What is Place Marketing? Definition, Meaning, Variables, & Examples

Place Marketing

Marketing plays a vital role in the growth of every kind of business.

Good marketing is the key to market success. It can set new strategies for new ideas and increase the demand for a product in the market.

In the present day, marketing is not only used for business to increase the sale of its products but also used for the advertising of different things.

Ex-Many writers use marketing to increase the sales of their books. Many hotel companies use marketing for the promotion of their hotels.  Places attract people, businesses, and resources. In this article, we will discuss the definition of place marketing.

Without any further do let’s get started.

Definition Of Place Marketing:

Place marketing is a kind of marketing strategy to do business in a particular place.

Taking it as a strategy marketers use its local attractions, cultures, business opportunities, economic and political power to attract people from different places of the world and invest their money in the business at that place.

The other names of Place marketing are place branding or place promotion. In modern days marketing is used for the promotion of a place.

The History of Place Marketing:

The concept of place marketing arrived in the mid of the 19th century. United states first use this concept to attract laborers from rural populations to urban centers.

Later this strategy of it was used by Europeans for tourism purposes.

The Benefits Of Place Marketing:

There are several benefits of place marketing

  • Helping to Improve the local business.
  • It also helps to attract foreign tourists and increase the number of tourists every year.
  • It indirectly helps poor and needy people to earn something.
  • Uplifting the development of the overall area. Tourism is one of the main sources of national income. So ultimately, place marketing helps a nation in his economic growth.

Some Parameters and Variables of Place Marketing:

Place Marketing
Place Marketing

Some parameters and variables of place marketing are,

Standard local service

If the local services are standard, then it will encourage the companies to invest their money in a particular place.

By standard local service, it will attract more tourists. Tourists always check the local service before visiting any place if it is good or bad. It is essential to have standard local service for the administration to create a favorable image of a place in front of tourists.

So in place marketing, it is essential that you have standard local service.

Tourism infrastructure

Different countries use place marketing as a weapon to promote their tourism and to increase the number of tourists every year.

Tourism not only helps to increase the economic growth of a country but also provides a way for the local people to earn something.

So you have to study about the target audience,

(A)How would they visit the place?

(B)would they travel with family or alone?

So in order to improve your place marketing, you have to improve your tourism infrastructure. For this reason, many countries spend thousands of dollars to improve their tourism infrastructure.

Destination videos

A video is a better way to promote a place. So the destination videos will be quite effective for marketing campaign.it will help to attract different companies to invest their money and effort in a particular place.

People and resources

Good quality people and resources are needed to attract companies to invest in a country. Companies require well educated and skilled employees to work with them.

A country like India ha a great number of trained, educated, intelligent workforce that can work with the companies. Resources are also a fact which foreign companies look before investing their money in a place.

Companies will easily invest their money in a place where the can easily found the resources (fuel, electricity, water, materials).

Business potential and ease of doing business

Many times the foreign companies face many problems to set up their business in a particular country.

For this reason, the countries have to modify their rules and regulations so that the companies could easily set up their business in the country.

If the rules and regulations are modified in a country for doing business at ease then it will more attract foreign companies.

In the world, New Zealand holds the first position of ease of doing business where India holds the position of 63rd at the ease of doing business. The rank of India has been improved from the last few years.

Creating a Website

By creating a website on google for a particular place it will promote the place. promotional pictures, videos, hotel rooms should be displayed on the website. This will help to attract more tourists and companies.

Examples of Place Marketing:

(1) One of the best examples of place marketing is Assam Tourism and Priyanka Chopra. She is the brand ambassador of it. Assam is famous for its culture and beautiful scenic beauty.

(2) Iceland is another best example of it. Iceland government ran marketing campaigns to attract more tourists. They have a tourism website where they post promotional pictures, videos, etc to attract more companies to invest their money there.

Conclusion:

Place Marketing is very important in every type of business. It not only helps to increase the economic growth of a country but also helps the poor and needy people to earn something.

What did you think of this? Do I miss something? Let us know if you want to add something to the list.

Place Marketing FAQ:

What is Place Marketing?

Place marketing is a kind of marketing strategy to do business in a particular place.
Taking place marketing as a strategy marketers use its local attractions, cultures, business opportunities, economic and political power to attract people from different places of the world and invest their money in the business at that place.

What are examples of place in marketing?

(1) One of the best examples of place marketing is Assam Tourism and Priyanka Chopra is the brand ambassador of it. Assam is famous for its culture and beautiful scenic beauty.
(2) Iceland is another best example of place marketing. Iceland government ran marketing campaigns to attract more tourists.

What are the variables of Place Marketing?

Some parameters and variables of place marketing are,
(1) Standard local service, (2) Tourism infrastructure, (3) Destination videos, (4) People and resources, (5) Business potential and ease of doing business, and (6) Creating a Website

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