The Importance of Professional Services Branding in International Transactions

International exchange of services is gaining more and more significance. It has both direct and indirect effects on the overall trade and economic growth and development. As a powerful part of service activities, business services, in particular professional ones, have shown to be quite effective in improving the overall productivity and economic growth across economies. Also, this sector contributes considerably to poverty reduction, thus making the overall market situation more dynamic and complex. The aim of this paper is to show that the branding process of professional services has become inevitable and mandatory for achieving the desirable market position. Successful professional companies use the valuable branding strategy for developing a sustainable competitive advantage in professional services market, as this strategy could be a valuable source for differentiation, satisfaction and client retention. The ultimate goal of professional services branding is to make the brand understandable, which is the basis of a good relationship with clients. Research results indicate that customization of consulting services adds value to the interaction with clients. Having that in mind, branding of professional services can be an important source of market power, “living business asset”, which generates different quality value, optimizes costs and stimulates loyalty.