New product concept development as an effect of revitalizing the Old Market in Bydgoszcz

Purpose: Revitalization constitutes an indispensable part of urban development. The use of this concept is thus crucial in the development and communication of new regional products. The elements of territorial marketing enable development of a new product structure - a place. The main article objective entails an attempt to define territorial marketing in the context of revitalization, i.e., as a concept of new product - place - development. Additional objectives are to indicate the impact of revitalization on the change in the surroundings of the Old Market in Bydgoszcz and to link the revitalization processes with the marketing communication of tourist activity. Design/methodology/approach: The article analyses the latest scientific literature on revitalization and territorial marketing. A case study analysis was additionally carried out. Case study conducted in this article was related to the Old Market in Bydgoszcz. Market plate revitalization was analysed at first. Subsequently the authors of the article made an analysis of the Old Market's adjacent streets as well as its key objects. Findings: Owing to the revitalization of the Old Market Square in Bydgoszcz, a new local product has been developed - a place of modified features and functions. The use of territorial marketing tools has helped to attract tourists and residents. The revitalization showed that the Bydgoszcz's Old Town is an attractive place for business, bringing restaurants and entertainment venues to the area. Practical implications: Revitalization and its areas had a positive impact on the development of facilities located in the vicinity of the Old Market in Bydgoszcz. An important element is the skilful management of this place and its financing for further development. Social implications: The key element in the revitalization of the Old Market in Bydgoszcz is the implementation of economic, cultural and social aspects. The implementation of these aspects has a positive impact on local residents and local entrepreneurs. Originality/value: The results of the analysis conducted enrich the literature on revitalization and territorial marketing. Moreover, they serve as a recommendation for further quantitative research in this field.