Thursday, May 21, 2009

Brand Name: How to name a product


For an initiative that we have undertaken at Congruent, my colleague and I met up with Mr. KR Chandrasekaran (Chandra), COO, Java Green, last weekend. We are building an IT product and sought Chandra's advice on how we should name the product.

After hearing our story and checking out the details, Chandra suggested a framework to work on. Chnadra opined that the brand name should ideally provide cues to what the product is likely to do for customers. This would help in easy association in the minds of customers, esp for brands that may not have a large advtg budget. He gave the example of Fair & Lovely and (at another level) Surf detergent. Surf surfs well (foams well). Of course, there are successful brands with names (like Nike or Accenture) that may have no direct meaning that consumers can associate with but they usually require significant time, effort & money to build.

He suggests that a brand name should preferably have 3 elements to it:

1. Name
2. A Category Descriptor
3. Benefit or tag line

He advised us to use Aaker's model, which provides an useful and practical approach to developing a brand's identity and helps to look at a brand in its entirety. He also strong suggested us to read Building Strong Brands by Mr. David A Aaker. I have added to the same to my wishlist.
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