This article will discuss how to determine a product name that attracts the market.
Now there are so many new brands emerging that it is very difficult to come up with a new name that meets all the criteria but is also readily available.
When you come up with a new product name, you need to research, plan, and brainstorm, then test it before launching it.
Because not just any name will be used. The product name should fit within the broader umbrella of the brand name while telling consumers its own unique story.
It should also be memorable, findable (especially on social media), unique, understandable, and relevant.
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What makes a good product name, and how do I find one?
Here's our guide to choosing a great name, perfecting your ideas, and avoiding common product naming mistakes.
There's no question that a product name can make or break a launch. No matter how innovative a new offering is, a clunky or confusing product name can turn off potential customers.
And while it won't make a mediocre product better, a great name is a big part of what makes a good product successful.
A proper name can be:
- Make the product more effective.
- Provides information about features and benefits.
- Generate positive sentiment towards the brand.
- Helps stand out from competitors.
- Create a platform to develop and expand product reach.
Determining the name of the product must be owned
- Brand synergy: Make sure the product name aligns with the brand identity and overall strategy.
- Resonance: The product name should resonate with the ideal customer, evoking a desired feeling, perception, or impression.
- Scalability: Think long-term. Do you see this as a stand-alone product, or if it is successful, could it grow into a larger product line? If you're thinking about the latter, you'll want to consider it when choosing a name.
- Visibility: If people can't easily find and search for a product online, assume it's dead on arrival.
- Distinctiveness: Competition will be fierce. You need a name that will make the product stand out from the crowd.
- Longevity: Don't be tempted to use the latest fashions as inspiration for new product names. Ask yourself, “Will this name make sense to people in 20 years?”
- Simplicity: Sometimes, we misspell something, and Google knows what we meant and points us in the right direction. But do you really want to leave it to chance? Make sure the product name is not too difficult to spell or pronounce; otherwise, people will have a hard time finding it and talking about it. Make it easy for the audience.
The role determines the product name
The product name should sound cool. Its main function is to guide customers to purchase it by showing them why it is the right choice for them.
The product name should also instill confidence in the brand. This is achieved with consistency. If all the product names sound like iPhone, iPad, or iTunes, and you suddenly launch a new music service called “Streamy,” that will sound random and potentially cause customers to lose trust in the brand.
How to determine the product name
- Take a look at your brand and existing products
The new product will sit alongside others in the range, either now or in the future. So you need a name that will work in harmony with your existing brand and marketing language.
Also Read: 5 Marketing Types that Will Change the Fortune of Your Business
You also have to consider how the product is received by customers. Imagine brand and product names written in catalogs or on review sites.
They must work together and give the impression of cohesion and strategic planning.
- Evaluate competitors' product names
Like step 1, it's about placing the new product in context with what's already there. But instead of adapting to your own brand and product line, your goal is to reinforce the perception that you are offering something fresh and different from competitors.
Look for trends in how competitors name their products, and decide whether you want to target a completely new territory by comparing it or bolster what's already there to capitalize on recognition among potential customers.
- Come up with ideas
This is the fun part! You have lots of options here; you can use traditional route ideas and brainstorm using a whiteboard or flipchart. Working as a team is a great way to do this.
Capture as many ideas as possible, being careful not to drift into discussion or criticism at this stage. Placing your findings from steps 1 and 2 on a projector or screen can help spark ideas.
Another option is to use an online name generator.
The service takes your input about products and brands and generates lots of potential names, all of which are generated automatically.
The majority won't be for everyone, but you might find a few gems in there to add to your test list.
- Test ideas
Once you have a few product candidate names, 15 is a good maximum to aim for. It's important to do some qualitative analysis to find out how the target audience responds to it.
Getting feedback from a wide variety of people is a key step in the product naming process and can save you a lot of additional steps in the future.
When designing a product name testing survey, it's a good idea to ask about:
- Attract
- Trust
- Relevance
- Creativity
Conclusion
These results should show you the top names overall and in each category. The analysis of individual names will include sentiment as well as important data about the consumer's likelihood of purchasing the product.