Monday, December 18, 2017

Economic Investment and Growth Through Marketing and Brand Management

As the world changes and becomes more integrated American businesses will need to improve and adapt their marketing techniques in order to reach different peoples from different places with different backgrounds. Furthermore, such regions that brand their image will not only help raise their local businesses global reach but also encourage greater investment in their area.

While companies continue to seek out new marketing opportunities to expand their reach local governments don't often think on this level. The process of creating a brand relies on the ability of local governments to think like businesses with their product being its current infrastructure, peoples, and local businesses. As they learn to master marketing techniques they will find their areas attracting clusters of businesses.

Thriving localities want to be known international to have the draw that is needed to improve their economic growth. An investor seeking to put money into self-driving cars should immediately think of Detroit or an investor thinking of putting money into biotechnology should think of San Diego. The brand of an area has actual value on the market in the same way as it does for companies.

Brand and Growth: The brand of each area should be focused on those key ideas that lead to growth. For example, Silicon Valley and technology, San Diego and Biotechnology and Detroit and innovative automotive industries. Such brands attract new investments when these industries are vibrant.

International Marketing: We no longer live in a domestic world and advertising location branding as well as advertising of products/services should adapt to new market realities. There will need be more sophistication in reaching different peoples, cultures and places.

Macro Trending and Big Data: Marketing in multiple international locations also means that companies will need to crunch data. Sophistication of market analysis techniques and technology will grow to find both individual and large market trends that help companies improve their current marketing practices.

Online Marketing: Because international marketing is difficult, expensive and clunky in traditional formats online marketing will continue to grow to meet emerging growth in mobile technology and Internet access.

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