Plant location and place marketing: understanding the process from the business customer's perspective
Résumé
In the past decade, there has been an increased interest in place marketing, especially as countries and locations have been spending more money to encourage firms to locate their offices and plant locations in the place marketer's area. In this paper, we examine the place marketing from the perspective of the marketer and that of the business customer, specifically in the area of communication and information distribution (in the era of the Internet). In literature, place marketing strategies vary from the very simple to the very sophisticated. Through examination of present marketing and communication practices of place marketers, we find that these strategies are unplanned or “seat of the pants.” We also find that the primary reason for the lack of deliberate and targeted strategies is a lack of understanding of customer decision-making processes. We suggest that only by understanding differences in business customer segments of the market can place marketers become more efficient and effective in winning plant placements. Using data from business customer decision-making processes, we attempt to close the knowledge gap.