Based on the fact that brand management is one of the main preoccupations and spheres of interest of successful companies, as well as that the brand is increasingly important for consumers, the Faculty of Economics organized an educational and business event BRAND DAY – How to build and position a brand in the minds of consumers?
Welcoming the attendees, the dean of the Faculty of Economics, prof. Dr. Mijat Jocović said that the role of the Faculty of Economics, as the first faculty in Montenegro with a tradition of more than six decades, is to provide space for public discourse on topics that are significant for the development of our society and economy, in addition to the education of modern economists and managers. He expressed his satisfaction that, in addition to numerous topics that were the reason for the organization of panel discussions at the Faculty, it was the turn of the brand topic as well.
“The goal of this event is to point out the importance of building a brand and its positioning on the market, as well as creating optimal strategic responses for long-term management of the brand and its value, through academic discussion and representative examples from Montenegrin practice,” concluded Dean Jocović.
Creating a recognizable brand, which can join already successful brands equally in the fight for consumers on the domestic market, but also on other markets, becomes one of the key success factors, said the moderator of the event, prof. Dr. Boban Melović. He pointed out that the goal of this event is to highlight the importance of building a brand and its positioning on the market through academic discussion and representative examples from Montenegrin practice, as well as creating optimal strategic responses for long-term brand management and its value.
“Today, the brand is one of the key factors in the fight for the consumer. emerged easily on quality products, today the brand concept is increasingly applied in the field of services, such as tourism, trade, telecommunications, banking, etc. but more and more we associate the brand with football clubs, humanitarian organizations, various social ideas, etc., which was unthinkable twenty or more years ago. That’s why branding is explained as a process in which we usually improve and improve something so that it becomes more valuable and meaningful,” said Professor Melović.
Prof. Dr. Jurica Pavičić, full professor of the Faculty of Economics and vice-rector for international cooperation of the University of Zagreb, pointed out that when talking about the brand, you can often hear that branding is mandatory. However, he believes that branding, due to the often high costs, should be approached when there is a clear answer to the question “Why is it important to us, what do we want to achieve?”. If the achieved goal justifies investing in the brand, then it is a justified investment.
The discussion was divided into two segments. In the first part, Brand – the business imperative of modern times, the attendees could hear different views on this topic from the perspective of the academy,representatives of relevant institutions and experts dealing with branding issues. The participants of the first panel, in addition to Professor Pavičić, were: Armend Milla, State Secretary (Ministry of Economic Development and Tourism), Darko Mijušković, visual communications specialist, head of the Graphic Design and Production Bureau (Government of Montenegro), Novica Bulatović, Marketing Director ( Chamber of Commerce of Montenegro) and Leka Dedivanović, consultant for marketing and communications.
In the second panel, which was titled – Challenges of building and managing a brand on the Montenegrin market – corporate experiences, representatives of successful companies shared their corporate experiences in building and positioning a brand on the Montenegrin market. The participants of the second panel were: Marijana Kadić Bojanić, executive director (television Vijesti and Daily Press), Predrag Perković, director of the commercial sector (Crnogorski Telekom), Olivera Lakonić, marketing director (VOLI Trade) and Igor Đuričanin, marketing manager (Regent Porto Montenegro).
Numerous students who were present at the event, as well as guests of the Faculty of Economics, were able to hear answers to some of the most important questions regarding the brand, such as: What exactly is the strength of the brand? How to build a powerful brand in the mind of the consumer, especially if we know that the consumer was and still is a “black box”? What do the experts say about it? How the country views the issue of branding and why many countries insist on national branding. What should be taken into account when positioning the brand and striving to gain the attention of consumers? What are the most common branding mistakes? How did successful brands in Montenegro develop and how do they develop?
After the successfully completed panel discussion, there followed a segment dedicated to students’ questions within the student workshop entitled – “Me as a brand manager…”.
