Country Marketing: A Policy to Boom Business and Economy

How to use marketing policy to boom a country’s business and its impact on economy are the objectives of this article.

‘Marketing is an art of relation’ is explained in the article ‘Marketing: An Art of Relation or Deception’. Then, how a country could be related with marketing? How could it be boomed the business of a country? How could it impact on economy?

 

 

What is Country Marketing?

In 2001, Harvard Business School published an article ‘Marketing a Country: Promotion as a Tool for Attracting Foreign Investment.’, written by Louis T. Wells & Alvin G. Wint, where “Using marketing tools and techniques to attract foreign investors is a common practice for many countries. But finding the right mix of techniques and organizations to do the promotion is key to successful marketing programs.” [https://hbswk.hbs.edu/item/marketing-a-country-promotion-as-a-tool-for-attracting-foreign-investment]

 

 

In the book ‘Proceedings of the 1997 World Marketing Congress’, pp (606-613), cited as ‘Country Marketing in the United Kingdom and the Netherlands: Methods & Effectiveness’, Country marketing can be defined as all those activities that aim to increase the awareness of the competitive advantage of a nation as a potential location for foreign investment. The idea is to attract foreign entities (e.g. companies) to the country in question to set up operations there. Examples of marketing activities would include advertising in global newspapers such as the Wall Street Journal, The Financial Times and The International Herald Tribune: advertising on television (e.g. CNN): participating in trade shows and exhibitions: and direct mail. If we accept the definition of a product as anything that can be offered to a market for attention acquisition, use or consumption that might satisfy a want or a need, then a country is a product. There are, however, many more differences than similarities between product marketing and country marketing. [https://link.springer.com/chapter/10.1007/978-3-319-17320-7_156]

 

 

In 2017, Samanth Subramanian wrote an article, named, ‘How to sell a country: the booming business of nation branding. ‘The article was written on the base of the term ‘Nation Brand’. How to brand a nation and make others interest to come that place Lipetsk are the main objectives of the article. [https://www.theguardian.com/news/2017/nov/07/nation-branding-industry-how-to-sell-a-country]

 

 

So, Venture View’s viewpoint is that  Country Marketing is a procedure to represent a country as a place to attract foreign countries with creating relevant relationships according to their needs, wants and demands, and gain benefits through maintaining the relationship and own country’s welfare.

 

 

Before the last definition, every writer said that a process to attract foreign investors to invest here. The investment in terms of money. Is that real? Venture View doesn’t think like that. It will be explained later.

 

Competitiveness

Every thinker or writer takes a country as a product. A multilevel using product? We don’t think so. A country should be taken as a place where foreign people are willing to invest. Invest means money? Absolutely, no. The foreigners will tour a country to spend or invest their invaluable time. Then money comes. Time management is the most prior thing to foreigners. Mr. Khalid met an Algerian buyer in 2009. From Mahakhali to Uttara took a lot of  time. He suddenly said, “What a Rubbish! How could you work here? It’s embarrassing for me to work here. When I meet others and do meetings? Impossible to work here.” He didn’t attend our meeting and dropped Khalid at Mahakhali DOHS. At that time Mr. Khalid was with Vastav Tex. Time makes money. Time is everything.

 

Competitiveness comes with few sectors and factors. Bangladesh is taken as a sample country. Which sectors want to invest their time in Bangladesh? What Bangladesh has?

 

Bangladesh has:

  1. Lands to Cultivate
  2. Lands to Setup factory
  3. Beautiful places to tour or visit
  4. Low cost labour

 

What factors are needed?

  1. Clean area
  2. Controlled traffic
  3. Safer road
  4. Proper place to live
  5. Uninterrupted electricity
  6. Stable political environment

 

Foreigners can invest on Bangladesh’s

  1. Agro sector,
  2. Industry sector,
  3. Hospitality sector,
  4. Tourism sector,
  5. Medical sector,
  6. Other services sector.

 

Other country has also these sectors. Competitiveness finally comes on the factors. Suppose a foreigner comes to Bangladesh. After arriving Dhaka, s/he sees wastages are running on the road or pile of garbage is sided of the road. S/he takes a taxi to go to his hotel. It naturally takes 15 minutes, but s/he reaches after one and half hours for traffic jam. S/he feels tired for sitting in taxi for extra 75 minutes. S/he takes a taxi to visit a place for investing in a business. Road is too rough to think of safety. S/he reached the desire place, but there is no proper place to stay, not enough drinking water and high load shedding. After visiting the country, the person will never come back. In case of tourism, foreigners come for mind relaxation and after happening the incidents, they will be shocked. It can be investment or mind relaxation, these factors are related with competitiveness to do country marketing.

 

 

Marketing Mix for Country Marketing

Naturally, marketing goes with 4Ps, but this article is going with 4Cs. In country marketing, Country is not going to represent as product, it represents as a place of limitless opportunities. In that case, 4Cs is better as marketing mix.

 

  1. Consumers’ needs and wants
  2. Cost to satisfy
  3. Convenient to reach
  4. Communication to clear/understand

 

Consumers needs and wants

Country marketing’s target market is foreigners. Foreigners’ needs and wants are very important to attract people towards the country’s specialty. Suppose, government makes tourism such attractive, that a foreigner thinks to do business with Bangladesh tourism industry. S/he thinks to set an agency here or deals with an agency to do business. Another one thinks about set up a hotel in the specific place or deals with a resort that can support his or her guests/clients. Such resources are licked by them that they can set up a factory. So, attraction is a unique process to make money from foreigners.

 

Cost to satisfy

Remember the facts. Guests spend their time and money, but the country is dirty, has broken roads, insecurity everywhere, traffic system is ill-controlled, availability of hygienic foods and drinks are impossible. They will be upset and take their first expense as a sunk cost not investment. To satisfy the foreigners, the facts should be in proper manner.

 

Convenient to reach

Traffic, safer road and sign should be clear to understand for a stranger too. Destination point should be convenient. It should be comfortable to reach the place. If foreigners feel like the Algerian Buyer, the marketing becomes onetime. It will be a loss project.

 

Communication to clear/ understand

Communication should be clear and authentic. Providing perfect information is the way to make them attract, aware about the country. Suppose, foreigners hear about Bangladesh, Beautiful Bangladesh. We agree with it. A foreigner comes to tour Bangladesh and his or her first view goes with pile of dirt. For going to a place, s/he is shaken up badly with broken road. The person will be horrified, but the view of Bangladesh is very beautiful.

 

Marketing mix is very necessary for Country Marketing. Contrasting the tool ‘AIDA’, Awareness comes with the clear communication, Interest goes with needs and wants of potential consumers, desire also comes with the matching of communication and needs and wants, and last Action goes with cost and convenience.

 

 

Booming Business

Business will be boomed. Bangladesh has a great opportunity of doing various business. For an example, Honda sets up a business in Bangladesh. It is an assemble based factory. In this way, foreign direct investment or Bangladesh’s own business can be boomed. If country marketing is done properly, foreigners will come and be satisfied their words of mouth attracts other foreigners and they will come and be satisfied.

 

 

Just as example of tourism, more foreigners will come, more resorts will be booked and some new resorts will be opened, resorts, hotel, restaurants, shops and etc. supporting businesses will be run properly. Businesses will be profitable.

 

 

Some assemble based business like Honda will establish their business. Some chain hotel business organization will deal with some of our countries hotel. Some will become partner for fish processing or jute or shrimp related factories. Country’s total business will work on track.

 

 

Impact on Economics

Besides savings for future, now a days people spend a lot of money for travelling in different parts of the world. The main problem of Bangladesh is lack of proper communication in different tourist spot. People know about the mesmerizing beauty of different tourist spots of Bangladesh but are reluctant to go there because of poor transportation system. Focus should be given on improving transportation facility to reduce communication gap. With booming and rising of business, employment opportunity will grow. When people get cash then money circulation also works properly. Economy of the country will go smoothly. Even part time jobs opportunity will be also created.

 

 

If a country thinks about its own marketing, it will get a proper shape. It has to be. Otherwise, country marketing will be failed. Porjoton Corporation is a kind of failure to attract foreigners. Maximum, visitors come to tourist point. It is just an example.

Tags
AIDABoombusinessCNNCountry MarketingEconomyHarvard Business SchoolHow to sell a countryKhalidKhalid Bin ReasatLouis T. Wells & Alvin G. WintMarketingNation BrandPerveenPolicyRumanaRumana PerveenSamanth SubramanianThe Financial TimesThe International Herald TribuneTourismUnited Kingdom and the NetherlandsVentureVenture ViewViewWall Street JournalWorld Marketing Congress
Share this Post

682 Comments

Leave your opinion

Mother Language
Social Media Auto Publish Powered By : XYZScripts.com