Do you own the next Xerox?
Eliquis is a another great example of medical branding. They keep coming up with coined names like Ambian, Zocor, Lipitor, Pradaxa, Advair, Xanax and others that they can own forever.
Like Coke and Xerox they roll off the tongue and actually become generics in their own right because after the patents expire and folks can buy generics, they still ask for it by brand name. In the age where one would think all word combinations are taken the medical industry keeps coming up with fresh hand registrations.
And with all due respect to domain sites selling their version of LLLL and LLLL coined names, many of which have wide application beyond the medical filed and especially for startups, the medical names have a different ring to them. They have been developed by linguists and branding experts whose sphere of perspective and experience is very different than how a domainer thinks about a name.
So while deep-pocketed big pharma could easily settle for an off-the-shelf name from BrandBucket.com or Catchy.com for a pittance even at $40K, they will pay a million dollars or more to branding labs like Landor, or Marshall, who specialize in not just naming but what they call "brand architecture" to get the unique perspective that domineer-coined names lack.
But can we do better by studying how these name labs think?
Watch the spot below, see how advertising builds these brands, how the name passes the radio test, how many times they mention the word while showing it in print, and how the call-to-action is easy to remember and spell even though it would never pass a spell check.
Success begins with understanding.
Can understanding how they do this make you a better name maker?