Question

In: Economics

f) Describe procedure of naming a product. g) Discuss the challenges of naming a product.

f) Describe procedure of naming a product.
g) Discuss the challenges of naming a product.

Solutions

Expert Solution

Answer : Naming a product is creating a self image and position in the market and create image in the mind of the people.

Five rules that should be followed while creating a description about the product in systematic manner:

  • It should be readable and writeable : As it means that people won't hard to pronounce and people won't able to talk about it and keep it simple and wacky.
  • It should be unique : As the complete unique and your product should be unique and provided care about unique about the product.
  • It should be short, punchy and memorable as it shows that name of the product should be simple and easy to remember in a systematic manner.
  • It should look written down in a systematic and logical manner.
  • It should be related to evoke of an emotions, ideas and feelings.
  • It should be creating values in the eyes of the customer.

Answer 2: Challenges faced by the naming the product :

  • Development of a trademark is a key issue in creating a product in the market place.
  • Difficult to access domain name and creating a product name in the market place.
  • To test linguistics of the name of the product in systematic manner
  • New brand name should not a access with the existing product in the market place in systematic manner.

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