BRAND MARKETING
JANUARY, 1999

Brand Marketing, January 1999, p. 62

James Dettore

"What's in a Brand Name?"

Developing a good brand name strategy will set a brand apart from the competition and positively impact future profitability. For it to be successful, though, the brand name must communicate the product being sold in a way that is consistent with the company's image. Consistency, creativity and originality are critical.

It's important to be consistent throughout all media that is, logo, the company's mission statement and advertising.

Creativity is equally important in brand-name representation. It is how you introduce what is special about your company and how you want people to feel about the brand. Positioning and creating your brand name with the essential flair is the goal for the creative process. The brand name becomes a critical part of the customer's perception of your company, so it is imperative to creatively capitalize on this perception.

Originality is the key to developing a distinctive brand name. A name similar to a competitor's could cost your business dearly. Therefore, trademark screening is an essential component of all brand strategies.

An effective tool used for building a brand name is the Internet. Surveys have determined that companies using the Internet have a higher recall ratio than those that don't.
Brand Name

Web site brand names are increasingly important. People expect your site to incorporate your brand name. A good domain name will greatly increase your hits. If, for example, prospective consumers are searching for a new car and they want to search for a Honda Accord, they type the name "Honda." Hence, www.honda.com would be an appropriate site. This saves time and much frustration. People want to receive information quickly and efficiently.

According to Morgan Stanley's Internet Advertising Report, the average American spent 1,575 hours watching television and seven hours on the Internet in 1995.

Brand Name

Today, as much as 10% of the U.S. population regularly surfs the web which represents an impressive growth rate over the past few years. This is especially significant when you consider that these users are, in most cases, affluent and educated. Web users are making purchasing decisions based on information they find on the Internet. It is therefore critical that you develop a brand name that is easily identifiable with your company's brand strategy.

A company's brand name should say it all; what the product is, how to use it and how the customer should feel about it. Consumers should see a brand name and immediately get a feel for what kind of product it represents.

Having the right brand name and building equity in that brand name will place you a cut above the rest. You will possess a competitive advantage over other companies that do not understand the power of "what's in a brand name."
Brand Name