THE MOST SUCCESSFUL business leaders know the importance of product promotion. You don’t just wake up one day and decide to execute this undertaking. It has to follow a format for a success story to emerge! A brief, but significant, explanation regarding the product is a key thing. At times, this can prove to be more complicated than simply picking a name. Experts are there with advice on how to create an effective brand for products and services of an organization.  It’s smart to conduct research to ensure that the name that has been chosen isn’t already taken by someone else in the market.  There is more than a legal reason for this; if you have a plan for major expansion, you don’t want your customers to confuse your company with another one in your industry. In short, your brand name should be unique for a multitude of reasons.

An organization needs a name that will be impactful in the immediate market. No matter how big the business may expand, the name will have no problem getting to be known in other parts of the world; a culturally-neutral logo will help with that, but that’s another article for another day. Remember that the name you give your product has a long-term effect on clients in that it will linger in their minds and eventually become part of their lifestyle.  Think about what “Coca-Cola” or “Disney” means to us. They’re not products we buy; they are a major part of our lives. Therefore, it is an undertaking worth toiling over.  Reflect on the fundamental market research you conduct in order to garner impressions regarding brand names. For instance, summon several focus groups to gather their responses to a range of names; these can be friends or family members, too.  Formulate a way that clients can provide various potential names for you. One way to do this is through the use of survey cards.

The following benefits are associated with branding:
  • They help in market segmentation
You will find that, almost indistinguishable products could trade in distinct distribution channels. This will occur under different names and placement.
  • They help to create a personality for your product or organization
A brand name can create projections about its performance and a general feeling regarding it.
  • A good brand hastens purchasing
Customers will find themselves buying your products without any major reconsideration since you had made a satisfactory decision appertaining the brand at the very beginning.
  • Cuts down competition
This will come about due to the achievement of a brand loyalty from your customers.  The best way to achieve this is for the brand name to be short, easy to pronounce and memorize, and to be distinguishable from the competition.