First impressions count—make sure your name is ready.
This is the last installment in a series of thought-provoking questions that savvy marketers consider when naming a healthcare product, service, or company. (Miss one of the previous posts? Click these links to access week 1, week 2 or week 3.)
1. How will we communicate the meaning—and value—of our new name?
Your brand name can mean anything you want it to, but if the meaning isn’t obvious, you’ll probably have to create the brand context and tools to help fully convey the value to your buyers. The benefits of creating your brand persona from scratch are considerable and a preferred way to go for many companies.
2. Does our name imply a promise that encourages customer preference?
A well-established brand name and brand position is your best weapon to fight commoditization. If three products seem to do the same thing with the same effectiveness, many consumers will choose the least expensive option. Your name is your first opportunity to stand out and say,“this is different.” Why do you think every piece of fruit in the supermarket is now branded with a sticker declaring its differentiated value? Sunkist wants people to perceive their oranges are juicier.
3. Is the name short, distinctive and memorable?
Call it whatever you like, consumers will inevitably reduce the name of every brand to a short, simple, and memorable byte. That’s why “Chase Manhattan Bank” is more commonly called “Chase,” The Siemens “Biograph Sensation 16” becomes the “Biograph,” and “Coca-Cola” is known as “Coke.” As these examples to suggest, any naming strategy can benefit from crafting the shortest possible brand title that remains easy to use and still carries the value of your positioning.
4. Could this name communicate the same meaning in other languages and cultures?
Great names are multi-lingual, sending the same message to every global market you participate in. If you’ve created a new name from scratch you’ll probably have an easier time establishing the meaning you want. However you go about selecting your name, however, it’s easy to avoid cross-cultural misunderstandings just by doing a little research with native speakers to identify any red flags and avoid any unintended meanings.
5. Does this name support our positioning?
Positioning sets the table for the entire conversation, creating the expectation in the customer’s mind of what they’re going to receive and the value they should ascribe to it. To evaluate the effectiveness and consistency of your positioning, try the three-word test. For Wrangler, it’s Real. Comfortable. Jeans. Pretty clear positioning, don’t you think?
Want the complete set of questions from this series in one place? Download our free name-generation worksheet. For more in-depth information on healthcare names—concentrated into a quick-reading parathink briefing—check out Names That Sell Global Healthcare Brands: How to create distinctive brand names that drive customer preference, sales and loyalty. Download it now for free!
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