While the summed importance of branding (of the carrier and the phone) in purchasing decision seems to remain constant at a total of 59% it is worth noticing that 19 percent of customers cite the type or brand of cell phone as a key factor during the initial process of selecting a wireless service, up from 11 percent in 2004. While the brand of wireless provider is still the most popular reason influencing the initial selection process, it has decreased significantly in importance, down 8 percentage points from 2004 to 40 percent in 2006.

Other key factors that influence the initial selection process are price/promotion (29%) and retail location (12%).

While this strategy is adopted due to high competition in the field, I honestly don’t find it sustainable on the long term because promoting the cell phone instead of the service plan and the carrier that provides that service may lead to sales growth in the short term, but it can potentially have a negative long term impact with higher churn rates.

The study actually shows this. As such, among customers who are most influenced by the cell phone brand, the likelihood of switching carriers in the next 12-month period is 60 percent higher than among customers who cite the brand of the wireless provider as their key factor in the selection process.

On the other hand study shows that among major wireless carrier-owned retail stores, T-Mobile ranks highest in customer satisfaction for a fourth consecutive reporting period. T-Mobile receives particularly high ratings in all four factors that determine overall satisfaction. T-Mobile is followed in the rankings by Verizon Wireless and Alltel, respectively.

Volume 2 of the 2006 Wireless Retail Sales Satisfaction Study is based on experiences reported by 7,530 wireless users who completed a retail sales transaction within six months prior to being surveyed. The results are from the two most recent reporting waves, which were conducted in April and July 2006. More about the study here.

Related posts:

1. Key Branding Trends in 2006 Robert Passikoff is president/founder of Brand Keys, which has published...
2. Brand Naming – 5 Tips Creating a new brand name, whether is a new company...
3. Customers are color blind In today’s e-commerce age, where everyone is forced to type...

Here is a list of 9 things that should be taken in consideration when naming a new business or product:
1. The Name Achieves Differentiation From Competition – your name should be different from the competition, as should your messaging.
2. The Name Reinforces Positioning in Marketplace – a name should make an impact and should bring forth some sense of the company’s position as it enters the marketplace.

3. The Name Engages Customer or Prospect – it should be something that causes interest, causes inquiry and causes potential for action.

4. The Name Is unforgettable – it should embed itself in the collective consciousness, tie to mental signposts in the consumer’s brain and help the consumer remember the name when speaking to friends.

5. The Name Has a Life of It’s Own – A company name needs to carry a self-sustaining message, something that identifies what the company does or provides, without additional messaging or clarity being added.

6. The Name Evokes Deep Well For Graphical Images – it helps develop a logo, and design for websites, etc.

7. The Name Rises Above the Goods and Services You Provide – it should have a greater, more encompassing edge than the things you provide – because if it is tied to services or products, and they change, your name might well need to, also.

8. The Name Has What It Takes to Dominate the Category – this comes from the idea of timelessness, of speaking to the consumer in an unforgettable way, but it also goes above and beyond that.

9. Url has to be Available for Registration For Web Address- extremely important issue in today’s time and age of the internet.

Related posts:

1. 5 Myths of Brand Naming After the 5 Tips on Brand Naming, here is an...
2. Trends in Brand Naming TippingSprung, a Manhattan-based brand consultancy, observed that few regular surveys...
3. Brand Naming – 5 Tips Creating a new brand name, whether is a new company...

But all this is about to change. Next month global agency group WPP will launch an alternative brand valuation league table that will directly challenge Interbrand’s calculations. The system has been masterminded by chief research officer Andy Farr and his marketing quant jocks at Millward Brown Optimor (MBO).

Here are some insights into this soon to be revealed WPP study:

• WPP’s annual Brandz survey questions more than 650,000 consumers and professionals in 31 countries.
• The results are analysed to create a combined diagnostic and predictive tool that evaluates the strength and growth potential of brands.
• Respondents are asked to compare more than 21,000 brands in 300 categories from sectors including long purchase-cycle brands, FMCG, retail and e-commerce and services.
• Each respondent is asked to evaluate brands in a competitive context from a category they shop in.
• Their responses generate scores for levels of bonding with a brand, its advantage over rival brands, brand performance and relevance to consumer needs.
• Consumer loyalty and claimed purchasing data are used to generate a ‘brand voltage’ score, indicating the brand’s potential.

More here

Related posts:

1. Best Global Brands by Value – 2006 Brand value is calculated as the net present value of...
2. Brand valuation – 7 applications Since seven seems to be the magic number which relates...
3. Five Management Traits For Global Brands Brand guidelines are tremendous tools for ensuring consistency. However, they...

1. An emphasis on “engagement.”
Inserting itself between traditional marketing activities and an increasing demand for return on investment assessments, engagement will become the Holy Grail for marketers and advertisers. Defined as the outcome of ad and marketing activities that substantively increases a brand’s strength in the eyes of the consumers, engagement will be used more and more to allocate marketing budgets.

2. Using technology to better meet consumer expectations.
Consumer expectations in all categories will continue to grow. Expectations have increased more than 26% in the past five years while brands have kept up with these expectations by only 8%! Watch for smart marketers to take advantage of unfulfilled expectations via such values as “convenience” and “customization.” More and more marketers will rely upon Web sites and high-tech capabilities to accommodate these values and differentiate themselves from the competition. Professional services and other non-traditional brands will probably take advantage of the new technologies and start build up brands for themselves.

3. Expanding the potential of Websites and blogs
Engagement concerns and attempts to meet or exceed customer expectations will fuse and be most observed online, particularly on blogs. Watch for increased development of blogs and Websites in general beyond propaganda, information, and use as an electronic cash register toward the creation of “communities of ones.”

4. “Recombinant” experiences.
Disney and Vegas: Oil and water? Consumer values indicate a bipolar continuum for recombinant experiences. Watch for this to reveal itself in more online gaming, especially for adults. Interactive gaming with more and more players being able to compete at once will become table stakes for online games. Marketers concerned with engagement will close their eyes to “appropriateness” and leverage online gaming as a more acceptable venue for virtually every brand.

5. More branded entertainment.
Popular culture, with its rabid consumption of music and technology, will see market and brand leaders leverage plugging-in as a method for customizing entertainment and selling products. For instance, music-related paraphernalia such as T-shirts, posters, and artist-related merchandise will infringe more and more on the dominance of bricks-and mortar retail.

Read full article here.

Related posts:

1. Branding Trends In all aspects of business, and branding makes no exception,...
2. Trends in Product Branding There are two trends in product branding, which may at...
3. Trends in Loyalty Marketing Brand loyalty will diminish as the defining metric of success....

Appearance – Simply how the name looks as a visual signifier, in a logo, an ad, on a billboard, etc.

Distinctive – How differentiated is a given name from its competition. Being distinctive is only one element that goes into making a name memorable, but it is a required element, since if a name is not distinct from a sea of similar names it will not be memorable.

Depth – Layer upon layer of meaning and association. Names with great depth never reveal all they have to offer all at once, but keep surprising you with new ideas.

Energy – How vital and full of life is the name? Does it have buzz? Can it carry an ad campaign on its shoulders?

Humanity – A measure of a name’s warmth, its “humanness,” as opposed to names that are cold, clinical, unemotional. Another – though not foolproof – way to think about this category is to imagine each of the names as a nickname for one of your children.

Positioning – How relevant the name is to the positioning of the product or company being named, the service offered, or to the industry served.

Sound – Again, while always existing in a context of some sort or another, the name will be heard, in radio or television commercials, being presented at a trade show, or simply being discussed in a cocktail party conversation.

“33″ – The force of brand magic, and the word-of-mouth buzz that a name is likely to generate. Refers to the mysterious “33″ printed on the back of Rolling Rock beer bottles for decades that everybody talks about because nobody is really sure what it means. “33″ is that certain something that makes people lean forward and want to learn more about a brand, and to want to share the brand with others. The “33″ angle is different for each name.

Trademark – As in the ugly, meat hook reality of trademark availability. All of the names on this list have been prescreened by a trademarked attorney and have been deemed “likely” for trademark registration.

Read more about it here

Related posts:

1. Evaluate Your Brand Brands are the most valuable assets that many companies have,...
2. 5 Myths of Brand Naming After the 5 Tips on Brand Naming, here is an...
3. Best Global Brands by Value – 2006 Brand value is calculated as the net present value of...

Creating a new brand name, whether is a new company or a new product line, is an opportunity to take a deep breath, take stock of who you are and where you’re headed, figure out what new things you need to add to the marketing mix, and what baggage you may be ready to leave behind.

The following key attributes should be present in every company name:

• Position the company/product within the markets it serves.
• Attract customers and prospects, usually by stating a benefit, specific or implied.
• Be memorable
• Be easily pronounced
• Have positive verbal associations and connotations.
• Be unique, not at all like competitor names.
• Be protectable.

Next is a list with some five things to be considered when you start naming a new company, product or service:

1. Determine How Important the Name Really Is

Having a clever name isn’t always important. Many companies thrive in industries that are based on government contracts, bidding wars, business friendships, etc., and their name is often just a unique identifier to be placed on legal paperwork.

For most companies, however, their name can be an integral part of their marketing process. A clever, memorable name can make a potential client think about the company for a few extra moments, which may be all you need to get the edge on your competitors.

2. Stand Out…

The most common mistake made when naming a new business endeavor is to make it sound like the others in that industry. This is based on anxiety about whether the new business will be taken seriously. In reality, it’s critical that you stand apart from your competition, and that you look to your competitors as examples of what to avoid.

There are literally 30 or 40 wireless companies called Mobile-something — Mobileum, Mobilocity, MobileOne. Make a rule and don’t pick a name with ‘mobile’ in it, if you name a wireless company.

3. …but don’t get carried away.

A name that doesn’t mean anything, or it has no depth won’t work ussualy. A name should connect with something already in the collective subconscious. Don’t forget, you’re trying to make an emotional connection.

4. Test your tolerance for going ‘out of the box.’

If you’re looking for something unusual, usually when it comes down to it, the obstacle is always fear. Make sure that the fears aren’t based on what happens to brands out in the world. It’s like Banana Republic. People don’t see the name and think, ‘Whoa, an ugly racial slur — I’m not going to shop there.’ It’s all contextual.”

5. Don’t involve too many people

Most corporations have no problem delegating marketing and advertising issues to the marketing department, but when naming is involved, especially naming the company itself or key products, suddenly everyone wants to have a say in the process, and it can quickly become politically and emotionally charged. Therefore, it is essential that you keep the number of people involved in a naming project to a minimum, that they have real authority, and that they all understand the ideas outlined above.

Related posts:

1. Portmanteau – Brand Naming Tips The Strategic Name Development Blog has an excellent post about...
2. 9 Things To Consider When Naming Your Brand Since we talked here earlier about Naming Don'ts, let's see...
3. 5 Myths of Brand Naming After the 5 Tips on Brand Naming, here is an...

External investor relations
Mergers and acquisitions were the original driving force for brand valuation. Now many successful companies use brand valuation as an ongoing business performance indicator: to help ensure that brand strength is reflected in share value.

Internal marketing management
Brand valuation is increasingly being used as a management tool in leading organizations. For example: brand valuation figures can be used to evaluate new product and market development opportunities, to set business objectives or allocate budgets.

Internal royalty rates
Across a large organization there may be many affiliates, subsidiaries or divisions that make use of any particular brand. As the profit potential of brands becomes more clearly understood more companies are charging royalties, across their business operations, for the use of these brand assets.

Licensing and franchising
Where companies allow outside organizations to use their brand, on a licensing or franchising basis, a brand valuation can lay the foundation for appropriate charges.

Tax planning
As the management of brands as financial assets becomes more sophisticated, so tax authorities around the world have started to take an interest in how these assets are managed. The result is that more and more international organizations are planning the most cost-effective domicile for their brand portfolios and are organizing their tax affairs with their brands in mind.

Securitized borrowing
Even in the conservative world of banking, the asset value of brands has been recognized. As a result brands have been used to secure loans, especially in the US, where companies such as Disney have borrowed significant amounts of money against their brand name.

Litigation support
Brand valuations have been used to support litigation against the illegal use of a brand name (as a basis for calculating damages, for example) and also in cases of receivership, to prevent the assets of the business being undervalued.

Related posts:

1. Approaches to Brand Valuation Interesting article on brand valuation on 4hoteliers.com website. First off...
2. 4 Brand Valuation Methods Value has different meanings to different people. The objective of...
3. New Global Brand Valuation Study Despite its dominance, Interbrand/BusinessWeek global brand league table has inherent...