Institutional frameworks of place marketing in Russia: Barriers and new possibilities

Abstract

The purpose of the work is to study the institutional frameworks of place marketing in the Russian economy and to determine the main barriers on the path of its development and possibilities for activation of marketing activity at the level of regional economy in modern Russia. The information and analytical materials include the strategies of socio-economic development of Russia’s regions (as analogs of the strategies of place marketing) and the data of the Global Competitiveness Report of the Russian Federation for 2016–2017 according to the World Economic Forum. The methodology of this work is based on the method of logical analysis, analysis of causal connections, structural & functional, systemic, and problem analysis, as well as synthesis, induction, deduction, and formalization. As a result of the research, the authors came to the conclusion that despite a high level of regionalization and completion of market reformation of economy, the level of competition at the level of regions and intensity of place marketing are low in Russia due to strong institutional barriers. An algorithm of institutionalization of place marketing in modern Russia is offered in order to increase it.