INNOVATION | DESIGN
Great Product Innovation Needs a Great Name
Four simple steps to uncover a fitting product name
When Michael Dyson designed vacuum cleaners he made sure that the final product looked different — futuristic.
In fact, a Dyson vacuum would not look out of place on a Star Wars movie set.
Think about it.
If George Lucas had a Dyson vacuum in the 70s the audience would easily accept it as some type of time machine or a sophisticated weapon, or both.
Today we recognize a Dyson vacuum as a domestic cleaner.
But vacuum cleaners didn’t always look like this. Last century they were boring, devoid of color and unsexy — not that they’re sexy now — you know what I mean.
A brand becomes synonymous with innovation through beautiful design.
Steve Jobs was a master at this.
The Next computer design outweighed the fact that it was technically inferior. When Jobs returned to Apple, design features and functionality were at the forefront of every launch.
This article will discuss four crucial elements used by Dyson and Jobs to make a product look innovative in order to get the message across to the audience.
№1 — Customers
Although Steve Jobs would disagree, the vast majority of product managers, inventors, and designers use design thinking techniques to produce an MVP; a prototype for early-stage customer testing and feedback.
In parallel with prototype development, businesses must be able to answer the following questions about their target audience
- Who are they?
- What do they want?
- Why would they buy our product?
- What features and benefits would attract them?
Whether you’re designing a product or service the approach is the same to deliver business innovation for the consumer.
№2 — Characteristics
By understanding their audience, the target consumer, development teams can start to implement product features, derived from market research:
- What should our new product look like?
- Does it look innovative — is it sexy?
- How will our product work?
- What problem(s) will it solve?
- Will it do what the brand name suggests?
Product functionality is a collection of requirements highlighted by the consumer during the early-stage market research phase above.
№3 — Market Competitors
Knowing your competitors is a strength. By conducting ‘competitor analysis’ your team can learn:
- Who your competitors are (including new entrants)?
- How your product is different?
- How your product name or brand differentiates in the mind of the consumer?
- SWOT — What are your strengths, weaknesses, opportunities, and threats?
Market boundaries are becoming blurred. Your competitors may not participate in your market today so look outside your marketplace.
№4— Message
Storytelling has become a popular tactic during product launches. Dyson and Jobs executed this skill with perfection.
- Can you tell a compelling story about your product?
- Do you have a winning product name?
- How, where, and when should you deliver your message?
A compelling story can be a powerful ally for a marketers’ toolkit.
As for a name, there is no right or wrong way to choose a winner. But think of iPhone, Dyson V10, McIntosh to appreciate how brand extensions work to project meaning.
Also, launch channels are important. How can you get your message across depends on where your ideal target audience hangs out — online, on social media, or offline are some examples.
Final Thoughts
There is no guarantee during product innovation, but the process can result in beautiful designs and a compelling name or brand extension.
To recap, below is a summary of the four main points:
- The Audience — Get close to the customer and exceed their expectations.
- Characteristics — Don't just match customer requirements, add a wow-factor through beautiful design.
- Competitors — Always keep your finger on the pulse.
- Message — Words, music, and images/videos can trigger emotional and psychological desires that inspire your ideal customer to act and recall your brand, your product name.
Research and design precede an innovative product name, but each step is an important cog on the journey of discovery.
To learn more, take a few minutes to read the article below.
