Innovative place branding tools: definition, essence, implementation mechanism

At the moment, the competition between different regions for attracting tourists, investments, new residents and businesses has caused the persons responsible for the development of territories to turn to marketing tools. One of the tools for improving the attractiveness of the territory is building and promoting a strong place brand. The place can in this case comprise an entire country (Switzerland), as well as a smaller region: a state (California), a region (the Loire Valley), or a city (Berlin). The goal of place branding is creating a desired image of a place in the mind of a target audience; different messages can be developed for different audiences. The place brand is an umbrella brand which is a combination of subbrands. As with any umbrella brand, the decision-making process concerning an individual subbrand should take into account the effect that the decision will have on the parent brand and on other subbrands. A strong place brand development is a long procedure which has a strategic role for the growth of the region’s competitive opportunities and attractiveness. The article is dedicated to new, non-traditional instruments of place branding. It gives a definition of a place brand, place branding, place brand image, place branding policy, target audiences for branding policy. On the basis of the study, we have proposed the directions for forming a region’s image as a preferred destination for tourism, for various kinds of business events (exhibitions, congresses, workshops), for residence, work, study, investment, for launch of new enterprises, and for implementing innovations. We have given examples of effective measures for each of these directions.