Impact of Strong Global Brands of Cultural Institutions on the Effective Development of Regions in the Context of the Covid-19 Pandemic

Abstract

Research background: In the context of the coronavirus pandemic, when cultural objects were unable to function normally for a long time, their income has significantly decreased, and state support is not enough to implement strategic projects. This is due to a sharp decline in the incomes of the population of these countries and a prolonged shutdown of large- scale production, even the stagnation of entire sectors of the economy. Purpose of the article: The article is devoted to the problem of the formation of strong brands of cultural institutions, in particular, art museums and galleries and their impact on the competitiveness of the region. Methods: We use statistical, and regression methods for analysis, which are used to assess the mutual influence of traffic flows to museums and other cultural objects on the total income in the art market. Findings & Value added: The analysis showed that work on the image, strengthening the brands of cultural institutions, increasing the level of recognition in the world and close ties with recognized art-dominants in the future will allow cultural institutions to attract significant financial flows and improve their competitive position in the world market. As the scientific increment can be considered, the results of analysis the relationship between the strong brands of art museums and other cultural objects and the tourist attractiveness of their locations, as well as the mutual influence of cultural object brands on the territory’s brand. It is proposed to modify the methodology for evaluating the brand value in an art Museum or gallery.

State regulation of the art market: global trends, experience of various countries and prerequisites for regional economic growth

“…Hong Kong and China conduct strict state regulation of the art market. (Pashkus et al, 2021) In General, measures of direct state regulation are used in the implementation of aggressive propaganda and state marketing in the field of art. To a large extent, the measures of state regulation of the art market in these countries have a pronounced external character.…”

“…The rapid spread of digital technologies and the widespread use of network resources affect both the needs for the development of intangible assets, and the ways in which they are formed and the opportunities that they give to players in world markets. (Kamenica, 2017;Pashkus et al, 2021) the promotion strategies applied by the territories are implemented by means of modern digital technologies, and have a strong influence on consumer behavior, opinion on the effectiveness of processes and attitude to the events taking place in the territory. Since most of the information a modern person receives in the network, it is the correct coverage of information about the territory, aimed at the formation of attractive attributes, provide a level of recognition, recognition and loyalty to it, and everything connected with it.…”

The Impact of Covid-19 Pandemic on the Marketing of the Performing Arts

“…Whereas, most of the consumers of performing arts organizations segmented as the highest part of the society such as middle-aged, educated, and well-paid, therefore it was an advantage to reach out to their audiences effortlessly, and to plan sufficient digital marketing strategies. On the one hand, it was an advantage for performing arts organizations to organize online events because it made huge possibilities to watch their performances from all around the world, and also helped to boost the reputation and favorable image of the art world in the network sufficiently (Pashkus, Pashkus and Koltsova, 2021).…”

Problems of ensuring the competitiveness of the region in the conditions of COVID-19

“…As the experience of countries that are attractive for domestic tourism and are highly appreciated by their citizens shows, their high appreciation of local attractions and the conditions for visiting them has a positive impact on their global attractiveness. (Pashkus et al, 2021) However, this applies to tourism in its broad sense, excluding highly specialized areas of tourism, such as, for example, religious tourism. The attractiveness of places of religious worship of the local population may not be so high for foreign tourists or foreign tourists come to these places for other purposes.…”