New Product Development And Marketing |Get Solution

Discussion Forum 5: Creating Brand Names In Discussion Forum 5, post your response to the following discussion topic. Reply to at least two classmates’ responses by the date indicated in the Course Calendar. For marketers, brand names are valuable assets that must be selected with care. Some companies hire a specialized marketing research firm to create and test potential brand names, whereas others prefer to handle the process internally. Now “do-it-yourself” marketers can use brand-name-development technology offered by Namestormers. (Note: You may wish to use other comparable sites as well as this one.) The company’s Web site http://www.namestormers.com explains how its NamePro software can be used to generate brand names and offers a few downloadable demonstrations. Also on the Web site is an explanation of NameWave, a Web-based service that presents up to 40 brand-name ideas for products in categories selected by the user. What are the advantages of using NamePro or NameWave? What are the disadvantages? If you were responsible for developing a product’s brand name, would you choose one of these options? Why or why not?