A Rose by Any Other Name…
- Being “on trend” is no-brainer when it comes to selecting your brand name. Or is it? Trend easily slips into copycat territory- look around the marketplace and see how many other brands are referencing the same trend. Is there still room to make your mark, or has it been done to death?
- Branding copycats are common, and can find some success if the goal is to take away market share from the industry leader. Slow Cow famously introduced their new “relaxation drink” into the market in an attempt to drain away some of Red Bull’s energy. The bovine newcomer may have had to redesign their packaging to avoid copyright infringement, but their clever head-to-head product positioning generated a lot of buzz, and caught consumers’ attention.
- With so many products on the market, originality may be becoming increasingly difficult- and putting a twist on a brand concept that is already out there may be a place to start. But if you want to really capture market mindshare, you may have to push it farther than just following the herd.
- And remember- just as brand names can have positive cachet if they remind consumers of products or businesses they already love, negative associations are also possible! And for heaven’s sake- take the time to do back translations if you are heading into foreign markets, or you risk having your product being the equivalent of the locals’ unmentionables!
- Read more: Branding Tip#4: Be Flexible