What’s In a Name?
As we brainstormed a brand name of our new product, I surfed the web in search of articles that explained what made well-known brands successful, how to create a brand that people love and respond to, how to name a new product, etc.
Here are three interesting things I learned about branding a new product:
1. Some brands have done such a great job marketing their products that those brands are commonly mistaken with the product.
Examples of these are:
- Chapstick, which is actually lip balm.
- Kleenex, which are actually facial tissues.
- Q-Tips, which are actually cotton swabs.
- Velcro, which is actually hook and loop fastener.
I have to say these powerful branding techniques pull me in as well! When you really look closely, there is so much in a name!
2. MarketingProfs.com is a great educational resource. I ventured through their forums and found, “What makes a brand successful?” It just-so happened that I found a few helpful answers, here are my favorites:
- To become a successful 'Brand' you need high awareness and access to your target audience to get trial and purchase and hopefully repeat purchases by delivering superior value.
- Key factors for Brands to succeed include:
- Superior consumer value
- Marketing & Sales support
- Low-cost operation
- Superior buyer value
- Economically viable
- A brand is a promise that you'll deliver the same benefits the same way, consistently, time after time; and that you'll deliver value to your target audience every time they buy or use the brand.
3. Taglines help seal the deal. “In an industry fighting sensory overload, shrinking mass-market opportunities, and thousands of "me too" products, tag lines are an opportunity to seal your positioning in the consumer's mind.” (adslogans.co.uk)
So, after hours of online research, brainstorming with our team and the legal review, we chose Expresso® as the name of our product. We also created a tagline that essentially “seals our deal,” Exhibit Planning, Ordering and Management. It’s simple, but it confirms what the product is and its benefits. The slogan to catch our consumers’ attention is, Accelerate Your Experience.
At the end of the day it only makes sense to put the time and effort into the name. We’ve invested and developed a technology platform that supports our customers in new, better ways. The name Expresso lets us quickly tell that story.
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