOlena Boienko () and
Оleksii Susidenko ()
Baltic Journal of Economic Studies, 2019, vol. 5, issue 1 Abstract: The transitional period, in which most of European and the world countries today are, is in need of renewal and continuity of integration processes in vital areas to which the economic sphere itself belongs. Ensuring the introduction of universally accepted standards for the provision of public services in the economy into the practice of public administration actors is today a priority task of absolutely all countries that have declared in their Basic Law the principles of the rule of law and the rule by law, the recognition of a person, its life and health as the highest value. Significant obstacles to the gradual and systematic nature of such activities, determined by the aggravation of social tension in society, external aggression, the peculiarities of domestic doctrine and legislation, which are formed using well-defined concepts, at the same time, today contain ambiguous provisions on content, in particular, the notion of public services, their varieties, procedures for their provision, performance indicators. The abovementioned causes the necessity to search for the best ways to eliminate the above inconsistencies, which lead to real inhibition of activities as to ensure the quality provision of public services in the economic sphere. Only the cautious implementation of the principles and criteria for evaluating the provision of public services, as implemented in foreign countries (Great Britain, Germany, the USA, France, Hungary, the Baltic States etc.), should take into account the peculiarities of social relations that have developed in a specific state, in particular, in Ukraine one should take into account the complications associated with the current crisis in the political and international situation and, first of all, the urgent need for service orientation of public administration bodies in the economy and the financial sphere. At the same time, the presence of such features should not negatively affect the principle of gradualness and the continuity of the implementation of international standards in this area. Methodology. The solution of the set purpose is realized using the cognitive potential of the system of philosophical, general scientific and special methods. The comparative legal method is dominant, which allowed determining the development directions of domestic statutory enactments in order to bring them in line with the generally accepted standards for the provision of public services, the experience of highly developed economies. Methods of grammatical review and interpretation of legal norms have contributed to identifying gaps and other shortcomings in legislation that regulates the provision of public services in the economy, developing proposals for its improvement. Practical implications. The introduction of effective, timely, and consecutive steps to ensure the provision of quality public services in the economy, based on the unification of the standards of developed countries in the world, which will mean the implementation of an important step towards the global economic crisis recovery. Moreover, an example of the development of public service functions in European countries will demonstrate real achievements of an important task of reformation in countries with less developed democracy and insufficiently high investment climate index.The purpose of the paper is to prove that market niche is one of the methods of brand promotion. Methodology. To do research, we need to use theoretical and empirical methods. Analysing the Interbrand Ranking, we used methods of comparison, concretization, and generalization. Brand value trend was studied using the method of graphics modelling. To study the definition of "market niche", there were used methods of comparison, generalization, and synthesis thanks to that we defined the special features of this concept. Results. The brand is a relatively new concept, which was developed in the second part of the 20th century. According to the results of this ranking in 2016, the most successful brands were Apple, Google, and Coca-Cola. These brands have the long history and their own experience of doing business in the scale of the global market. One reason for their success is the right selection of a market niche. It was defined that the market niche might be characterized by the next features: highly individual needs and requirements for satisfying which it is necessary to have a range of complement goods and services; stable market potential; weak competitors. There were interviewed several chief-executives of big Ukrainian companies and analysed the most successful and profitable market niches for today. These are: Internet resources: big data; online courses; delivery service; wearable gadget; 3D-printing; robots; fuel cells and batteries; commercial property in regions; smart materials; auto components; health care; recycling; alternative energetics; space; escort of elderly people; franchising business; agriculture; geological prospecting and green projects. Practical implementations. We defined that the brand needs to make six main steps for entering the new market. Firstly, it is necessary to define own niche. Next step is to analyse how external factors influence the brand, which operates in the chosen niche. After this business should analyse opportunities of the brand in this niche, later it is necessary to carry out a SWOT analysis of brand operating in this niche and make the prognosis of the brand operation in this niche and finally prepare the rating of chosen market niches. Value/originality. The results of made investigation might be used by entrepreneurs who are going to set up business because according to the suggested analysis we can see the most profitable niches for coming 10 years. Keywords: market niche; non-material asset; brand; marketing tools; competitiveness; range of goods (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bal:journl:2256-0742:2019:5:1:3 DOI: 10.30525/2256-0742/2019-5-1-15-20 Access Statistics for this article Baltic Journal of Economic Studies is currently edited by Anita Jankovska, Managing Editor More articles in Baltic Journal of Economic Studies from Publishing house "Baltija Publishing" |
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