The Prospects for the Development of Territorial Branding in the Context of the Experience Economy

Abstract

The article explores the phenomenon of branding territories in the context of experience economy in its active development in recent years. The relevance of the study stems from a number of reasons. Firstly, there is a need for scientific and practical models of the best development practices of the regions of the Russian Federation. Secondly, the competent branding policies are required in order to revive and develop small towns, as well as to prevent the outflow of employable population to cities. And finally, there is an importance in understanding the impact of experience economy tools on the branding of territories. The subject of the study is territorial branding as one of the forms of the experience economy realization. The purpose of the study is to reveal the process of development of territorial branding in light of the experience economy. The works of local and foreign scientists, as well as materials from specialized websites, online publications on marketing strategies and tools of the new economy are taken into account. Based on a review of the scientific literature, which presents approaches to understanding the specific features of territorial branding and the importance of impressions for customer loyalty, the practical recommendations are offered for the Russian Federation. Promising strategies for forming brands of territories through the use of experience economy tools have been identified. The practical implications and scientific value of the article is in the formulated proposals for improving territorial branding.