Published by:
Harvard Business Publishing
Revision date: 12-Feb-2013
Length: 3 pages
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Abstract
Although there''s ample research to guide marketers in naming new products, little of it has addressed follow-on offerings, even though these make up the bulk of new products in many industries. Companies have two basic strategies to choose from. They can stick with a name, often adding a sequential indicator (PlayStation 2, PlayStation 3), or they can come up with an entirely new name (Nintendo''s Wii). Three questions managers should consider when deciding whether brand-name continuation or brand-name change is the best way to go for their next-generation product.
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Abstract
Although there''s ample research to guide marketers in naming new products, little of it has addressed follow-on offerings, even though these make up the bulk of new products in many industries. Companies have two basic strategies to choose from. They can stick with a name, often adding a sequential indicator (PlayStation 2, PlayStation 3), or they can come up with an entirely new name (Nintendo''s Wii). Three questions managers should consider when deciding whether brand-name continuation or brand-name change is the best way to go for their next-generation product.