Posted in Marketing and Strategy Terms, Total Reads: 564
Definition: Place Marketing
Place Marketing, also referred to as Place branding refers to promotion of a particular place. It goes beyond the notion that the struggle for preference is only for the products and services. All over the world, countries, states, cities are competing for the attention in terms of business, tourism income etc. This has made it imperative that a place differentiate itself from all others and promote its unique characteristics.
Some of the relevant variables or parameters include:
• Business potential and ease of doing business
• Tourism infrastructure
• People and resources
• Standard of local service
While organic place branding has been occurring right since day one, strategic applications have increased now. The four dhams (Hindu religious places) are an example of organic place branding while Las Vegas’ portrayal as ‘Sin city’, Kerala’s promotion as ‘God’s own country’, ‘Incredible India’ campaign can be considered examples of strategic branding.
Place marketing sometimes builds on its current perception and existing assets and sometimes creates new assets to derive value from. The idea is to identify the image that the place has to revolve around and then communicate it through proper channels to reach out to the target consumers!