TYPES OF BRANDS
Brands are of six types explained as:
1. Descriptive: It explains the functions or provides detailed information to consumes. Example, Singapore Air lines using descriptive brands.
2. Suggestive: There are certain brands, which is suggestive of a benefit or a function. Example, Agilent Technologies.
3. Compound Brand : When brand combines two or more, often unexpected words, like – red hat
4. Classical: Meritor is an example using Latin, Greek or Sanskrit language for a brand.
5. Arbitrary: When a real word is used as a brand, but the word does not have association with company. Example is apple.
6. Fanciful: It is coined word with no obvious meaning. Example – avanade is a fanciful name with out any proper meaning.
HOW TO NAME A BRAND
5.2.6 NAMING PROCEDURE
A number of different procedure or systems have been suggested for naming new products.
1. The first step is to select a brand name for a new product. The brand selected should have certain objective, ideal meaning and recognize the role of brand with in the corporate branding hierarchy.
2. The second step is to generate as many names and concepts as possible. The names and concepts can be explored by company management and employees, existing and potential consumers, ad agencies, professional name consultants or specialized computer based naming companies.
3. The next step is the screening of names on the basis of objectives and marketing consideration identified in step-1.
4. The fourth step involves the collection of more extensive information on each of the final 5 to 10 names.
5. Consumer research is conducted to confirm management expectations regarding memorability and meaningfulness of the names through consumer testing.
6. Finally, based on all of the information collected from the previous step, management can choose the name that maximizes the firms branding and marketing objectives and then formally register the name.