In 2005, I was determined to test the effectiveness of my new brand through a professional market research firm. Knowing how much he believed in it was not enough; He had to find out what the target consumers would think when seeing it for the first time. At that time, my trademarked 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 vision of this remarkable name. However, would it grab the consumer’s attention or, more importantly, their pocketbook? Here is a case study of my experiences in real world market research.
In 2005, I had already created a new product brand and needed to know how to best reach my target audience. So I hired two companies: one was a web development company to create an informative website and the second was a market research company. The goal was to get the word out about my new brand.
While the product website was under construction, we began developing an online survey. This survey was implemented nationwide to get the broadest 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 most likely product categories to associate the brand name with were:
(a) safety and first aid products;
(b) health/personal hygiene products, and
(c) over-the-counter pharmaceuticals.
More than 50% of those surveyed selected the brand to appear in bandages, joint pain ointments, sports/energy drinks, and cold/allergy medicines.
They even provided nine descriptive terms that consumers think of:
healing
Dildo
support
Dependent
soothing
trustworthy
Pain relieving
Sure
Sure
These adjectives we arrived at through our market research are connotations that most manufacturers would love to have associated with their product name!
Why was it important to determine the adjectives? Because these connotations became the keywords we use to create all 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 configuration of the product along with powerful marketing words that touched consumers. This PowerPoint also served as a great unique ‘point and click’ visual on the website. The marketing findings were written in a quick fact sheet that website visitors could download and view at their convenience.
The most comforting result of my investment in market research was that the survey supported my theory that this remarkable 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, online, and presentation marketing efforts. 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, be sure to set aside money for independent market research on your product idea as well as your product name. You will be glad you did!