How to choose right name for Pharma Products
Choosing a name is always be the most difficult part in developing a product and transforming that name into a “BRAND” has its root in the name itself. Choosing the right name for Pharma Products is just getting tougher, because Indian Pharmaceutical Industry has over 60,000 generic brands and this number is growing day by day.
Because great brand delivers great profits, it is the must have learning to known how to choose right name.
While choosing an ideal brand name you may consider the following points
1. Purpose affiliation or relation brand name
Relating the product to the brand name is the most important and immensely difficult work to do. In Pharmaceutical industry having a brand name directly related to product benefit or any disease the product treats is a dream com true. Some example are COVISHIELD of Serum Institute of India Pvt. Ltd. and nicotex fo cipla.
So it is the best to incorporate some part of molecule, treatment, Indication and disease name within the name of the brand. It is also helpful for medical professionals like doctor to remember the brand name.
2. Sufix or Prefix which go first in the brand name
It is true very true that celebrity can make a product into brand overnight, do you know why? Because infamous or new thing gets fame when associated with famous entity. It also applicable when choosing right name for pharma product.
If your company name is already popular, that may have helpful to your product also. Just by adding some part of company name in sufix or prefix of your product name will be very helpful to make it a brand.
It will be very easy to remember the brand name for people who already know your company name. Example are CEFAKIND of mankind and LUPASE of lupin pharma. It first point can also be used in this name type work the best.
3. Pronounceable or phonetically correct brand name
when pick a name it is very important that it should not be a tongue twister or very difficult to pronounce. If you consider the first point, then you already get the known phonetical word which is well known and aids in making the right name.
For legal purposes the name should not be phonetically similar to other registered brands. Indian patent process strictly disallow phonetically similar brand names. You can learn more in this blog.
4. Memorability or catchiness of brand name
Have you ever come across a song which you may have listened somewhere in the morning and you keep on singing the same song the whole day, do you know why? It is because of the stickiness of our brain, it quickly stick to thing which are entertaining.
Having some fun word or catchy word is very helpful for our brain to remember it. Our brain makes link to previously known word in our consciousness, if you connect that word and make it funny the listener will defiantly remember it. Wow is simple example
5. Brand name clash (other same name is registered by another company).
Now after doing all the hard work we came to out final and the most important point which is the brand name clashes with any other brands. Sometime you have to go in loops from this point to the very first one, because most of the time our competitor already taken the the name which you just make and the whole process just start again.
It is very important to check the name clash and very method to check name your choice online, as mention earlier the name also should not match phonetically with others. You can read this blog for detail insight of registering the brand name.
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