What’s In A Name?

What’s In A Name?

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  WHAT’S IN ANAME?
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  Brand Naming StrategiesAnandGII MBAPondicherry University
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  What’s in aname?Brand name is a fundamentally important choiceCaptures the central theme or key associations of a productShorthand means of communicationA name can be memorized and activated in secondsCompact and economical
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  How it usedto be?Ford named its ‘Edsel’ after a Ford family member’s name…And ‘Taurus’ after the star sign of the chief engineer’s wife!
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  But not now…Brandname is the most difficult brand element to create and to changeClosely tied to consumer’s mindsEvery year thousands of names are registered as legal trademarks‘All the good ones are taken’
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  Is it easyto name a newborn baby?Naming a brand is also tough!
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  Selecting a Brandname is an ART…And a SCIENCE too…
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  Brand Name TaxonomyDescriptive- describes function literallyE.g.: Singapore AirlinesSuggestive - suggests a benefit or function E.g.: Shopper’s StopCompounds - combination of real wordsE.g.: red hatClassical - based on Latin, Greek or Sanskrit E.g.: Brahma
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  Brand Name Taxonomy(contd.)Arbitrary - real words but no relation to product E.g.: AppleFanciful - coined words with no meaning E.g.: KodakAlphanumeric - combination of alphabets and numbers E.g.: SX4
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  Keep it shortand sweet…
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  Some can beshortened… Coke Chevy Bud
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  A good brandname should be…Simple and easy to pronounce or spellFamiliar and easy to rememberDifferent, distinct and unusual
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  Some factors…Rather thanmispronouncing a difficult name, consumers may just avoid themSome names may suggest different or even offensive meanings in another languagee.g.: Fresca in Mexico, Puffs in GermanyMany brands have pleasantly sounding or rhythmic names e.g.: Coca cola, Chic-king, Eli Lilly
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  Suggestive brand namescan aid brand recalle.g.: Krispy Kreme, Juice-up, BusinessweekDistinct and unique names are easily recognizede.g.: Apple, Xerox, ChaChaEven individual letters may be suggestivee.g.: X suggests ‘extreme, youth, on the edge’ESPN X-Games, Nissan XTerra SUV
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  Brand naming procedureDefinethe branding objectives Recognize the brand meaning Define the role of the brand in the corporate hierarchy as well as marketing programHow will the brand relate to other brands and products?Describe the target market in depth
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  Generate as manynames and concepts as possibleConsult many sourcesEven thousands of names may resultScreen the names based on strategies and objectivesNarrow the list to a handful of names by expert consultation
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  Collect more informationon each of the final namesLegal search to eliminate ‘problem childs’Consumer research to be doneAssess the memorability and meaningfulness of the namesThe actual marketing program can be simulated
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  Multiple samples ofconsumers may have to be surveyed Also study the exposure effects of the nameFinally choose the name that maximizes the firm’s branding and marketing objectivesFormally register the name
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  10 most commonnaming mistakesTreating naming as an afterthoughtForgetting that naming is as strategic as it is creativeUnderestimating the importance of a good creative briefConfusing the need for information with the need for differentiationOverlooking complex trademark issues
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  10 most commonnaming mistakesIgnoring global implicationsChoosing names subjectively Thinking everything needs a nameKeeping names that are no longer relevantEnding the verbal identity process at a name
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  Reference: Kevin LaneKeller: Strategic Brand Management; Building and Measuring Brand Equity Prentice-Hall of India, 2007www.interbrand.com
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  THANK YOU