National Branding

Jurica Kis

• Publisher: GRIN Verlag
• Year: 2008
• eBook ISBN: 9783640218233
• Edition: 0
• Topic: Business
• Subtopic: Leadership
• Index: Business

Seminar paper from the year 2008 in the subject Economy - Theory of Competition, Competition Policy, grade: 1, 3, LMU Munich (Volkswirtschaftliche Fakultät), course: Economic Geography, language: English, abstract: The globalization, describing the process of the increasing linkage between countriesdue to modernization, is the formative phenomena at the present. Whereas for theconsumer this development leads to an enlarged range of products and services tochoose from, for the supplier this means an increased competition. Companies haveto install subsidiaries all over the world, in order to participate in this globalizedcompetition. But not only companies face this strongly competitive structure, nationsalso deal with this problem. They have to find right answers for questions like: "Whyshould a company invest in our country?", "Why should a tourist visit our country?" or"Why should someone want to live in our country?" (Association for Place Brandingand & Public Democracy 2007a, date of retrieval: 06.06.2008). A significant answerto these questions can be provided by the image of the nation, since every nationhas its perception, history and culture, being responsible for the formation of animage. According to this image, people have associations about a nation, whichinfluence them in their decision making process. These associations might notalways be positive, especially in times when the image is for example incorrect oroutdated (Anholt 2006a: 98). Then the image is no longer able to support the nation'seconomical, political or developmental goals.In order to avoid this, nations have to find new ways to promote themselves, and toattract the attention of people, might they be tourists, high potentials or investors.One of these new ways is National Branding. A concept, that already proved itspositive effect on products by increasing the sales volume and the customerretention, seems to be the right idea for nations to face this challenge.The following paper deals with the difficulty of adopting the concept of branding forthe national level, and thus to attract the nation's target group and to mark a decisiveadvantage over other nations. The approach is based on a theoretical and practicalchapter about National Branding, and closing up with a possible future developmentand a conclusion.