Why You Can't Afford Not To Conduct Brand Name Research

Consumers respond differently to a product or service’s name so it is important to perform brand name research to avoid surprises. Brand name research is also useful in product positioning. For example, a brand name like “uMoveit” helps people understand that it’s a self serve, inexpensive brand compared to “LuxuryMovers” which implies that you will be pampered, and charged accordingly.

As a company creates a new brand name, it needs to perform research to make sure the new name fits specific criteria. The chosen name will affect the brand’s image, and quite possibly its sales potential within its target market. Additionally, the name should be pleasing to the target market in question. It must not only complement the product or service, but it should also be something that consumers will have no problems pronouncing or remembering. The brand name should also have a wide appeal across cultures and have qualities that let it stand apart from its competition. Moreover, the company should be able to trademark the name.

Nova was a bad name choice for a car in Spanish speaking countries as it means ‘doesn’t go’ in Spanish.

Other qualities a brand name should have include the potential to last a long time and its potential emotional bonding power with the target audience. Building brand identity and loyalty is part of creating that emotional bond that translates into sales. In some case, brand affiliation can become part of a person’s identity. Consider the effect of brand names on clothing and what it says about the wearer. Selecting a certain brand helps people fit in and affiliate themselves with a certain group or class.

Because the brand name is such a huge investment that will affect everything from marketing strategies to social media to advertising, it’s best to employ a professional market research company with qualified people to analyze the research data. Conducting research ahead of time takes the guesswork out of creating new brand names or possibly renaming a product or service. It can also raise red flags that otherwise might not have been noticed and potentially could save a company from making costly mistakes.