The high potential of the Russian regions contributes to an increase in the number of foreign investment companies wishing to develop business relations with regional business, for which cooperation can become an effective catalyst for growth. Regions have the opportunity to independently conduct socio-economic policies. Ways to solve the tasks are the following tools of territorial marketing, such a pricing policy in marketing that can solve the problems of investment (commercial) and tourist attractiveness of the region and, above all:
- administrative, political, socio-economic, financial resources;
- resources aimed at creating a positive image of the region: regional and foreign exhibitions, fairs, promotions, information booklets, leaflets, posting information on the Internet, and more;
- resources aimed at the development of business and cultural activities of the region, as well as the development of infrastructure.
The development of modern concepts of regional marketing, a competent pricing policy in this segment of economic activity, are a challenge today to ensure the economic growth of regions. For example, the Nizhny Novgorod region, having one of the most favorable investment climate in Russia , is the most successful example of a region with huge tourism and investment potential.
In accordance with the adopted Program for the development of the region until 2020, priority sectors of the region’s industrial development are identified: automotive, information technology, chemistry and petrochemistry, aviation and metallurgy, construction materials and tourism. A unique administrative mechanism for supporting investment projects has been developed in the region , aimed primarily at minimizing bureaucratic costs and providing various preferences to implementers of investment projects.
Over the past years, the region has seen a high growth in foreign investment. If in 2007 the amount of foreign investment amounted to 469 million US dollars, in 2011 it already reached about 710.2 million US dollars. In the future, stabilization of the annual rate of growth of foreign investment is projected at 115% per annum, which will ensure strategic planning in this area of the economy, quickly determine which pricing policy is most effective in the implementation of a particular investment project.
Nizhny Novgorod region is one of the largest industrial regions of Russia.
In terms of GDP, the region ranks 7th in Russia, with processing industries dominating its economic structure. The mining industry accounts for no more than 1.7%. The industry of the region totals 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%), petrochemicals (6.9%), fuel and energy industry (9.7%), food industry (9.7%) , forest complex (4.4%), as well as defense industry enterprises with the corresponding scientific and research complex.
The scientific and technical sector is represented by more than 100 multilevel scientific organizations, from academic institutions to design bureaus of factories and factories in the region. The scientific approach to the organization of production allows you to more competently plan which pricing policy at the enterprise is most profitable in a dynamically changing market environment. More than 200 thousand students are studying in the educational system of the region, including specialists in economic specialties. Modern approaches to training, a liberal pricing policy in the field of education, make the region almost self-sufficient in the issue of providing specialists at all levels for various sectors of the region's economy.
The Nizhny Novgorod region and in particular Nizhny Novgorod in the Soviet period was a “closed” territory for foreign guests to enter. As a result of this, today the Nizhny Novgorod region is little known by potential counterparties and does not have a stable image abroad. But the huge regional potential, well-developed marketing strategy and pricing policy in this area, advertising companies, with the availability of financing, sincere interest and initiative, on the part of business entities, are certainly able to ensure the investment attractiveness of the region.