Why is branding important?
According to a Tufts University research project, “A brand’s purpose is twofold: One – it serves as a major tool to create product differentiation: and Two – it represents a promise of value. From a consumer’s viewpoint, a brand is – above all – a shortcut to a purchasing decision.” Research has recently shown that in less than two years, The “Kentucky Unbridled Spirit” brand is having a positive impact upon consumers’ perception of the state and their intent to visit the state. Twenty-three percent of the respondents said the brand gave them a more favorable perception of the state, up 7.3% from the first year of branding. Also, 48% said they were more likely to visit Kentucky, an increase of 8.6% over year one. The most important fact learned in the study is that more people now say they want to visit the state. This will lead to more visitors and more tourism spending-and that will add to Kentucky’s General Fund. This means the brand is doing what it is supposed to do-helping differ
