Options for Product Naming
If you are preparing to launch a new product into the marketplace, you have a lot of things to consider. You will need to identify the target audience, develop a marketing strategy, explore marketing avenues, and so much more. Perhaps one of the most important things you will need to do, however, is to consider product naming. Such an issue may seem rather unimportant in the grand scheme of things, but making the right choice here can affect consumer loyalty, brand recognition, identity, and so much more. Here are some of the options available to you as you consider product naming for your new offering:
- Company Name Alignment – Some products and companies are aligned with a uniform name. Examples include Apple, Coca-Cola, and many others. You hear the company name, and their product comes instantly to mind. There are some benefits to this alignment as well as drawbacks, so research and consider carefully before making this decision.
- Descriptive Name – When creating a new name, one strategy is to opt for a descriptive name. This often serves the benefit of making it easy for your consumers to identify your offering in the marketplace, and it can also help to build an image for your product right from the start.
- Unique Name – You can also select a unique name for your product. This can work well if the name is catchy and easily identifiable. However, with a name like Zany 3000 or XPX 2000, you may leave customers wondering what you are selling if your marketing isn’t crystal clear.
As you can see, there are a lot of things to consider with product naming. There are certainly some better choices than others when you are considering what to name your offering, and choosing wisely can really play a part in the ultimate success or failure of your product in the marketplace.