A management approach for assessing the value of regional brands

Since the 1990s, place marketing and branding strategies are increasingly part of the regional public agenda (Pasquinelli, 2010). Many European regions have developed a branding strategy to distinguish themselves from others based on their unique material and immaterial assets and the image they communicate (Rochette, 2012). Thus, regions become more dependent of their ‘cultural load' and of the sense of belonging they are able to create, not only among visitors, but also among entrepreneurs, investors and inhabitants (Horlings, 2012). As there is not yet a generally accepted way to measure the benefits of place brands (Florek, 2015), our objective is to develop a tool for assessing and monitoring the value of regional brands considering specific governance characteristics and stakeholders involved. The Sud de France regional branding case in the Languedoc-Roussillon in France is used. This place brand has been launched in 2006 by the former president of the region in order to promote mainly local wines, typical food products and tourism services. First, based on stakeholder theory (Freeman, 1984) and a power-interest matrix (Ackermann and Eden, 2011), key stakeholder groups of the Sud de France brand are identified. These include the regional government, food and tourism enterprises, residents and consumers. Thereafter, via a series of qualitative interviews, a set of indicators of place brand value is established which correspond to the perceived or expected brand benefits of the four main brand stakeholder groups. The key indicators per group are presented in form of a balanced scorecard which may serve as management and monitoring tool for assuring the brand performance and for regularly controlling its match with the stakeholders' expectations. The study of the Sud de France brand shows that regional brands can have different value dimensions and offer various benefits for multiple stakeholders at the same time. Apart from their economic value related to the competitiveness and performance of local actors and the economic development of a place, regional brands have the potential to create social and environmental value by valorising and protecting the cultural and natural heritage, by stimulating a common regional identity and enhancing the overall quality of life.