In this paper branding concept of a touristic region is suggested with the purpose of improving its investing and touristic attractiveness, enhancing the quality of people’s lives, creating positive image of the region and increasing its competitiveness. Practical implementation principles of this concept are also presented. It is proved that brand as a tool of individualization and differentiation of products or services is the strongest information signal, which a seller can send to a consumer in conditions of imperfect information on the market. The notion “brand” may refer not only to companies and their products. Considering branding of a touristic region, it should be mentioned that value based economy model, as the model of territorial development, is particularly relevant for such areas which do not have significant raw materials. Brand is a resource which can potentially work forever. Effective brand of a touristic region, which is engaged in business performance, can provide income that will exceed the cost of raw materials. Brand formation is the activity based on deep market knowledge. The “pyramid” of touristic regional brand is developed, and practical implementation algorithm of the project is suggested, which is based on the conceptual brand management model. Target groups of the project are supposed to be touristic management, representatives of local authorities, rural and urban communities, touristic industry enterprises and touristic and recreational complexes, national crafts producers, objects of industrial tourism, etc. Final beneficiaries of the project are supposed to be local communities, regional and local administrations and their associations which are responsible for tourism development, public structures whose purpose is to maintain sustainable tourism development in the region, associations and organizations of small business or entrepreneurs in touristic sector. Positive experience of the program can also be extended to other regions which do not belong to the program area. The algorithm for practical implementation of the project is based on the conceptual brand management model and includes: 1) regional brand identity development; 2) creation of brand attributes of the region; 3) development and implementation of marketing programs which allow to create a brand (considering the components of marketing mix: specific measures concerning products/services, prices, places and communications); 4) involvement of secondary associations / tools which are necessary to reinforce and strengthen the main marketing programs; 5) branding strategy development; 6) effectiveness estimation of regional brand; 7) creation of the project’s website; 8) development of the portal with touristic information; 9) public hearings; 10) seminars; 11) international conference concerning results of the project; 12) preparation and publication of project results, in particular, articles, books, textbooks, monographs, other scientific papers etc. Expected results of the project should be: 1) creation of positive regional image; 2) public information about the uniqueness of the area; 3) increase of regional competitiveness in order to gain foreign markets, to attract investors, tourists, new residents and qualified migrants; 4) overcoming the shortage of tangible and intangible resources of the area; 5) activation of tourism development; 6) informational and analytical published materials, public hearings, seminars, conferences; 7) project website and portal with useful information for tourists.
Based on benchmarking researches of leading companies, current challenges are analyzed which are relevant for any company, market or region. Certain initiatives concerning the next steps and fundamental principles of new marketing and branding strategies are suggested, which are relevant for a touristic region as well. 

branding, touristic regional brand, brand management, brand equity, marketing of territories