When an established consumer packaged goods company introduces a new product, it faces a potentially make-or-break decision: how to brand it. Tying it to an existing brand is tempting. Customers are more likely to try a new product with a familiar association, and companies have to expend fewer marketing resources to launch it. But the strategy has risks, too: Weak or failed brand extensions can harm the parent brand.
The researchers examined nearly 20,000 products introduced by U.S. CPG firms from 2000 to 2012. They determined which of three branding strategies had been used:. By analyzing the new products’ performance and their companies’ financial returns, the researchers identified five product and firm characteristics that guided the most successful branding choices.
Analyzing the brands in their study, the researchers calculated that companies that followed the guidance of the five principles when branding a new product saw, on average, a 0.18% increase in stock market value in the five days around the product launch—which for large firms translates to as much as $26 million in shareholder value. Firms whose new products deviated from the guidance saw no increase around launch.
Of course! We look first at whether a product is one-dimensional: Does it do only one thing really well? In that case, it can be best just to say so. The research cites Tide Washing Machine Cleaner, which is a good example. That’s a way better name than something abstract, like Tide Alpha.
And above all and something not to take lightly is Doctor's time is too precious and they normally don't have time to help much for other things like technology.Having docs in family and friends certainly goes a long way and something to pave a way for smoother product delivery.