Brand Naming Strategies

1. WHAT’S IN A NAME?

2. Brand Naming Strategies Anand G II MBA Pondicherry University

3. What’s in a name? Brand name is a fundamentally important choice Captures the central theme or key associations of a product Shorthand means of communication A name can be memorized and activated in seconds Compact and economical

4. How it used to be? Ford named its ‘Edsel’ after a Ford family member’s name… And ‘Taurus’ after the star sign of the chief engineer’s wife!

5. But not now… Brand name is the most difficult brand element to create and to change Closely tied to consumer’s minds Every year thousands of names are registered as legal trademarks ‘All the good ones are taken’

6. Is it easy to name a newborn baby? Naming a brand is also tough!

7. Selecting a Brand name is an ART… And a SCIENCE too…

8. Brand Name Taxonomy Descriptive - describes function literally E.g.: Singapore Airlines Suggestive - suggests a benefit or function E.g.: Shopper’s Stop Compounds - combination of real words E.g.: red hat Classical - based on Latin, Greek or Sanskrit E.g.: Brahma

9. Brand Name Taxonomy (contd.) Arbitrary - real words but no relation to product E.g.: Apple Fanciful - coined words with no meaning E.g.: Kodak Alphanumeric - combination of alphabets and numbers E.g.: SX4

10. Keep it short and sweet…

11. Some can be shortened… Coke Chevy Bud

12. A good brand name should be… Simple and easy to pronounce or spell Familiar and easy to remember Different, distinct and unusual

13. Some factors… Rather than mispronouncing a difficult name, consumers may just avoid them Some names may suggest different or even offensive meanings in another language e.g.: Fresca in Mexico, Puffs in Germany Many brands have pleasantly sounding or rhythmic names e.g.: Coca cola, Chic-king, Eli Lilly

14. Suggestive brand names can aid brand recall e.g.: Krispy Kreme, Juice-up, Businessweek Distinct and unique names are easily recognized e.g.: Apple, Xerox, ChaCha Even individual letters may be suggestive e.g.: X suggests ‘extreme, youth, on the edge’ ESPN X-Games, Nissan XTerra SUV

15. Brand naming procedure Define the branding objectives Recognize the brand meaning Define the role of the brand in the corporate hierarchy as well as marketing program How will the brand relate to other brands and products? Describe the target market in depth

16. Generate as many names and concepts as possible Consult many sources Even thousands of names may result Screen the names based on strategies and objectives Narrow the list to a handful of names by expert consultation

17. Collect more information on each of the final names Legal search to eliminate ‘problem childs’ Consumer research to be done Assess the memorability and meaningfulness of the names The actual marketing program can be simulated

18. Multiple samples of consumers may have to be surveyed Also study the exposure effects of the name Finally choose the name that maximizes the firm’s branding and marketing objectives Formally register the name

19. 10 most common naming mistakes Treating naming as an afterthought Forgetting that naming is as strategic as it is creative Underestimating the importance of a good creative brief Confusing the need for information with the need for differentiation Overlooking complex trademark issues

20. 10 most common naming mistakes Ignoring global implications Choosing names subjectively Thinking everything needs a name Keeping names that are no longer relevant Ending the verbal identity process at a name

21. Reference: Kevin Lane Keller: Strategic Brand Management; Building and Measuring Brand Equity Prentice-Hall of India, 2007www.interbrand.com

22. THANK YOU