Island branding, identity and economic self-discovery: a simulation model

Abstract

This paper argues that challenges faced when implementing a nation brand can be better understood and visualised through a simulation approach. A conceptual model of the collective learning process triggered by branding is formulated and its properties are investigated through a Monte Carlo simulation. The implications of the model are illustrated through two different branding projects in the Isle of Man: the Freedom to Flourish brand and the development of the Isle of Man International Tax Personality. The paper shows that a successful nation branding project depends more on an effective management and support of a set of social dynamics processes rather than on formulating a brand statement accurately in the first place.