What's in a name? | Branding post

Bonjour mes amis!

 

What's in a name?

"That which we call a rose,


By any other name would smell as sweet" 

Well, sometimes a name is everything. At least when it comes to branding.

Nokia is capitalizing on its strong maps reputation with a new product it (re)named HERE. It offers users a number of new features: 3D imaging via its web platform, save and share locations feature for cross-platform access, and a points-of-interest recommendations feature based on your location. My favorite feature is the MAP EDITING one that will allow you to add roads and paths that aren’t present and share them with others. 

So, if you have an easement over someone's real property you can feel free to sketch it out on your map. How cool is that? And for those who know why I said real property, you are cool. For those of you who know what an easement is without googling it, you are beyond cool!

Nokia Maps were already available on the web but this product is being rebranded. Check out the new look of HERE below.

 

Above are some screen shots I took off of my iPhone's HERE app.

Instead of building off of its Nokia brand, Nokia is separating its mapping business by making it a standalone business under the name “Here.”

What the rebranding means for Nokia Maps

• The rebranding means that Nokia’s name will not be attached to the product and the “Here” name will be instead used.

Reasons a company should use its existing trademarks on new products or services:

• A company working off of its established reputation may find it easier and beneficial to license its new products using its existing company name and/or other popular trademark. Licensing a service or product with a known name adds credibility to the new service or product. 
• Licensing can promote the continued growth and positive perceptions of an existing trademark; however, it may also be official to start a new brand to link with an existing trademark.

Reasons for a company not to use its existing trademark on its new product or service:

• A new unknown name may be beneficial when pitching to companies that can be competitors in any services or products. A company that may be a competitor in another realm may be unwilling to license the company’s products because the company, potentially a competitor, may see the licensed use of the product as promotion of the product’s company. Yet this business would likely be more susceptible to a licensing agreement if a new trademark were attached to the product or service, so that the consumers would not necessarily automatically think of the product’s owner.
• When pitching the new idea to outside companies, the original company can still benefit from its existing trademark. Also, when an established brand works with another company that has an established name, the partnering company may not be fond of having another brand's name displayed on a project they are helping create or fund. 

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