Branding is all about giving name and life to your product.Choosing the brand elements is very critical component for any marketer as it is through these brand elements customer get to know your product and create a unique position in their minds,Reading through the economic times special edition(Brand equity)today, there was a full page color print of a new website "NAAPTOL.com" which fascinated me. The service they are offering is a website, where a consumer can compare the prices of products and locate the stores which offer the lowest price.These kind of websites are quite popular in U.S and the fever is catching up in India.The owner of website gets income from the stores which get listed their products as well as the commision per transaction.what I liked about this product(website) was the name that is the NAAPTOL.com.Naaptol means comparision of prices or measurement of quantity in Hindi. the brand elements has been chosen very precisely. that is
1)It is MEMORABLE,unlike the other websites in the same segment,which have names like pricescan.com,priceindia.com compared to these names naaptol is easy to remember and gets that Indian touch.
2)It is MEANINGFUL: what the site does is comparison of prices.and that's exactly the function of this website
Successful websites which provide service in India prefer to keep the name in a Indian language like baazi.com,shaadi.com,naukri.com,yatra.com.And these all have been successful in brand recall.
