Regional brand-management: Definition of concept

Serhiy Gazuda

E-Forum Working Papers, 2023, vol. 13, issue 4, 87-93

Abstract: The article substantiates the need to form regional brand-management as an instrument for increasing the competitiveness of a region. It is noted that regional brand-management will ensure the recognition of the territory, ensure its implementation in the national and international economic community, and form a positive image among investors, business representatives, consumers and other stakeholder groups. The article reviews the literature on the content of the concepts of «brand management» and «regional branding». A literature review of the content of the concepts of «brand-management» and «regional branding» is carried out. The carried out studies of the concept of «brand-management» allowed to form three approaches to understanding its content: a systematic approach (a system that determines the sequence of implementation of measures for the branding object), a strategic approach (a strategic plan of measures to create an effective brand), an economic approach (ensuring the profitability of the research object, increasing the profitability and increasing the value of its capital, ensuring the profitability of the branding object, increasing the profitability and increasing the value of its capital). It is proposed that brand-management should be based on an integrated approach, which will involve a sequence of actions to create branding; development of a brand strategy; and getting economic benefits from effectively managed brand-management. The concept of «regional branding» is studied. The carried out research has shown that regional branding is based on three main characteristics: ensuring the competitiveness of the region; a system of economic, social and environmental goals of the region; a set of values that form the identity of the region. The article proposes to consider regional brand-management as a set of measures aimed at developing a brand strategy which will allow forming the socio-ecological and economic values of a territory and its identity among other territorial units, with a view to ensuring competitiveness and growth of the gross regional product. It is proved that an effectively formed regional brand-management will help to attract investment in the region's economy, improve the socio-economic development of the territory, intensify the development of the business environment, increase its competitiveness and increase its presence in the national and international space in general.

Keywords: region; brand-management; regional branding; value; competitiveness; brandstrategy; national space; international space (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:cuc:eforum:v:13:y:2023:i:4:p:87-93

DOI: 10.36910/6775-2308-8559-2023-4-11

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