tofi feb. 2, 2015 naming & positioning: coleman

8/9/2019 TOFI Feb. 2, 2015 Naming & Positioning: Coleman

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Naming andPositioningTrevor Colemantrevor@interaxon.ca@trevorcolemanhttp://www.choosemuse.com

What a Product Is

Product is a solution that solves a need for amarket.

Positioning

Positioning is a way of defining your product inthe mind of the market relative to thecompetition.

How consumers make decisions

They choose things that are important to them.

Jack wants a car that is:

! Fun to drive

Amy wants a car that is:

! Safe

Lots of cargo space

Boring

Plain Sexy

Unsafe

CargoNo Cargo

Then they rate the options on those criteria:

Unsafe Safe

Plain Sexy

No Cargo Lots of Cargo

Boring Fun

Consumers make mental maps

Boring

Plain Sexy

Unsafe

CargoNo Cargo

Mental Maps are Multi-dimensional

Boring

Plain Sexy

He wants a car that is:! Fun! Sexy

But also! Budget of $25,000! Has a dog (needs a back seat)

Mental Maps are Multi-dimensional

Boring

Plain Sexy

He wants a car that is:! Fun! Sexy

But also! Budget of $25,000! Has a dog (needs a back seat)

How do you build the mental maps?

TALK TO YOURCUSTOMERS

! Surveys (typeform, survey monkey)!

Interviews

Ask people:!

Who they use now?!

Ask them to describe the differencesbetween competitors

Find niches

Niches are NOT demographic.

A niche is a small group of customers whohave similar mental maps for the productcategory you are selling.

1. Map out the competition(Include indirect competition)

Look for an open spaces

To choose a position for your product

Positioning Statement

Sentence that concisely and precisely conveysyour positioning.

Says who our product is for , and why theywould choose it over the competition.

Good positioning

! Differentiate your product from thecompetition’s

Address important customer buying criteria!

Articulate key product (or company)characteristics

Positioning Statement Template 1

[NAME OF BUSINESS]is

[KIND OF PRODUCT OR SERVICE] for

[KIND OF PEOPLE]

The Ford Fiesta ST is an exciting daily driver

for performance enthusiasts on a budget .

For [insert Target Market] the [insert Brand]

is the [insert Point of Differentiation] among all [insert Frame of Reference]

because [insert Reason to Believe] .

For performance enthusiasts, the Fiesta ST is the highestperforming car available under $25,000 according to J.D.Power and Associates

What: The only [category]

How: that [differentiation characteristic]

Who: for [customer]Where: in [geographic location]

Why: who [need state]

When: during [underlying trend]

Uber is the only car service you can book through your

phone for travellers in san francisco who need to get workdone on the way to their next meeting, despite the terrible

traffic.

Naming

Your product name is the first, and mostfrequent interaction your customers have withyour brand.

It’s a word that means your company, our

product, or your service.

Naming

Your name should capture the essence of yourproduct.

A good name is:

! Memorable!

Unique!

Communicate the value prop!

Easy to pronounce and spell!

Has an available domain!

Look good and fun to say

Your name should reflect the valuesof your consumer

Black & Decker = strong, dependableAveena = Soft, soothing

Kia = Fun, excitingLexus = Luxurious

Types of Names

Acronymso IBM

Amalgamo Nabisco (National Biscuit Co.)

Alliteration and Rhymeo Molly Maid

! Appropriationo Caterpillar

! Descriptiveo Toys R Us

Evocativeo

London Fog

Founders' Nameso Hewlitt Packard

Ingredientso Raisin Bran

Mimeticso Krispy Kreme, Google

Nicknameo Kinko’s

! Neologismo Verizon

! Onomatopoeiao Twitter

Personificationo

Green Giant

Portmanteauo Travelocity

Linguistics Matter

Plosives, Fricatives, Vowels, Diphthongs

! Short “i” = lightest sound in the englishlanguageo

Swiffer, Vim, Twitter

! Long “a” = slower, more luxuriouso

Acura, Elantra, Prada

Sources of Inspiration

! Fiction!

Foreign languages!

Word roots!

Sounds!

Movies!

Scientific Terms!

Thesaurus

! Fiction! Foreign languages! Word roots! Sounds!

Movies! Scientific Terms! Thesaurus

Focus on the benefit

Your name should communicate thebenefit to the consumer

not thetechnology that makes it possible.

Your name will evolve

! Your name will grow with your brand. Sothink about future product lines and how theymight fit.

! When in doubt: pick the name that worksnow.

Freshbooks -- lots of room for growth.

When coming up with names

Separate brainstorming and judging1. Come up with as many ideas as possible2.

Separate the interesting ones3. Rate for things like memorability, availability

of domains & social media handles,relevance etc.

Use a defined scoring rubric.

You will not find the perfect name.

So don’t waste time trying. Find a name thatworks, and that satisfies your criteria, and geton with building your business.

Your company will grow into it.(no one would ever have picked “Google.”)

tofi feb. 2, 2015 naming & positioning: coleman

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