The number of products in a range and the product variety in a segment influences communication, which a name strategy has to manage. The more products on offer, the more effective and precise the communication has to be through the name system.
NAMBOS develops naming concepts for heterogeneous product portfolios, holding structures or pricing systems.
What does a name system have to achieve?
The associated strategic decisions have a significant impact on developing a name system. The market situation in terms of competitors and the presence of own products in the market forms the basis. The name strategy sets the future course by re-organising own products and the focus for communication that this entails.
The purpose of name systems is to create greater transparency for structures and relationships between products or companies, making it easier to navigate through them.
They should enable companies to give new products consistent names according to specific rules, whether under their own initiative or with external support. Name systems have to be adaptable and future-proof and compatible with the originator.
A naming concept conveys identity – it makes statements about the products, their features, nature, quality and therefore contributes quite significantly to the first and, in most cases, the lasting impression of any offers.
A good name strategy should not be restrictive
When implementing naming concepts all criteria must be followed with a sense of proportion. They represent the guidelines and should be handled viably and flexibly based on the particular situation in each case. Name systems should not be restrictive, however, demanding integration ‘at any price’.
It may therefore make sense to implement a name outside the name system for innovations or key products.