Market and marketing within the concept of functioning and development of cultural heritage sites

Objective: The article presents the conditions, factors, and stages of development of the market orientation of cultural heritage objects. The author introduced a terminological distinction – the cultural potential of the object and its market potential. The market potential is understood as the ability to generate revenues from com-mercial activities (products and services).Research Design & Methods: The conceptual nature of the article determined the scope of methods used in diagnosing, analyzing, and synthesizing the phenomena and processes discussed. These were primarily critical literature studies, which usually limited considerations of the market role of cultural heritage objects to the cases of mu-seum institutions and their tourist functions.Findings: Developing and organizing knowledge about the market concept of the functioning of cultural heritage objects, as well as indicating the main directions in the strategic marketing management of these objects. Besides, the paper points out the relationship between the cultural potential and market potential of historic buildings and outlines its significance.Contribution & Value Added: The presented concept of market orientation of cultural heritage objects breaks with the narrow understanding of the market of these objects and its only marginal role in generating development factors. The sustainable development of historic buildings should be focused on a balance between its functional goals (protection and conservation), socio-civilization goals, and economic ones.