The importance and phases of the place branding process

Abstract

The aim of this paper is to point out to the importance of place branding and phases of the branding process in order to attract quality human resources, greater number of visitors, tourists, investments, companies and events, achieve bigger sales and find new sales channels to sell products and services. The primary aim of branding is to provide better competitive position for a place on a global level as a unique and irreplaceable location. However, branding is a long-term strategic venture which requires significant investments in terms of finances, time, knowledge and effort. All of the stated indicates that identifying and understanding key characteristics of the phases of the branding process, which are the focus of this paper, is particularly important for successful development and implementation of the branding strategy.