In 2005, I was determined to test the effectiveness of my new brand through a professional market research company. Knowing how much he believed in it wasn’t enough; He had to find out what target consumers would think when they saw it for the first time. At that time, my trademark name was approved in the United States and filed or registered in more than thirty foreign countries. The name was legally protected as well as it could have been in so many countries as a result of my global view of this remarkable name. However, would it attract the consumer’s attention or, more importantly, their pocket? Here is a case study of my real-world market research experiences.
In 2005, I had already created a new product brand and I needed to know how to best reach my target audience. So I hired two companies: one was a web development company to create an informational website and the second was a market research company. The goal was to spread the word about my new brand.
While the product website was under construction, we began the development of an online survey. This survey was implemented nationally to obtain the widest possible response from consumers. Some of the interesting highlights that the survey revealed were that:
64% of respondents were open and receptive to the new brand name. This was important to me, because it meant that people liked the name.
The three product categories most likely to associate the brand name were:
(a) safety and first aid products;
(b) health/personal hygiene products, and
(c) over-the-counter pharmaceuticals.
More than 50% of respondents selected the brand to appear in bandages, joint pain relievers, sports/energy drinks, and cold/allergy medications.
They even provided nine descriptive terms that consumers think of:
healing
Dildo
support
Dependent
soothing
Sure
Pain relieving
Sure
Safe
These adjectives that we came up with through our market research are connotations that most manufacturers would love to have associated with their product name!
Why was it important to determine adjectives? Because these connotations became the keywords we use to create all of our marketing materials. We wanted to use words that would resonate with consumers.
Based on the market research findings, we created a PowerPoint slideshow to illustrate how consumers interact with the brand name. This was effective because it combined images, including graphics to illustrate the product configuration along with powerful marketing words that touched consumers. This PowerPoint also served as a great unique ‘point and click’ visual element on the website. The marketing findings were written up in a quick fact sheet that website visitors could download and view at their convenience.
The most reassuring result of my investment in market research was that the survey supported my theory that this notable name was a “positive brand strongly associated with multiple product categories.” Was it worth the expense of investing in market research? Yes, because it gave me insight into the minds of my consumers, more valuable copywriting for future print and online marketing efforts and presentations. It also saved me money by investing in flyers and an online website presence that would connect with my potential customers.
I highly recommend, if you are an inventor, make sure you set aside money for independent market research on your product idea as well as your product name. You’ll be glad you did!