Brand and Product Name
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I am looking for guidance on a brand name and product name for a fruit juice based beverage marketed to health conscious consumers. The new product will be known as an energy drink targeted at not specifically athletes but ever health conscious men and women within the middle and upper classes of socio economic buying power. We will be targeting those who are searching for quality and health-oriented products regardless of age. After all, schoolchildren, modern teenagers, young couples, parents care about the health of their family and even people over the age of 50-60 years old care about their health. And today's consumer behavior and consumer choice in the field of foods and drinks is more related to their values and beliefs. Thus, we are marketing towards the esteem needs - hoping to provide them a feeling of satisfaction and self confidence that they are consuming a healthy beverage which has healthy benefits. But I am somewhat blurry on the brand and product name. I was thinking the brand name could possibly be linked to nature, growth and/or the fact that it is the center or basis for the product and health. But the product name could be Natures Advantage.
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Solution Summary
This solution describes how to decide on a brand and product name.
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The Dictionary of Business and Management defines a brand as:
"a name, sign or symbol used to identify items or services of the seller(s) and to differentiate them from goods of competitors."
A brand is the only aspect of a company that truly differentiates your product or service. Brands act as "mental shorthand" for customers when they decide what to buy. Marketing's goal is to create and continuously manage a distinctive environment for its brands.
According to the wikipedia, a good brand name should:
* be legally protectable
* be easy to pronounce
* be easy to remember
* be easy to recognize
* attract attention
* suggest product benefits or suggest usage
* suggest the company or product image
* distinguish the product's positioning relative to the competition.
http://en.wikipedia.org/wiki/Brand_management
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