Items filtered by date: October 2012
Friday, 26 October 2012 07:36

New Product Development: What is in a Name?

New Product DevelopmentNew Product Development: What’s in a Name?

One of the fun aspects of new product development is naming or branding the product. It's like naming your baby, once it's born.  It takes on a whole different personality. To be fair, most of the names I've developed are of the sub-brand variety.  For instance, the CrossAction name was a sub-brand of the Oral-B umbrella brand.  But it still comes alive in a way no other aspect of new product development does (except maybe new package development).

In terms of name generation, there are many ways to develop a brand (or sub-brand).  You can take the expensive route. For instance, when Honda developed the Acura brand back in the 80’s, they went to a name generation company and paid thousands to come up with it.  And did you know the root of name stems from the word “accuracy”? In other words, that’s what they wanted to communicate to the consumer, the high quality and precision mechanics of the car render it very “accurate” or “precise”.  Now accurate isn’t a word I would necessarily use to describe a car, but paring it down to Acura works on a sub-conscious level while also giving the car a brand that is unique and not generic.

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Tuesday, 16 October 2012 08:51

U. S. Presidential Election, Part II

U. S. Presidential Election, Part IIU.S Presidential Election part II

As a follow up to my earlier article about the 2012 U.S. Presidential election, we’re getting down to the last 3 ½ weeks.  And the battle, as I stated before, is now down to the key swing states and rests with the ability of each side to attract independent voters, in other words those voters with whom the election rests.

What we’ve seen was candidate Obama more or less nursing a lead going into the first debate. In fact, some pundits were prematurely calling the race over.  However, Mitt Romney’s commanding first debate performance was a turning point for his campaign.  Suffice it to say that he more or less gained enough ground on the strength of his performance to pull at least even in the polls if not pull ahead in key swing states. As I mentioned before, I tend to look at the race partially through the lens of a marketeer as kind of a truncated new product launch.  The objective is to get your product sold before competitor B does. What makes this unique is that there are only two competitors.

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