Saskatchewan Economic Development Association (SEDA)

Saskatchewan Economic Development Association

P.O. Box 113
Saskatoon, Saskatchewan
S7K 3K1

ph : 306.384.5817
fax : 306.384.5818
verona.thibault@seda.sk.ca

Executive Director :
Verona Thibault

Project Development | Financing Economic Development | Engaging Your Community |

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MARKETING

Economic development involves not only the enhancement of a community and its resources, but also competition with other communities seeking similar goals. Theodore Levitt, in his book The Marketing Imagination (Free Press, New York, 1983, p.5), states that, "The purpose of a business is to create and keep a customer." Borrowing from Levitt, we can also say that marketing is the process of getting and keeping customers; in this case the product is your community and the customers are those individuals/enterprises which you are trying to attract and retain. Competition within this marketplace -- from a regional to global level -- is strong. Knowing how to market your community is essential if you wish to compete successfully.

Are all car buyers the same? Not likely! There are different target markets for different kinds of cars, and marketers conduct their marketing accordingly. The same is true when marketing your community. The approach you take in marketing a tourism event will be very different from the strategy you will want to take in attracting investors into a processing plant or manufacturing facility. To market your community, you have to answer the following questions:

What problems can your community solve for a customer? For example, can you cut overhead costs, supply a better-skilled and more dependable labour force, or offer a better environment in which to raise children? List all the problems that your community can solve. These are the benefits that you will be promoting.

Whenever you talk to your potential customers, talk about the benefits of your community rather than its features. You might be very proud of your new curling rink, but unless your potential customer wants to curl this means nothing: it is a feature of the community, but it is not necessarily a benefit to your target market.
Who has the problems that your community can solve? This defines your target market. The better you can define your target market, the more effective your marketing will be.
How can you differentiate yourselves from communities that have much the same target market? This determines your marketing mix, and which of the 4 P's you will emphasize. You might, for example, develop and offer more industrial land (product), or give special low rates on commercial space (price), or emphasize your proximity to markets (place), or send out more brochures and place more advertisements (promotion). Remember, though, that you must still offer a marketing mix; no community can compete solely on just the basis of price, or place, etc. You didn't buy your car strictly because of its cost; product warranties, a nearby dealership and advertising also played an important role.
Where is your target market, and what's the best way to let them know how you can solve their problems?

Understanding the marketing process allows you to effectively incorporate marketing into your overall economic development plan. As you can see, marketing has a much broader scope than advertising (which is just one part of marketing), and a market-driven approach to community economic development gives the community an advantage over other communities who engage in self-flattery and "belly-button gazing".

For more information about marketing, tourism and event planning as a marketing tool for economic development, and investment attraction, contact the SEDA office to enroll in an economic development training course.