Available via license: CC BY-NC
Content may be subject to copyright.
Baltic Journal of Economic Studies
326
Vol. 4, No. 4, 2018
Corresponding author:
1 National Aviation University, Ukraine.
E-mail: s_f_smerichevsky@ukr.net
2 National Aviation University, Ukraine.
E-mail: tatiana.kniazieva2017@gmail.com
3 International Humanities University, Ukraine.
E-mail: mgu@ukr.net
DOI: hps://doi.org/10.30525/2256-0742/2018-4-4-326-333
ASSESSMENT OF MARKETING ACTIVITY
MANAGEMENT IN TERRITORIAL UNITS:
THEORETICAL-METHODOLOGICAL APPROACH
Serhii Smerichevskyi1, Tetiana Kniazieva2, Atia Walid3
Abstract. The subject of the study is a set of theoretical and methodological aspects of the development of
organizational and economic relations that arise in the process of interaction of economic subjects while shaping
the potential of territorial marketing as a factor of its socio-economic development. The purpose of the study is
to substantiate the methodology for assessing the integral indicator of the territorial marketing functioning.
The methodology of the presented study of marketing management in territorial units is based on the multivariate
assessment of various economic entities that clearly shows the priorities and unevenness in the areas’ development.
Area economic entities themselves are interested in the area development and determine the direction of area
development. Economic entities’ direct residence and economic activity conducted by them in the area should
be taken into account. This makes them serious experienced experts who are really interested in the eective and
rapid development of their area. Economic entities themselves determine the measurable criteria for assessing the
directions that they were originally oered. The “brainstorming” is used where the experts in the area development
are involved. There is a joint process aimed at obtaining the most concrete and measurable results that actual state
is assessed from 0 to 10 by the process participants based on personal observations and statistics. The evaluation
of marketing results is based on the multicriteria socio-economic approach. The evaluation criteria should include
the economic mechanism formation. This mechanism provides an eective interaction of market institutions and
business entities in the area; selection of wholesale and retail organizational and economic forms, nancial and
credit and business services, as well as organizational and legal forms of trade and economic interregional ties; the
markets system creation that is based on the priority provision of consumers and small owners interest; the choice of
the most eective channels for goods movement, transportation, warehousing, material, nancial, and information
ows rationalization. The methodology for estimating the integral indicator of territorial marketing functioning that is
presented in the work is based on the next indicators: nancial stability, business activity, protability, technical and
technological stability, social sustainability, environmental sustainability that allows monitoring the functioning of
the territorial marketing system. This methodology is universal since it allows evaluating areas of dierent industrial
orientations and comparing them in order to identify the greatest functioning stability. Methodology for marketing
research of areas potential is based on the system approach, complex consideration of conceptual principles of
areas’ marketing potential formation and development; key features of territorial marketing allow carrying out
purposeful actions for the sustainable development of area marketing potential, within the framework of which
the conditions of its formation are determined, and their aggregate acts as a point of growth of market marketing
component of the economic potential of the territory and is the basis for constructing the model of infrastructure
of the marketing potential of the territory, used to make sound and balanced management decisions; developed
a methodology for assessing the integral indicator of the functioning of territorial marketing. Research conclusion:
grounded methodology of research of territorial marketing potential that is based on the system approach,
complex consideration of concepts of area marketing potential formation and development. The key features of
territorial marketing are distinguished that allow carrying out purposeful actions for the stable development of the
area marketing potential, within the framework of which the conditions for its forming are determined, and their
complex serves as a point of growth of market marketing component of the area economic potential and is the
Baltic Journal of Economic Studies
327
Vol. 4, No. 4, 2018
basis for the creation of the infrastructure model for the area marketing potential that is used to make substantiated
and balanced management decisions; a methodology for assessing the integral indicator of territorial marketing is
developed.
Key words: territorial marketing, area marketing potential, regional policy, sustainable economic development,
strategic planning of territorial marketing.
JEL Classication: М31, О38, R58
1. Introduction
Growing role of territorial marketing areas and
changes in the strategies of territorial management
are associated with a number of factors: change in
the philosophy, principles, objectives of the area
development, identication of the population as a real
participant in the system of area planning, as well as
change of the area authorities nature who become the
main responsible persons for the area socio-economic
development, including its improvement, safety and
social protection of the population. e problems of
territorial marketing are extremely relevant in Ukraine
as far as they relate to such important areas as state and
local government, investment aractiveness, European
integration, competitiveness and strategic development
of regions. e implementation of a regional policy
aimed at eliminating disproportions between regions
and their integrated development is strategically
important for Ukraine. A progressive change in the
socio-economic structure of the region that ensures the
economical use of its resources and best satisfaction of
area production needs means the development of the
region.
Territorial marketing allows to look at the territorial
unit from the point of view of its consumer value and,
therefore, takes into account the needs and interests
of the population. Territorial marketing becomes an
integral part of the expanded reproduction process of
area economic entities that is related with the production,
promotion, distribution, and sale of products produced
within the economic, geographical, and natural specics
of certain territorial units. Development of territorial
marketing that is involved into the production process
and goods and services circulation requires the study
of the modern marketing theory, methodology and
practice, as well as its consideration through the prism
of economic entities’ interests which are an integral
part of the algorithm of decision-making. All it allows
to purposefully aect the consumers’ behaviour and
stimulation mechanisms.
Among domestic researchers of this theme,
A. Anoshkin, L. Gr ishina, R. Kozhukhіvska, E. Popkova
and others should be called. Many domestic works
relate mainly to the role of marketing in increasing
the investment aractiveness of regions, but more
and more aention researchers pay to use of Internet
technologies in marketing. Leading foreign specialists in
territorial marketing are: F. Bencherif, P. Buonincontri,
Ph. Kotler, S. Anholt, Z. Megri, S. K. Rainisto, and
others. Foreign researchers of territorial marketing pay
the main aention in their works to the dierentiated
features of areas as a marketing object in comparison
with goods and services, branding and the image of
territories (countries, regions, cities), their impact
to the socio-economic development, development
strategies and tools of marketing of a particular area,
global and local dimension of territorial marketing.
Almost all cases are considered by authors in the
context of the strategic development of promoted
city or region. Practical recommendations for the
planning and implementation of marketing campaigns
are connected with the integrated approach to the
management of the area and various aspects of its
development.
erefore, the goal of this article is to systematize
domestic and foreign theoretical and methodological
aspects of organizational and economic relations’
development that arise in the process of economic
entities’ interaction while forming the area marketing
potential as a factor for its socio-economic development
and the methodology for assessing the integral indicator
of territorial marketing functioning that is based on this
justication.
2. eoretical and methodological principles
of territorial marketing development
e genesis of marketing is determined by the policy
of the enterprises located on the territory, aimed at the
sale of products manufactured with minimal costs. In
the transition process from a decient economy to the
society of plenty, the need for a systematic search and
development of new markets is growing. At the same
time, marketing serves as a denite concept for the
enterprise management and employees, the specic
territorial unit authorities.
First of all, territorial marketing assumes taking into
account the area’s needs and interests in the pursued
regional policy. In this case, it is a certain territory,
designated by the territorial unit limits or entities
that are a part of a single economic space. e unied
economic space assumes goods, services, money free
movement, as well as the free movement of labour
within the boundaries of the territory; common
language, land and capital that are necessary for a set
of welfare production.
Baltic Journal of Economic Studies
328
Vol. 4, No. 4, 2018
Territorial marketing signicantly diers om enterprise
marketing, namely:
1) there is a wider range of marketing technologies that
are used as far as the content of territorial marketing is
complex;
2) territorial marketing is carried out on the territory
dened by the boundaries (administrative, geographical,
economic, informational and other), within which
there are enterprises and organizations. e totality
and functioning of enterprises and organizations create
a single economic space that requires appropriate
economic and organizational interaction: socio-
economic integration, share co-nancing, the creation
of temporary creative groups or other forms of
management;
3) enterprise marketing focuses on the choice of
the optimal distribution channels, the main task of
territorial marketing is to search, create, and advertise
such advantages of a territory that could be interesting
for the potential labour force, investors, shareholders;
4) on any local territory, there is the concentration and
intersection of economic interests of area population and
subjects that live outside the area while it is necessary
to recognize the parity (equality) of the interests of all
subjects – the carriers of economic interests. Orientation
to meet the needs of the indigenous population or those
who permanently reside in the territory requires their
interests to be prioritized that leads to inconsistency of
interests and becomes the basis of the contradictions
that require special measures for solving;
5) competitive advantages of the territory may not have
value form that causes the diligence work to create the
image of the territory as a special product.
e elaboration of territorial marketing development
strategy is based on a number of prerequisites (Bagautdinova,
2012; Chandler, 2015; Isoraite, 2009; Runielt, 2014):
– rstly, it should be considered that the area has its
own history and industrial structure including the
industrial and social infrastructure that can and should
be used for strategy development;
– secondly, the trajectory of the area development must
be taken into account both in the historical retrospective
and in the planned perspective. It can be achieved
through the denition of possible “growth zones”, which,
in turn, assumes accelerated development of industries,
sub-sectors or individual productions; determining the
main directions for innovative development; reduction
of the production of certain products, which may occur
for various reasons (aging, resource base exhausting,
etc.); accounting of direction of capital overow and
diversication, and so on;
– thirdly, the work over complex and targeted regional
development programs should be based on the mono-
structure of the industry of domestic cities (especially in
the mining and heavy industry). In such conditions, the
accelerated development of light industry and services,
including business services will be the purpose of these
programs. In this regard, special aention should be
paid to supply management as the most important
component of the market.
Consequently, the essence of territorial marketing
is based on socio-economic, investment-innovation,
organizational and economic, institutional relations
that are dominant in society. Certain requirements are
puing forward to these relations:
– socio-economic relations – property relations,
labour relations, economic interests forming, income
distribution, national relations forming, social services
distribution;
– organizational and economic relations – management
and control, functions delegation, resources
allocation, incentives, cooperation and specialization,
regionalization;
– institutional relations – legal, normalization, external
eects, contract, transaction costs;
– investment-innovation relations – between demand
and supply, between investors and subjects of the
territory, between households and the state, between
the business and the state, between market availability
and potential sellers.
3. Area marketing potential and conditions
for its forming
Forming the area as an independent socio-economic
entity assumes the creation of the potential, which will
eectively form, correct, and develop the economy of
the area. e area potential, from the marketing point
of view, is understood the system of interconnected,
interdependent, and interacting factors that provide
an eective and progressive area development both
nowadays and in the future. e combination of factors
that characterise the area potential can be divided by
a number of features:
– on a spatial basis, one distinguishes internal potential
(that is, factors inherent in the region) and an external
one (factors that operate in the region);
– on a temporary basis, territorial marketing is divided
into the existing potential (area’s resources) and possible
(factors that can be used in the future or reserves);
– by genesis, the area potential is divided into natural,
economic, and social. Eect of natural, economic
and social factors on the regional development can
be considered as one of the methods of conscious
regulation of the regional reproduction territorial
proportions in accordance with economic laws.
e area potential has a complicated hierarchy
structure. In the most general form, it can be divided
into natural, economic, social, human, national.
e potential forming is determined by the specic
conditions, which together give impetus to the
development of the marketing component of the areas’
potential, such as: raising the level of education and
self-education, material incentives, personnel training,
Baltic Journal of Economic Studies
329
Vol. 4, No. 4, 2018
social benets, moral stimulation, working conditions,
income, unemployment cuing, raising life level and
quality, ecology, economic indicators of households, etc.
(systematized by (Isoraite, 2009; Simeon, Buonincontri,
2011; Chandler, 2015)).
Any territory existing in a competitive environment,
regardless of its size, is forced to promote itself.
e inuence of various factors assists or does not the
promotion in the local and foreign markets that form
the marketing potential. Despite the deep economic
crisis, reforms and transformations that take place in
the country ensure forming competitive environment.
In this regard, the behaviour of all economic entities
is largely conditioned by rigid competitive conditions,
which are formed both at the level of the country as
a whole and at the level of specic regions, and therefore,
the marketing component comes to the fore, providing
a systematic development of the region.
As a result of all the above, it can be articulated that the
area marketing potential is a set of natural, economic,
social, national, human (labour, demographic) resources
that ensure sustainable socio-economic development of
the territory, its competitiveness and positioning in the
domestic and world markets on the basis of expanded
reproduction in accordance with economic laws.
However, it should be noted that the promotion of
the area under the absence of its potential, arrangement,
without creating the appropriate investment
and innovative climate, and a number of other
prerequisites are an ineective business. In other words,
the arrangement of the territory, its compliance with
the public level of needs satisfaction are important
prerequisites for the area competitiveness, its potential
forming and development, without which to go to the
marketing research is at least irrational. In this case,
achieving the desired eect is unlikely. All factors that
may inuence the formation and development of the
marketing potential of the territories should be taken
into account (Figure 1).
e presented groups of factors clearly reect the
peculiarities of the area marketing potential formation.
erefore, external factors that shape the objective
prerequisites for development must be taken into account,
but the impact on them is dicult. At the same time, internal
factors mainly related to general arrangement, controlled
territories, and the possibility of their improvement and
development are obvious, especially in the framework
of the innovative process, an increase of investment
aractiveness, the creation of competitive jobs, etc.
4. e infrastructure
of areas marketing potential
In order to make reasonable and balanced decisions,
it is necessary to monitor the trends of transformational
shis in the form of market research, despite the
recognized inertia of the area structure. In each specic
territory, the infrastructure peculiarities form its
marketing potential; it is just a reection of such shis.
e inastructure of the areas marketing potential
consists of three blocks (Bagautdinova, 2012; Popkova,
Dubova, 2013; Runielt, 2014):
– block І – social infrastructure: population service,
education infrastructure, health infrastructure,
FACTORS FOR FORMING THE MARKETING POTENTIAL OF AREAS
Internal Factors
External Factors
Level of education
Experience
Management style
Population income level
Labour motivation management
The volume of investment in
human capital development
Progressive forms of labour
organization
Safety and labour protection
State regional policy
The system of personnel training
and advanced training
New jobs creation
The demographic situation in the
region
Social policy that provides social
benefits
State of the city and the
countryside infrastructure
Quality of population life
Scientific and technological
progress
State of the labour market
Marketing
Potential of
Areas
Improving the quality of
life of the population in
territorial units
Figure 1. Factors of areas marketing potential forming
Source: compiled by the authors (Isoraite, 2009; Simeon, Buonincontri, 2011; Anoshkin, 2014; Popkova, Dubova, 2013))
Baltic Journal of Economic Studies
330
Vol. 4, No. 4, 2018
consumer services infrastructure, public transport
infrastructure, culture, sport, and leisure facilities;
– block ІІ – market institutional infrastructure:
managing subsystem, organizational subsystem,
material subsystem, information subsystem, credit and
nancial subsystem, personnel subsystem, regulatory
subsystem, other (marketing organizations, leasing,
innovations, etc.);
– block ІІІ – industrial infrastructure: enterprises-
producers, all types of transport, reservoirs, water
supply, electricity, gas supply, heat supply, inter-branch
and city heat networks, product quality systems.
e process of infrastructure formation and
development is a combination of three blocks, each of
which is necessary, important, and prone to changes.
Especially large number of transformations due to the
objective factors and the exibility of processes occur
in market institutional infrastructure, where the largest
number of factors and regular and objective shis take
place. e inuence on these shis of new and changed
economic interests of various economic entities is
denitive. In addition, the interests of international
business inuence the areas’ potential development,
which is also facilitated by processes that have begun
and entered into force over the years of economic
transformation. ese considerations allow making the
following conclusions about territorial marketing:
1. e need to form the areas marketing potential
and to usefully use its toolkit for diagnostic of the area
state, the availability of competitive advantages and
a generalization of the assessment of area economic policy.
2. e use of marketing tools and techniques that
lies at the crossroads of regional economics and classical
marketing cannot be considered a universal tool.
If the area does not have, for example, transport
infrastructure, marketing methods are very narrow.
3. Diagnostics of the area state through the
prism of territorial marketing allows deeply and
comprehensively analysing the problems of the area
or territorial unit, ranking the tasks, identifying the
contradictions and ways (methods) for their solution
that will increase the area marketing potential. In other
words, the complex use of marketing methods assumes
the creation of certain prerequisites for widespread use
of marketing tools in shaping the area potential.
Each area has many organizational and legal forms,
a diverse range of resources, markets, potentials, and
a variety of tools and opportunities. e territorial
marketing research allows seeing more clearly the
features and possibilities of each territorial formation,
outlining the future as a separate area, as well as the
directions of its possible integration processes, including
integration to the international sphere.
e contradictions, which are the inconsistencies of
interests at the regional level, are the most important
prerequisite for developing the territorial marketing
programs that shape its potential. It should be
emphasized that territorial marketing contributes to the
solution of emerging contradictions. It happens oen
indirectly due to the accounting of the most important
aecting factors and scrupulous everyday work to
establish the regional management mechanism.
5. Methodology for the assessment
of territorial marketing functioning
In today’s economic conditions that are characterized
by complete economic independence of areas and
responsibility for their livelihoods, as well as the
uncertainty of external environmental factors, the main
condition for their survival is to increase the eciency
and sustainability of functioning. e mechanism of
territorial marketing stable functioning should promote
in the best way area’s autonomy and goals. In this regard,
there is an objective need to develop tools for assessing
the stability of the areas’ functioning, including the
impact of the marketing system. is will provide
an eciency increase and functioning stability and
justify the practical signicance in modern conditions.
e following basic indicators of the sustainable
functioning of territorial marketing can be integrated
into the system under their evaluation:
– nancial stability: equity, debt-to-assets, leverage,
interest coverage, long-term investment security, capital,
current assets to equity, current ratios, equity multiple;
– business activity: ratios of capital turnover, inventory
turnover, return on assets, sustainable growth, receivables
turnover, nished goods turnover, working capital turnover,
equity capital turnover borrowed capital turnover;
– protability: ratios of return on assets, equity, current
expenses, borrowed capital, xed assets turnover, prot
margin;
– technological stability: ratios of suitability, renewal,
and growth of xed assets;
– social stability: ratios of sta stability, average wages
in the enterprise to the average wages in the industry,
the provision of normative working conditions;
– ecological stability: ratios of warehousing, charges for air
pollution by stationary objects, charges for air pollution
by mobile objects, above-limit pollution payment.
is system completely reects mathematical
processing of the results of the areas integrated stability.
To achieve the ratios’ homogeneity, known method of
normalizing the zero and negative values of the ratios is
used. e method involves calculation of the normalized
value of the negative ratio. e formula for determining
the standardized value of each ratio looks like this:
K
K
K
N
n
=
max
, (1)
where
Kn
– standardized value of ratio that reects the
state of enterprises in the nth analysed area;
K
ma
x
– the maximum value of ratio that is taken
as standard;
K
N – value of the ratio of enterprises in the nth territor y.
Baltic Journal of Economic Studies
331
Vol. 4, No. 4, 2018
Aer determining the standardized ratios included
in the corresponding generalized index, in the frame of
this methodology, all the above indicators are combined
into a single integral indicator. is indicator allows
making a conclusion about the possibilities of surveyed
enterprises’ further development and is determined by
using the expert evaluation method taking into account
indicators heterogeneity:
Ka
A
n
n
i
ag
g
int
=×
=
∑
1
, (2)
where
K
in
t
– integral performance indicator;
a
n – the weight of the nth generalized stability index in the
integral one, determined by the expert evaluation method;
A
ag
g
– nth aggregate indicator of nancial stability,
business activity, protability, technological,
organizational, social, and environmental sustainability;
n
– the number of generalized indicators that
determine the integral functioning stability.
e proposed methodology is universal since it allows
evaluating the areas of dierent branch directions
and comparing them with each other in order to
identify the greatest functioning stability. It also gives
an opportunity to determine the dynamics of area
functioning stability and to identify separate reserves
of its growth for determining its ability to adapt to
environmental changes. e application of a exible
calculation algorithm allows concluding that the area
potential is sucient for the analysed period of time.
In Figure 2, the model of planning and management of
territorial marketing is presented.
When constructing the model, an aention is focused
on the program-target approach and methods of system
Mission, strategic
goals and objectives,
the activity
of area
economic entities
Legal regulation and
control system
forming
Analysis of
production and
resource potential
of
area economic
entities
Assessment of
personnel potential of
area economic
entities
, management
formation
SWOT-and STEP-analysis of business processes of area economic entities
Conceptual aspects development for marketing activity development.
Objective: to determine directions of state policy in the field of economics and to identify and
evaluate development trends in the markets of different levels
Creation of a unified
commodity circulation
system for the local area on
the basis of long-term
contracts and a flexible
pricing system
Unification and
standardization of production
and business processes
between suppliers and buyers
Internal organizational, trade
and economic relations
transformation on the basis of
interest in achieving goals of
area economic entities
Creation of unified information exchange system based on principles of algorithmization in
marketing planning
STRATEGIC MARKETING PLANNING
Carrying out complex marketing research for area market forming and
functioning by the segments of economic entities and consumers,
commodity range, etc.
Creation of marketing plan implementation programme
ESTIMATES OF AN OVER ALL PER FOR MANCE INDIC ATOR OF TERRITORIAL
MA RK E TI NG
Marketing plan adjustment for socio-economic development of territorial units
System analysis, control,
evaluation of implementation
effectiveness
Figure 2. Model of territorial marketing planning and management system
Source: improved by the authors (Grishina, Yemova, 2011; Kozhukhіvska, Parubok, Petrenko, 2017;
Isoraite, 2009; Megri, Bencherif, 2014; Venter, Jansen van Rensburg, 2014))
Baltic Journal of Economic Studies
332
Vol. 4, No. 4, 2018
analysis. e complex nature of the model assumes
the use of various tools and mathematical methods for
representing marketing process objects. e developed
model relates to the organizational-economic group
of models. It allows optimizing the parameters of the
measures in all phases of the marketing process in
accordance with the given criteria, which contributes to
solving the target task of marketing planning.
Taking into account the synergetic eect of marketing
tools in the enterprises of the area and suggestions
on the marketing planning system, it is oered to pay
a particular aention to the complex use of marketing
tools for planning the economic activity of the area
subjects in goods and services design, production, and
circulation, taking into account the peculiarities of
existing and future state policy.
6. Conclusions
e theoretical comprehension of the socio-
economic foundations of territorial marketing allows
making conclusions about the development of the
general theory in the direction of its formation given
the historical and practical preconditions regarding
the area independent development within individual
territorial formations, their associations, interconnected
megapolis elements and interterritorial associations, the
operation of territorial production complexes.
In the article, territorial marketing means a set of
territory (territorial unit) management principles in
order to achieve sustainable economic development,
complete realization of economic interests of its
population and means or methods for creating
opportunities and conditions for aracting potential
and real participants of transactions, which are carried
out in this area and by area subjects. e development
of territorial marketing strategy is based on a number
of prerequisites: history and industrial-production
structure survey; denition of possible “growth areas”;
increased aention to the oer management as the
most important component of the market. Territorial
marketing is based on socio-economic, organizational
and economic, and institutional and economic
components of public relations and has its own
requirements for these relations.
ere is the dierence between enterprise marketing
activity carried out in a certain area for the promotion of
the company’s products and territorial marketing carried
out in order to promote it within a single economic space,
which includes not only the territory of the country but
also the international aspects of the territory’s functioning.
For this purpose, commercial and non-commercial
marketing is used, as well as all its types and varieties,
because the essence of territorial marketing is complex.
In any limited area, there is an intersection, localization,
and polarization of economic interests of both the
population of this area and those who live outside it.
is is an objective precondition for the inconsistency of
interests, the emergence of contradictions, and the search
for ways for their harmonization.
e conditions for forming the area marketing
potential, its essence, functions are explored and
formulated; the infrastructure model is oered; features
of forming the model in industrial, social, and market-
institutional spheres are highlighted. e method of
integral indicator estimation for territorial marketing
stable functioning, where indicators of nancial
stability, business activity, protability, technological,
intellectual, social, and environmental sustainability are
used, is proposed.
References:
Anoshkin, A. (2014). Marketing territorii v internet-prostranstve [Marketing of territory in the internet-space].
Problemy sovremennoi ekonomiki, 2, 273-275.
Bagautdinova, N. (2012). e regional development strategy based on territorial marketing (the case of Russia).
World Applied Sciences Journal, 18(18), 179-184.
Bendle, N. T., & Wang, X. S. (2017). Marketing accounts. International Journal of Research in Marketing, 34,
604-621.
Black, John, Hashimzade Nigar, & Myles Gareth (2009). A Dictionary of Economics. Oxford University Press.
Retrieved from: hp://www.oxfordreference.com/view/10.1093/acref/9780199237043.001.0001/acref-
9780199237043
Chandler, A. D. (2015). Strategy and Structure. Cambridge MIT Press, 480 p.
Grishina, L. O., Yemova, G. V., Grishina, N. V. (2011). Assessment of the region economic potential while shaping
its development strategy [Otsinka ekonomichnoho potentsialu rehionu pry formuvanni stratehii yoho rozvytku].
Scientic notes Kirovohrad National Technical University. Economic sciences. Retrieved from: hp://nbuv.gov.ua/
UJRN/Npkntu_e_2011_19_17
Isoraite, M. (2009). eoretical aspects of marketing strategy. Ekonomika ir vadyba: aktualijos ir perspektyvos,
1(14), 114-125.
Kozhukhіvska, R., Parubok, N., Petrenko, N., Podzihun, S. and Udovenko, I. (2017). Methods of assessment of
eciency of creating regional innovative clusters for dynamic development of economics. Investment Management
and Financial Innovations, 14(3), 302-312. doi:10.21511/im.14(3-2).2017.01.
Megri, Z., Bencherif, F. (2014). e eect of territorial marketing on city image valuation: an exploratory study
in Algeria. International Journal of Marketing Studies, 4(6), 145.
Baltic Journal of Economic Studies
333
Vol. 4, No. 4, 2018
Popkova, E. G., Dubova, Ju. I. and Romanova, M. K. (2013). Designing the territorial marketing strategy on
the principles of cluster policies. World Applied Sciences Journal, 22(4), 571-576.
Runielt, R. P. (2014). Strategy, structure, and economic performance. Boston: Harvard Business School Press, 462 p.
Simeon, M. I., Buonincontri, P. (2011). Cultural event as a territorial marketing tool: e case of the Ravello
Festival on the Italian Amal Coast. Journal of Hospitality Marketing & Management, 3-4(20), 385-406.
Schubert, T. (2010). Marketing and organizational Innovations in entrepreneurial innovation processes and their
relation to market structure and rm characteristics. Review of Industrial Organization, 2(36), 189-212.
Taraniuk, K . V. & Taraniuk, L. M. (2016). Methodological basis of risk management system with regard to industrial
activities in the course of radical transformations. Economic annals – ХХІ, 156(1-2), 67-70.
Venter, P. & Jansen van Rensburg, M. (2014). Strategic marketing: theory and applications for competitive
advantage. Oxford University Press.
Voynarenko, M. P., Bohatchyk, L. A. (2014). Cluster tools usage for subregional strategies development to
improve the competitiveness of regional economy [Vykorystannia klasternoho instrumentariyu pry rozrobtsi
subrehionalnykh stratehiy pidvyshchennya konkurentospromozhnosti ekonomiky rehioniv]. Aktualni problemy
ekonomiky. Retrieved from: hp://nbuv.gov.ua/UJRN/ape_2014_8_22
