Strategizing the Impact of Regional Brands on Regional Socio-Economic Development

Intangible assets shape competitiveness of Russia’s region and require new effective development strategies. However, appellations of origin remain unpopular branding tools in the regions, which indicates a low demand for this type of intellectual property protection. Regional executive authorities seldom consider regional brands as a resource for local socio-economic development. A sociological survey made it possible to assess the opinions of regional executive authorities regarding the impact of regional brands on the local socio-economic development. The article describes some case studies of successful appellations of origin and brand support policies. However, the exact impact of appellations of origin on the development of the corresponding region remains unclear. The survey revealed the key factors that affect the influence of regional brands on the local socio-economic indicators. Three strategic directions could enhance the positive impact of regional brands on the socio-economic development: 1) to increase producers’ awareness of the benefits of appellations of origin in local brands; 2) to study and adapt the best practices in using appellations of origin as part of regional brands; 3) to improve regional brand support policies, e.g., by strengthening the role of authorities, optimizing various support measures, and identifying the impact of regional brands on the regional investment attractiveness. The results obtained may be used to strategize the socio-economic development in Russia’s regions.