Market-Oriented Approach to Management of Territorial Development: Discussion of Debatable Issues
Place marketing is a modern mechanism of management of development of spacial entities (cities, regions, etc.) based on principles of regulated self-organization and support for self-emerging tendencies. At that, territories are viewed as socially responsible multi-stakeholder quasi-corporations which manufacture specific products and promote their brands. However, it is still not clear what is place marketing—function or ideology of regional management? How are marketing and branding related? What is “place product” and who are its consumers? Why are instituting place products important? How are the traditional strategy of socio-economic development and marketing strategy of the region related? What is the mechanism of work of regional marketing? The article provides authors’ variants of answers to these and other debatable questions of theory and practice of place marketing in view of new methodological approaches.
KeywordsPlace marketing Marketing strategy Place product Instituting products Stakeholders Mechanism of regional marketing
This work was supported by the Department of Humanities and Social Sciences of the Russian Foundation for Basic Research (the Russian Foundation for Humanities) and Administration of Volgograd Oblast (Project No. 17-12-34009 “Institutions and industries of transactional development of regional economy: formation of analytical methodology and policy of regulation”).
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