What benefit could a business gain in coming up with a remarkable product name? If you promote a product that really sells, giving large profits and creating quite an impact to millions of clients locally and worldwide; perhaps your business strategy is working best for you. Product branding was efficiently instilled aside from the quality you produced. Apparently, product naming is just one aspect of Product branding. There are many phases to still consider like:
The Branches of Product Branding
1. Conceptualization (consider the objectives as well)
2. Total Image/outlook of the product
4. Positioning, designing and sizing the business logo
5. Marketing Activities (for your targeted market)
6. Existing Patronage
7. Beneficial attributes of the product
8. Innovative ideas
9. Linguistic strategies (consider language barrier and cultural differences)
10. Trademark security & protection
Being aware that Product branding is a discipline applied in building a name for your company’s product. Consider the fact that when a company more often produce products of great quality and satisfaction; chances are that the same kind of people will patronize more and more of the brands of products you produce. Because you have created a sound image, people tend to be impulsive of any product your company will produce in the future. This is where the Product branding task becomes less difficult. A dependable product brand maintains customer’s loyalty in years to come. It is also believed that a stable customers’ patronage lessens the overhead costs of any business when we speak of promotion and advertising. Whereas, for those businesses that just entered the competitive market, it would take a period of time before they can come up with a rightful, striking product name to create an image in the world market.
Four Categories of Product branding:
These are the type of names that describe a product’s feature, characteristic, appearance, ingredient or even geographical location.
Example: Florida Orange Juice, Philadelphia Cream Cheese
This product naming is so commonly used, it hits business to consumer with more impact through directly hinting the key features of the product, stating the benefits up to describing the image of the company. A suggestive name simply implies all the positive associations of the product to the consumers. Some metaphoric quotes are even adapted to create a slogan which is but an effective way to attract and convince clients.
Example: Kellog’s Nutri Grain, Bounty Paper Towels
This technique in naming a product do not directly or literally describe the product, its approach is not really adapted from any product’s feature, description or benefits. The names can be composed of natural or coined words.
Example: Apple Computers (Steve Jobs’ favorite fruit, and that he had worked in an apple farm before becoming a billionaire in computer world)
d. Fanciful (or coined names)
These Product branding names seemed completely made-up, often perceived as a current phenomenon but scientifically not proven to be true yet; often referred to as neologism. These fanciful names have already been long established, approved and accepted.
Example: Kool-Aid, Crayola, Coca-Cola
Product branding plays a vital role in attracting buyers and users alike. Some product names already became an icon for a specific product line. It is well accepted by the society that brand names that are meaningfully coined are more effective to create an impression to consumers. However, Descriptive and Suggestive names created the exact meaning for the targeted market because these names are mainly composed of natural English words that can work alone or through combination that can also create in the formation of a unique abstract name or the literal counterpart.