SUCCESS FACTORS OF PLACE BRANDING: A Study of Place Marketing Practices

Professor Philip Kotler: “This study will help places move from a haphazard approach to competitive marketing to a more systematic, efficient and effective approach.” The aim of this article is to evaluate which are the critical success factors in place marketing and place banding, and how these factors could be utilised in place development. A theoretical framework for “branding focused ” place marketing was developed, and tested in the empirical research. The focus is on business marketing of places, and on the foreign inward investment agency activity, in particular. The theoretical framework consists of nine various success factors for place marketing and branding practices. The specific success factors are: Planning group