How to name a product, from the man behind Swiffer and BlackBerry
Why is a product naming strategy important?
A product naming strategy is crucial because it makes sure that the name you choose for your product reflects both the needs of your company and the preferences of your target market. Product names can influence the success and longevity of your products as well as the future growth of your brand. Additional effects of a successful product naming strategy on your company include the following:
What is product naming?
The multi-step process of coming up with, investigating, and testing names for a good or service is known as product naming. Companies frequently spend money on a thorough naming process because a product’s name can affect how the public perceives it and its branding message. It may also have an impact on several operational departments, including:
How to use a product naming process
The steps to follow when choosing a name for a product are as follows:
1. Define product objectives
For each product to meet its sales goals, a unique naming and marketing strategy might be needed. For instance, a business may launch its version of a popular product or introduce a completely new technology. You could examine the following in order to make sure that a product name is in line with its marketing plan:
2. Brainstorm your naming options
Together with a product development team, come up with name suggestions based on the findings from the objective-setting process. Making a long list of potential names and then highlighting the most promising ones may be helpful. To aid you in coming up with new ideas, consider the following common naming conventions:
3. Research your top choices
After you’ve narrowed down your list of potential names, research your sector to find the one that best serves your marketing objectives. Your research may also enable you to prioritize certain options while excluding others. By examining the public sales data of your competitors, for instance, you might learn which naming trends are more popular with customers.
Make sure there are no products using the same language already on the market before commercializing your product name. After that, think about securing relevant social media usernames and website domains for any upcoming marketing campaigns. Verifying that the name has no unintended, negative associations in other languages is also crucial.
4. Use analytics to test your name options
To ascertain the public’s opinion of your chosen options, run tests on them. Have your marketing and design team produce mockups of your logo that explore various fonts, color schemes, and designs. You can use online polls or in-person focus groups to find out which brand names and stylings are most appealing to the company’s customers. You can also get ideas or formatting from earlier names. Think about giving your customers and the product development team’s preferred option priority.
5. Apply the name to your product
Create a marketing infrastructure that will help the product be promoted after choosing a name for it. Consider opening social media accounts and purchasing web addresses with the username and domain you had previously reserved to launch a successful marketing campaign. Once you’re certain that your initial logo design accurately represents your product and is ready to be displayed on the packaging, refine it.
5 tips for choosing a product name
Here are some ideas to keep in mind as you choose a product name:
1. Make it meaningful
Your marketing efforts can be made simpler by selecting a product name that has significance for the business. Consider coming up with names that reflect the principles of your business so you can use them as a compass as you consider your options. As a result, the name may effectively correspond to your brand’s narrative, which may stimulate new ad concepts. If your product’s name tells a story about its origins, your customers can learn more about it.
2. Practice saying each name out loud
As you consider potential product names, be sure to speak each one out loud and practice incorporating it into conversations. Interesting names are easier to remember and can pique consumers’ interest even if they aren’t fully familiar with your product. Additionally, names that sound too similar to other words or have difficult pronunciations can be found using this technique.
3. Embrace simplicity
Many companies can benefit from choosing simple, short product names. These are frequently simpler to recall, spell, and use in packaging. Additionally, they may be simpler to use in casual conversation, which might tempt your customers to refer to your product by name rather than a broad category or activity, increasing demand for your goods.
4. Imagine visuals early
A logotype might influence how customers perceive and assess the worth of your product. As a result, it may be advantageous for you to choose your logotype’s design options at the start of the naming process. Think of creative ways to style each product name to fit your brand as you brainstorm. Any particularly memorable or aesthetically pleasing design choices should be noted.
5. Use text analytics
With the aid of machine learning, you can extract important patterns from written data using text analytics. You might analyze customer survey results or product reviews more effectively by using text analytics software. Additionally, it might offer deeper insights than what can be obtained through manual analysis procedures. As a result, when selecting the ideal options for a new product name, you can gather more highly relevant, optimized data.
What is a product name example?
- It should be readable and writable. …
- It should be unique. …
- It should be short, punchy and memorable. …
- It should sound cool when spoken and look good when written down.
- It should evoke an emotion, feeling or idea.
Why is product naming important?
In this instance, a product name designates a particular good or service, and when a business starts using it, it transforms into a brand name. For instance, the Toyota company uses the name Toyota for business purposes, and its products are cars.