Pricing policy and its role in the marketing strategy of the Nizhny Novgorod region

The high potential of the Russian regions contributes to an increase in the number of foreign investment companies wishing 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 these problems are such tools of territorial marketing, such a policy of pricing 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 forming a positive 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.

The development of modern concepts of regional marketing, a 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 Program for the development of the region until 2020, priority sectors of the region's industrial development have been 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, the region has experienced a high growth in foreign investment. If in 2007 the amount of foreign investments amounted to 469 million US dollars, in 2011 it reached already 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 allow for 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, with its processing industry 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 originality 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 defense industry enterprises with an appropriate research and development complex.

The scientific and technical sector is represented by more than 100 different-level scientific organizations, from academic institutes to design bureaus of factories and plants in the region. A 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 providing specialists at all levels for various sectors of the region's economy.

The Nizhny Novgorod region and in particular Nizhny Novgorod during 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 sphere, advertising companies, with financing, sincere interest and initiative, on the part of economic entities, certainly can provide investment attractiveness of the region.