Pricing policy and its role in the marketing strategy of the Nizhny Novgorod region
High potential of Russian regionshelps increase the number of foreign investment companies willing to develop business relations with the regional business, for which cooperation can be an effective catalyst for growth. Regions have the opportunity to independently pursue socio-economic policies. The methods of solving the tasks set are such tools of territorial marketing, such a pricing policy in marketing, which can solve the problems of investment (commercial) and tourist attractiveness of the region and, first of all:
- administrative, political, socio-economic, financial resources;
- resources aimed at formingpositive image of the region: regional and foreign fairs, promotions, information booklets, leaflets, posting information on the Internet, and more;
- resources aimed at developing the business and cultural life of the region, as well as infrastructure development.
Development of modern concepts of regionalmarketing, competent pricing policy in this segment of economic activity, are in demand today to ensure economic growth of the regions. For example, the Nizhny Novgorod region, possessing one of the most favorable investment climate in Russia, is the most successful example of a region with huge tourist and investment potential.
In accordance with the adopted Development Programregion up to 2020, priority sectors of the region's industrial development are identified: automotive, information technology, chemistry and petrochemistry, aviation and metallurgy, building materials and tourism. The region has developed a unique administrative mechanism for supporting investment projects, aimed primarily at minimizing bureaucratic costs and providing various preferences to implementers of investment projects.
Over the past few years, there has been ahigh growth of foreign investment. If in 2007 the amount of foreign investments amounted to 469 million US dollars, in 2011 it reached about 710.2 million US dollars. In the future, it is projected to stabilize the annual growth rate of foreign investment at 115% per annum, which will ensure strategic planning in this area of the economy, promptly determine which pricing policy is most effective in implementing an investment project.
The Nizhny Novgorod region is one of the largest industrial regions of Russia.
In terms of GDP, the region ranks 7th in Russia,and in its economic structure is dominated by processing industries. The extractive industry accounts for no more than 1.7%. Industry of the region has more than 650 thousand enterprises with more than 700 thousand people working, or 62% of the total number of employees. The peculiarity of the region is the high level of development of the machine-building complex (43.6% of the region's GDP), metallurgy (16.7%), petrochemistry (6.9%), fuel and energy (9.7%), food industry (9.7%) , forestry complex (4.4%), as well as enterprises of the defense industry with an appropriate research and development complex.
The scientific and technical sector is represented by more than100 multilevel scientific organizations, from academic institutes to design bureaus of factories and factories in the region. The scientific approach to the organization of production allows us to plan more competently which pricing policy at the enterprise is most profitable in a dynamically changing market situation. More than 200 thousand students are studying in the education system of the region, including specialists in economic specialties. Modern approaches to education, liberal education pricing policy, make the region practically self-sufficient in the issue of providing specialists of all levels for various sectors of the region's economy.
Nizhny Novgorod Region and in particular Nizhny NovgorodNovgorod in the Soviet period was a "closed" territory for the entry of foreign guests. As a result, today the Nizhny Novgorod region is little known for its potential counterparties and does not have a sustainable image abroad. But huge regional potential, competently developed marketing strategy and pricing policy in this area, advertising companies, with financing, sincere interest and initiative, on the part of economic entities, certainly can provide investment attractiveness of the region.
