Place branding matters today because in a single global marketplace of instant global communications and increasingly widespread democracy, the opinions of populations count as much as the opinions of elites mattered in the past. Why Brand Places?
As a consequence of expanding globalization, the need for place branding is more important than ever. It attracts investment, tourism, and is a valuable tool to create a reputable name for a specific place. Having a positive and powerful place brand is necessary to compete with other nations, states, regions and cities. Types of Brand Places
Nation Brands: Nation Brands studies six verticals to determine the overall brand power of a specific country. Those six verticals include tourism, people, culture, investment/immigration, exports, and governance (http://www.nationbrandindex.com/). Regional Brands: Similar to Nation Brands, Regional Brands studies how others think about specific regions' tourism, people, culture, investment/immigration, exports, and governance. State Brands: State brands are vital in attracting investment opportunities and tourism through the allocation of a nation brands overall brand. City Brands: City brands are important in attracting investment opportunities, tourism and creating a reputable name. Depending on the size of the city, city brands must be studied at both the local and international levels.
Good branding can assist in making cities desirable, just as bad branding can assist in making cities undesirable. While some cities have prospered over the years, others have suffered. In what way does the city brand make a difference? A city must have good qualities in order to brand itself successfully, but a myriad of factors are involved. If a city is to be considered a brand, it must start with a brand's most important characteristics; its fundamental properties. This means...