A place brand strategy for the Republic of Armenia: ‘Quality of context’ and ‘sustainability’ as competitive advantage

Abstract

Environmental quality makes good business sense, particularly in remote and marginal contexts like Armenia. Certain enforceable environmental quality standards may prove to be crucial in order to create a distinct place brand that can penetrate the upper niche of global markets. The aim of place branding should be to draw visitors and investors, to enhance social cohesion and to pursue a substantial and holistic sustainability by turning the ‘quality of context’ into competitive advantage in international business. It is proposed that the business community and governments of remote areas like Armenia collaborate to adopt a clear and compatible place brand strategy, which may eventually add extra value and a new dimension to all their products and services. In the case of Armenia ‘place branding’ means requalifying the habitat and designing a distinct country image, replacing the popular perception of its remote and trouble-prone ex-Soviet-client status and making a clear case for its distinctive qualities, human capital, landscape and cultural heritage. If properly positioned in the world market the place brand (a certain ‘Wonder-full Armenia’) may ultimately triumph as a special tourist destination as well as a particular kind of business environment. Creating such a place brand strategy calls for collaborative, interdisciplinary research to design an imaginative economic policy and, of course, a strong political will to implement it.