Brand naming the tot product

Branding as we are aware has become the buzz word for todays market. As it is rightly said that a brand has no expiry, therefore each and every factor has to be taken care while developing the strategies for branding. This is because a brand involves certain meaning to it which can be the attributes which it brings in mind of the consumers, attributes on the other hand is translated into functional and emotional benefits, top of it the brand also conveys about the manufacturers value. Just as omega or Rolex watches have the value for high quality.

In our day to day life we come across various product names, be it a Mercedes, Armani ,or a nike. The top of the mind recall allows us to relate these name to the products such as we know that merc is a car, Armani clothing and nike has sports gear and accesories. These are nothing but the brand names which we are talking about, which is really the most important strategy of branding which I believe.

The topic brand naming the tot product simply means giving the new product a brand name. Suppose a firm decides to brand its products or services, it must then find out which brand names to use. The strategies which goes behind this are:

Individual name to the product – Big bazaar has private label brand name to different product categories such as knighthood and AFL for shirts, DJ&C and Buffalo for jeans. This is just a strategy built so that if the product doesn’t do well in the market or is not accepted by the consumers then the image of Big Bazaar is not directly at stake. This way many retailers have come up with their private brand names and have been successful too.

Blanket Family names – Blanket family names means the product name will have the family name as the brand, just for example Bajaj has same strategy such as Bajaj Fans, Bajaj Filters and filter candles, Bajaj automobiles. Godrej can also be seen giving blanket family names such as Godrej Furniture’s, Godrej infrastructure, Godrej refrigerator, etc.

The advantage of this strategy is that it gives more confidence to the consumer to buy the product because they are aware of the values which the family group provides and also it saves the research and advertising for the name of the product.

Separate Family names for each product - In this the family group gives different name to the different product. For example tata uses this in case of Tanishq in case of Jwellery retailing and Westside in case of Apparel Store.

Corporate name combined with individual product name – In the case of Reliance the products owned by the partner Anil Ambani has the corporate name ADAG(Anil Dhirubhai Ambani Group) and this corporate name is combined with the individual product name. For Ex:- ADAG Reliance Infocomm, ADAG Reliance Power etc.

Therefore we can say A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.