A study on impact of product name on customer perception and its market performance

Abstract

Naming a product has been an important part of marketing strategy for any company. It acts as the first interface and represents the product to its customers. It helps the consumers in referring the product and recalling it. In the past, acute attention has been paid in getting the product name right so as not only to avoid any misrepresentation but also to attract the target segment. Hence, in this CCS project we intended to analyze the impact of product name on consumers and how product name can be related to market performance of the product. To start with we studied various articles and journals which dealt with the similar concerns. It helped us in identifying in what way product name impacts the consumers. Based on our findings we identified most important factors and formed our hypotheses. Then we went ahead with customer survey in order to test our hypothesis. Survey was created and customer responses were obtained. On the data obtained from surveys, we applied analytical technique of ANOVA to finally reject or accept the hypotheses and thus reaching to the conclusion.