Mechanism of Brand Forming and Development in the Services Sector

The article deals with an analysis of theoretical approaches concerning the essence of branding and its peculiar features in the services sector. Branding is a logic sequence of management actions aimed at reaching a set goal, a balanced investment approach to creating a brand essence and related with it communications (internal and external ones) and it subsequently promotes increases in profitability and value of brand being an asset. On the basis of the conducted research the mechanism is developed and the stages of brand forming (Competitive Brands Analysis; Developing the Concept of Brand Positioning; Developing Brand Strategies; Brand Image Forming; Forming Brand Identification; Forming Loyalty of Consumers to the Brand) and development grounded in the specified field.