– Mark Prus, Principal, NameFlash
I’m often asked by companies if they should change the name of a product, service or even the company itself. Here is my shortlist of 10 really good reasons to change your name:
Growing up in the 80s, it’s amazing how both fashion and technology have evolved since Scrunchies and Commodore 64s – although a quite separate evolution. I can’t recall a fashionable pager (really, go try to find one), or a chic mp3 player (I had an Archos Jukebox, look at that brick). That all
– Debbie Laskey and Ward Schendel
We all learn a great deal from DuetsBlog and the legal and marketing community assembled by Steve Baird and his team. As guest bloggers on DuetsBlog, we, Debbie Laskey and Ward Schendel, recently had a conversation about the importance of strategic planning and decided to collaborate on a joint
—David Mitchel, Vice President of Norton Mitchel Marketing
Successful brands often find holes in markets that need to be filled. There are numerous examples to illustrate this point. Microsoft found a great niche in the computer software market and their success made Bill Gates one of the richest individuals on the planet. Apple’s iPod was a product innovation that really enhanced the company’s bottom line. In the 1980’s, Porsche expanded their line of sports cars into a new niche with the 944 and it helped save the company from bankruptcy. However, sometimes holes exist for a reason and they can’t be filled despite the best branding efforts.
The latest example to illustrate this is Devotion Vodka. Devotion Vodka is a protein based vodka. The protein used in Devotion is casein, the same type of protein found in dairy products. According to its website, Devotion is "the world’s first and only 80 proof, triple-distilled casein infused vodka made in the USA". Recently, Devotion announced that they signed Mike "The Situation" Sorrentino of "Jersey Shore" fame to be their spokesperson. Additionally, The Situation will have an equity stake in the company. I believe The Situation is a reasonably qualified spokesperson for this brand. The Situation likes to drink and party as evidenced by his actions on "Jersey Shore" and he is also a fitness enthusiast.
Despite the alignment between The Situation and Devotion Vodka, it is unlikely that this will be a successful brand. This is because the product concept is flawed. The vodka is aimed at a fitness oriented individual. However, vodka is not perceived as a fitness oriented beverage. Additionally, I believe that people will have a hard time understanding how casein protein fits into a hard alcohol product. If the product concept flaw wasn’t a convincing enough argument, consider Devotion’s pricing strategy. Devotion will enter the market similarly priced to Grey Goose. Grey Goose is a vodka brand that is well perceived and associated with quality. It also holds cachet with those who live a Jersey Shore style lifestyle, a target market for the Devotion brand. In a consumer purchase decision between Devotion and Grey Goose, the vast majority of consumers should choose Grey Goose because of its brand equity and stronger price-value proposition.Continue Reading When Holes in Markets Can’t Be Filled
–Dan Kelly, Attorney
Can you spot the genuine iPad?
Back in July, I blogged about my then-discovery that Apple did not own the federal trademark registration for iPhone. Needless to say, when I heard about Apple’s new iPad product, I just had to see if they were out in front in securing trademark rights
–Dan Kelly, Attorney
This reminder is a bit late for new Christmas-season consumer products, but it bears repeating year round, as companies contemplate new products: buy domain names associated with a new product before announcing the new product. This seems like an obvious thing to do, but I regularly read stories where companies fail to
"What am I?"
Every invention begs this essential question of identity.
The answer is found in the product’s descriptor. A descriptor defines a thing, categorizing it, framing it, positioning it and signaling its intended future.
A product that doesn’t claim to break new ground adopts its category’s standard convention. For example, a new, run-of-the-mill digital camera would be marketed as a "digital camera".
A revolutionary product, on the other hand, deserves an innovative product descriptor. And, sometimes, a me-too product benefits from one, too.
The trouble is, innovation is easier done than said.
I wrote in this article about the "brander’s paradox": Human instincts make us wary of unfamiliar and different things, yet differentiation is essential to a product’s success.
By definition, an innovation is unfamiliar. How can its product descriptor differentiate without triggering people’s fear of the unknown?
The New York Times gives us an idea in this recent article about product descriptors,
"When people encounter something they don’t recognize, they make sense of it by associating it with something familiar."
The most effective new descriptors combine familiar terms in unfamiliar ways. They make product function or form clearly understood, even upon first exposure. Novel descriptors insufficiently informative should at the very least pique interest.
Descriptors that differ
The products shown below the jump illustrate different approaches:Continue Reading Describe Different
