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9/3/2008 - WHAT IS THE NUMBER ONE RULE FOR A SUCCESSFUL PRODUCT LAUNCH
Screw this up and your product is dead in the water!
By Beth Wampler
New product or service launches are fun—and a lot of work. Identifying target markets, defining features and benefits, creating ads and sales material, designing logos, establishing sales channels and price points, and so on. But there is one thing that will impact all of those processes and the very success of your product: its name.
It's a critical element of the product. You may have the greatest invention since sliced bread, but with a bad name you won't be able to interest the right people—and could even turn them off. Your new product name needs to be memorable, relevant to its core benefits and to your audience, and easy to pronounce. (In other words, if you see it written, you should be able to say it. If you hear it spoken, you should be able to spell it. It should not require any explanation or a pronunciation guide.)
Many products start out with an "internal" name while they're being developed. This internal name may be an inside joke within the company, a poke at the competition’s product, a number, or just a pet name of the product development team. 99% of the time, that internal name won't be the best name to go to market with. Why? Internal names rarely serve marketing interests. They were created for your inside audience not your target audience.
In choosing a name, you want to avoid names that are too similar to your competitors' products or are just straightforward descriptor words. You want to stand out, not blend in.
Two words of caution: although you want to have a name that is memorable and stands out, be sure the name you choose works within the greater context of your brand. You don't want people to feel that this new product isn't "you." Also, make sure your new name can’t be misconstrued in another language or non-American pronunciation. Microsoft OneCare, to British ears in a British accent, most definitely isn’t what Microsoft had in mind.
About the Author
Beth Wampler, a BMA Colorado member, is President and Creative Director of AOR, Inc., a thriving Denver-based agency that specializes in B2B channel solutions online, in print and multi-media for clients nationwide. Beth is a University of Denver graduate, a speaker on marketing topics, and an avid mountain biker.
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New and Renewed Members, September 2008
WHAT IS THE NUMBER ONE RULE FOR A SUCCESSFUL PRODUCT LAUNCH