THE RELATIONSHIP BETWEEN INVESTMENT IN DIGITAL BRANDING AND GLOBAL COMPETITIVENESS

Valentina Mucunska Palevska, Viktorija Trajkov and Angela Milenkovska Klimoska
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Valentina Mucunska Palevska: University of Skopje
Viktorija Trajkov: University of Skopje
Angela Milenkovska Klimoska: University of Skopje

UTMS Journal of Economics, 2024, vol. 15, issue 1, 87-98

Abstract: The application of digital technology in brand management is a focus of interest for research on the scientific public because communication and information technology in competitive economies generate the need to create a new paradigm of global branding that enables the availability and sharing of information in the business community for the exchange of business practices in function on the improvement of the processes with target competitive positioning of the brand. In business, the branding industry is also expanding because it realizes the importance of innovative creation and positioning of brands to improve profitability. Digital branding became dominant with the frequent use of the Internet and social media. The analysis of statistics researching this industry globally predicts that by the end of 2024, over 75% of businesses will increase investments in creating digital branding strategies. This paper researches the relationship between information and communication technology and branding, ie the level of application of digital technology and investment in branding and the impact on competitiveness. Relevant data for the period from 2023 to 2024 were used for the analysis. Based on the obtained indicators, it was proven that corporations invest insufficiently in digital branding, which results in weak brand positioning and competitiveness.

Keywords: information and communication technology; brand; business; competitiveness (search for similar items in EconPapers)
JEL-codes: I24 (search for similar items in EconPapers)
Date: 2024
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