m!M held a workshop “Brand Management in Digital Ecosystem”

The NGO Mladiinfo Montenegro held a workshop on “Brand Management in Digital Ecosystem”, at the hotel CentreVille in Podgorica, on August 27, 2020.

The lecturer at the workshop was assistant professor dr Luka Uskokovic, an expert in the field of marketing and brand management. In the first part of the workshop, Uskokovic explained to participants how to improve business through process of digitization.

“Digitization is not a distant future, but the reality of service delivery in motion. The impact of the new era of digital communications has exposed service organizations to huge changes, disrupting traditional service processes and enabling the provision of services and the exchange of experiences 24/7 in the so-called real time. Start digitizing the service by creating daily content, create an interactive consumer relationship with your staff and your brand. Socialize the service brand by developing a network of all consumers who will communicate the value generated by your business. Your presence on social networks and the Internet is no longer enough. You need to integrate the online and virtual environment with the traditional one and coordinate marketing efforts in attracting new consumers. Measure response and feedback as indicators of effects on brand value, concentrating on online traffic, number of website visits, number of unique visits, amount of viewed content, number of Facebook, Instagram, Twitter or YouTube followers, SEO ranking, and most importantly conversion to actual sales”, Uskokovic said.

Also, during the lecture, Uskokovic pointed out what the revitalization brand means.

Brand revitalization implies the process of changing any tangible and intangible part of brand identity, namely its element or mix of elements, in particular changing the logo, slogan, design, brand metaphors, online presence, website, service environment, launching new services or cobrands, changing the service brand profile or changing the basic brand idea that integrates brand value with market value system”, pointed out Uskokovic.

During the presentation, Uskokovic explained to the audience where the brand is created.

“There are five levels of products: the basic product is the essence of the product, the second level is a generic product, the third is the expected product, the fourth is the so-called increased or expanded and the fifth is potential product. There is no brand if you did not come to the third level of the product”, stated Uskokovic.

In the second part of the workshop, Uskokovic spoke about the impact of the Covid-19 pandemic in Montenegro and the world.

“Tourism is a movement, and it can never stop. The season is determined not only by the calendar, but also by the tourist demand. Tourism is the only sector that has grown continuously and in much worse conditions during the 2009 global crisis.

Analyzes show that today two out of three people are not ready for the recession and that in 2009 we were in a much better financial condition. Remember, it was a time when, by inventing financial derivatives, we created a pyramid of risk, in which we shifted responsibility from higher levels to lower and lower, and finally reached the global population, which paid the guild. Today, in 2020, the global health crisis caused by the coronavirus has moved in the opposite direction of the pyramid, from nature, from people, from all of us. With the system of merged courts, the crisis of aggregate supply and demand, we are spilling towards the top of the pyramid, from the real sector, at the same time and in all markets”, concluded Uskokovic.

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