In the past decade place marketing, country marketing and city marketing have enjoyed an increase in recognition, especially as countries and locations have been spending more money to encourage firms to locate their offices and plant locations in the place marketer's area. This is reflected in a growing number of associations, literature, media coverage and educational courses offered.
The aim of the present thesis is to evaluate current literature in order to understand the importance of place marketing in general and marketing of the Rhine Main Region, as Germany´s most cosmopolitan region, in particular. For an international context Hong Kong and Los Angeles are used as exemplary competitors. Los Angeles being one of the United States most powerful cities and Hong Kong representing the gateway to China. However, the focus of my investigation is on a B2B perspective in the marketing of the Rhine Main Region.
In literature and in practice, place marketing strategies vary from very simple to very sophisticated. Through examination of the aforementioned business locations I find out that there are huge differences in the approach and execution.
After the creation of a theoretical framework, in which I examine place marketing from the perspective of the marketer and that of the business customer, I put the whole set into practice with help of the Rhine Main Region, Los Angeles and Hong Kong. In my final conclusion I assess the place marketing activities of the aforementioned competitors and try to rank them according to their current performance.
Table of Contents
1 Introduction
1.1 Place Marketing Phenomenon
1.2 Definitions and Terminology
1.2.1 Region vs. Place
1.2.2 Place Marketing
1.3 From Marketing to Place Marketing
1.4 Aims and Objectives
2 Selling the Business Location
2.1 Objectives
2.2 Elements in a Place Marketing Process
2.3 Levels of Place Marketing
2.4 Who are the Main Targets of Place Marketers?
2.5 Major Actors in Place Marketing
2.6 The Place Marketing Process
2.7 Designing the Place’s Image
2.7.1 Image Marketing
2.7.2 Branding
2.7.3 Distributing the Place’s Image and Messages
2.8 Services in Attracting, Retaining and Expanding Businesses
2.9 Essentials to Successful Place Marketing
2.10 Problems
3 How Investors make their Choices
3.1 General Framework
3.2 Steps and Factors Influencing the Buying Process
3.3 Soft vs. Hard Facts
3.4 Influence of Place-Rating Information
3.5 Importance of Cluster
4 Place Marketing in the Rhine Main Region
4.1 Facts and Figures
4.2 Sectors of Industry
4.3 SWOT Analysis on the Frankfurt Rhine Main Region
4.4 Locational Advantages
4.5 Attracting, Retaining and Expanding Businesses
4.6 Designing the Image
4.7 Distributing the Place’s Image and Messages
4.8 Opportunities and Problems
5 The Rhine Main Region in an International Context
5.1 Hong Kong
5.2 Los Angeles
5.3 Country Comparison
6 Conclusion
Objectives and Core Themes
This thesis investigates current literature to understand the significance of place marketing, focusing specifically on the B2B perspective of marketing the Rhine Main Region. The primary research objective is to analyze regional competitiveness by benchmarking the Rhine Main Region against international counterparts, Hong Kong and Los Angeles, to derive strategies for successful business location marketing.
- Strategic importance of place marketing in a globalized economy.
- Investor decision-making processes and location selection criteria.
- Theoretical frameworks for successful place branding and image design.
- SWOT analysis and competitiveness assessment of the Rhine Main Region.
- Comparative analysis of investment promotion strategies in international regions.
Excerpt from the book
2.9 Essentials to Successful Place Marketing
A theoretical framework helps to focus the analysis. Rainisto was one of the first to present a concept of the most critical elements of place marketing, see figure 2-6. His theoretical framework has three “dimensions” of success factors.
The factors in the prism represent the core building stones/fundamental structures in place marketing (planning group, vision and strategic analysis, place identity and place image, public-private partnerships and leadership).
The factors on the side of the framework ‘prism’ help face the challenges in the network and in the macroenvironment (political unity, global marketplace, local development and process coincidences).
The third dimension of the framework consists of the “how and ability” factors (strategic exploitation, organizing capacity, presence of substance, measurement and follow up) which bring additional strain to the challenges of place marketing. All of the framework’s success factors are linked together in an interactive way to support the success of a place marketing process (Moilanen and Rainisto 2009, p. 23).
Chapter Summary
1 Introduction: Provides an overview of the place marketing phenomenon and outlines the aims and objectives of the thesis regarding the Rhine Main Region.
2 Selling the Business Location: Develops a theoretical framework for place marketing processes, including branding, image design, and success factors.
3 How Investors make their Choices: Analyzes the investor perspective, detailing the decision-making process and the influence of both hard and soft location factors.
4 Place Marketing in the Rhine Main Region: Examines the regional industrial profile, locational advantages, and strategic marketing initiatives of the Rhine Main Region.
5 The Rhine Main Region in an International Context: Conducts a comparative study of the Rhine Main Region against Hong Kong and Los Angeles using global competitiveness indices.
6 Conclusion: Summarizes findings and emphasizes the necessity of a systematic, long-term approach to place marketing for regional competitiveness.
Keywords
Place marketing, Regional marketing, B2B marketing, Rhine Main Region, Place branding, Business location, Investment promotion, Investor decision-making, Competitiveness, Hong Kong, Los Angeles, SWOT analysis, Strategic planning, Economic development, Location factors.
Frequently Asked Questions
What is the primary focus of this thesis?
The thesis focuses on place marketing from a B2B perspective, specifically examining how regions position themselves to attract business investment and economic development.
What are the central themes of the research?
The central themes include the theoretical underpinnings of place marketing, the decision-making criteria of institutional investors, and the practical implementation of regional marketing strategies.
What is the main research objective?
The main objective is to evaluate the competitiveness of the Rhine Main Region by comparing its marketing efforts and performance against those of Hong Kong and Los Angeles.
Which scientific methodology is utilized?
The work employs a literature review to establish a theoretical framework, followed by a comparative analysis and a SWOT-based evaluation of regional strategies.
What topics are discussed in the main body?
The main body covers the theoretical pillars of place marketing (brand identity, image building), the investor's perspective (hard vs. soft facts), and an in-depth regional analysis of the Rhine Main Region.
How is this research characterized by keywords?
The research is characterized by terms such as place marketing, regional branding, institutional investment, and international competitiveness.
Why are Hong Kong and Los Angeles used as competitors?
These cities serve as exemplary competitors because they represent different approaches to marketing: Hong Kong as a highly efficient, investor-friendly hub and Los Angeles as a region currently facing challenges in its business-friendliness despite its global fame.
What is the conclusion regarding the Rhine Main Region?
The author concludes that while the Rhine Main Region has strong fundamentals, it must implement a more consistent, long-term marketing strategy and focus on improving its image and competitiveness in areas like culture and quality of life to succeed internationally.
- Quote paper
- Christiane Mohr (Author), 2010, Marketing of Regions, Munich, GRIN Verlag, https://www.grin.com/document/199749
