The Power of Place Branding and Competitive Identity by Chris Fair, Resonance Consultancy

THE RESONANCE REPORT

RESONANCECO.COM

THE DISTINCTIVE CITY DIVIDEND: THE POWER OF PLACE BRANDING

AND COMPETITIVE IDENTITY

WHAT IS A BRAND?

Estimated Value of Coca-Cola’s “brand” is $79.2 billion - Interbrand 2013

Brand Equity is “the set of assets and liabilities linked to a brand’s name and symbol that adds to or subtracts from the value provided by a product or service to a firm and/or that firm’s customers.”

-DAVID AAKER, MANAGING BRAND EQUITY

BRAND EQUITY

Place Equity is the set of assets and liabilities linked to a city’s name and identity that adds to

or subtracts from the perceived attractiveness of a city as a place to live, visit and invest.

PLACE EQUITY

Unlike Brand Equity, Place Equity is built and shaped by much more than marketing

and promotions.

In an age where traditional marketing and advertising influence people less and less,

locals and visitors themselves are increasingly influencing and shaping the identity and

perception of cities through their evaluation and recommendation of experiences in social media networks – broadcast via the comments, images and reviews they share with family, friends, and

people around the world.

The Place Equity Index is a measure developed by Resonance Consultancy to quantify and

benchmark the relative quality of place, reputation and competitive identity of one city to another using both traditional statistical measures and

qualitative evaluations by locals and visitors in 24 fields grouped into six core categories.

PLACE EQUITY INDEX

PLACEPerceived quality of a city’s natural

and built environment

PRODUCTPerceived quality of a city’s key

institutions, attractions and infrastructure

PROGRAMMINGPerceived quality of a city’s arts,

culture and entertainment

14 | U.S. Place Equity Index 2015

PEOPLEPerceived character and diversity of

a community

PROSPERITYPerceived wealth and opportunity

in a city

PROMOTIONQuantity of articles, references and

recommendations online

17 | U.S. Place Equity Index 2015

THE RESONANCE REPORT

RESONANCECO.COM

THE DISTINCTIVE CITY DIVIDEND: THE POWER OF PLACE BRANDING

AND COMPETITIVE IDENTITY