Academic dissertation of Pauliina Pikkujämsä (Management and International Business) is presented for public defence at the University of Oulu, Oulu Business School on Thursday September 20, 2018 at 12.00 (noon) in Arina Auditorium (TA105), in Linnanmaa Campus.
Topic: Place marketing and foreign direct investments in the changing ICT era
The purpose of this study is to explore how place marketing manifests within foreign direct investment (FDI) in the new era of information and communications technology. The study reviews the literature on place marketing that emphasises FDI and defines place marketing as a tool to pursue FDI more systematically and efficiently in order to increase the value of a place. The study shows that place marketing can be used in multiple ways to pursue inward FDI activities and that it is multifaceted, not just a service offered by investment promotion agencies.
This empirical study of place marketing within FDI follows a multiple case study method. The data are drawn from interviews with nine FDI case companies and their respective investment promotion agency representatives and facilitating research, business and funding actors. The study approaches place marketing within FDI from an explorative perspective, studying how place marketing can improve FDI by interpreting investment decisions through the lenses of place marketing and place branding elements, management and assessment. The analysis identifies the place marketing factors that impact the FDI process from the preparation phase through the post-investment phase. Through the FDI process, a regional image is generated, and the place becomes visible.
This study develops a conceptual model that proposes that place marketing manifests within FDI through goals, networks, individuals and regional competences. The goals are set to develop the framework for place marketing within FDI. Stakeholders’ engagement forms a strong ecosystem network that can be a major regional asset to attract and sustain investments. Each FDI case creates, develops and sustains its own network, within which the contributions of individuals with technical and managerial skills are key to successful place promotion. The competence of the regional ecosystem sets the scene for the investment opportunity. Regarding managerial implications, this study proves that strategic, inward FDI activity requires long-term regional commitment from stakeholders and an allocation of resources during not only the pre-investment phase, but also the post-investment phase.
Last updated: 20.12.2019