In 2005 I was identified to exam the usefulness of my new model name by using a experienced market investigate organization. Being aware of how a lot I believed in it was not ample I had to find out what objective customers would feel about it when seeing it for the 1st time. By this time my trademarked title was authorised in the United States and submitted or registered in in excess of thirty foreign nations around the world. The identify was lawfully protected as perfectly as it could have been in that several international locations as a consequence of my world-wide vision of this remarkable identify. On the other hand, would it catch the consumer’s eye, or extra importantly, their pocketbook? Below is a scenario research of my ordeals in true world current market exploration.
In 2005, I had presently produced a new products brand name name and required to know how to much better attain my concentrate on audience. So I contracted with two companies: one a website progress to create an informational web-site and the 2nd was a marketplace investigation company. The concentration was to get the word out about my new manufacturer identify.
While the product site was under building, we begun with the growth of an on the internet survey. This survey was deployed nationally to get the broadest shopper reaction feasible. Some of the intriguing highlights that the survey discovered were that:
64% of the respondents had been open up and receptive to the new model name – This was important to me, since it intended that folks preferred the title.
The 3 most likely merchandise categories to relate the brand name identify with were:
(a) security and 1st assist solutions
(b) personalized health and fitness/cleanliness products, and
(c) around-the-counter pharmaceuticals.
More than 50% of the respondents chosen the model title to seem on bandages, joint agony ointments, sporting activities/electricity drinks and chilly medicines/allergy aid.
They even supplied 9 descriptive conditions that buyers chose:
These adjectives arrived at by way of our market place exploration are connotations that most makers would enjoy to have associated with their merchandise title!
Why was it significant to identify adjectives? Since these connotations turned the key phrases we employed in producing all marketing components. We wanted to use phrases that resonated with people.
Centered upon the sector analysis results, we designed a PowerPoint slide show to illustrate the way in which buyers interfaced with the brand name identify. This was successful simply because it merged visuals – such as graphics to illustrate the item configurations together with the powerful advertising phrases that touched the people. This PowerPoint also served as excellent one ‘point and click’ visuals on the web site. The marketing results ended up prepared up into a quick simple fact sheet that internet site visitors could down load and check out at their usefulness.
The most comforting result from my market exploration financial commitment was that the survey supported my theory that this extraordinary name was a “good brand name title strongly involved with numerous solution groups.” Was it value the expense to devote in current market analysis? Yes, due to the fact it gave me insight into my consumers’ minds in addition worthwhile wording for potential advertising attempts in print, on-line and shows. It also saved me income by investing in flyers and an on-line website existence that would connect with my possible customers.
I strongly advise, if you are an inventor, be confident to established aside cash for an independent sector research on your item idea as very well as your product name. You will be glad that you did!