Doctor of Economic Sciences, Professor, Head of the International Economic Relations Department
of Kyiv National University of Trade and Economics;
19, Kyoto str., Kyiv, 02156, Ukraine
postgraduate student of the International Economic Relations Department
of Kyiv National University of Trade and Economics
19, Kyoto str., Kyiv, 02156, Ukraine
STRATEGIES OF THE NATIONAL BRAND IN THE CONTEXT OF GLOBALIZATIONBackground. Existing modern methods of assessing the national brand and determining the position of the country in relation to other leading world organizations in their overwhelming majority are based on subjective data and do not take into account the influence of the national brand on the country’s competitiveness in the world. The objective assessment of the integrated National Brand Index (NBI) with the highlighting of the main components and the analysis of their contribution, as well as the comparison of the NBI with the Global Competitiveness Index, will allow to formulate the respective strategies of countries depending on their position in the world.
The analysis of recent research and publications has shown that despite the existence of certain scientific advances, the tools of the assessment of the integrated National Brand Index require further development and the level of competitiveness of the country should be taken into account, and on the basis of that –the strategies definition of the national brand development in the conditions of global competition.
The aim of the research is to calculate the integrated Nation Brand Index by determining the key factors that influence its formation in the conditions of global competition and consequently to suggest strategies of the prospective development of the national brand and country’s competitiveness.
Materials and methods. In the process of the research the methods of theoretical generalization, comparative analysis, analysis and synthesis, economic-mathematical modeling and factor analysis, the model of strategic analysis and planning of Shell/DPM were used.
Results. The article suggests a methodical approach for calculating the integrated National Brand Index (NBI), which is based on an objective assessment of the indicators of socio-economic development of the country with the emphasizing on the main components which influence global competitiveness –macroeconomic, social, corporate and innovative components, and also is based on the analysis of the contribution of these factors. This approach makes it possible to quantitatively characterize the contribution of key factors shaping a national brand in a global competitive environment. Using the spatial set of brand indexes and global competitiveness combined with strategic analysis and planning models has allowed to determine the position of countries in the world based on a comparison of the NBI with the Global Competitiveness Index. According to the results of the research, strategies of developing a national brand and global competitiveness were developed in accordance with the country’s position in the world. Implementation of the suggested approach will strengthen the validity of the definition of the influencing factors on the national brand, enrich the theoretical and methodological principles of analysis of the national brand in the conditions of global competitiveness, expand the informational basis and provide an opportunity to improve the effectiveness of public policy in the field of formation of a national branding strategy.
Conclusion. As a result of multivariate statistical analysis, 16 output indicators based on the use of the method of Varimax components’ rotation have been divided into 4 groups of integral factors: macroeconomic, social, corporate, innovative components. Each of them has its own share in the formation of the National Brand Index. According to the given model, the total contribution of the selected factors in the formation of the national brand indicator was 91%.
The matrix of prospects of the national brand development that has been formed allows us to analyze the current and prospective state of the country and its place in the world, to track the movement in quadrants in dynamics. 9 quadrants that have been highlighted describe the strategy of the prospective national brand development and are based on the global competitiveness position.
The presented results require further scientific research in order to expand the number of countries that has been studied and also require the usage of the factors predicted value that will influence the national brand in the future in order to adjust the relevant strategies of the national brand prospects and global competitiveness in the forecast period.
Keywords: country brand, national branding, global competitiveness of the country, national branding strategies.
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