The Hindu Business Line : What's in a name?

HOW IMPORTANT are brand names per se? Does the rose by any other name really smell as sweet? Marketing orthodoxy has for long stood contrary to Shakespeare on this question. Whether the name must mean something, or evoke a clear image or be memorable and mean something in the context of the product — all these are debatable these days, because enough examples can be brought forward to claim the irrelevance of all these qualities of a name. Just think of IKEA, Nokia, or Hertz. They fulfil none of the elegant criteria, yet are world-renowned. What does matter, however, appears to be the merits and values the frequent user of a branded service or product invests it with. Therefore, it is in some sense true to say that brands are really built, by the consumer in her own mind. Only then can the marketer step in to claim any equity-like value for brands. If the customer thinks the brand is no good, then a mere change in the name or externals can do little to alter the view.

All battle-scarred and hardened marketing and advertising persons know this. Even Coca cola is no exception as it learnt at great cost when it tried changing the formulation and named it the New Coke. It had to retrace in a hurry and revive the well-regarded old version as Coke Classic.

These thoughts came to mind seeing the report over the fierce debate in the legislature on the continuance of the name `University of Madras', and whether it ought to be known as Chennai University. It highlighted once again the need to reiterate the fundamental truths. If sustaining long running brand names in any activity or business is worthwhile at all, a University, surely, is a good case for it.

If there is one thing to recommend retaining an established brand name it is familiarity, custom, and usage, along with the associations and the reputation attached to the name. You don't tamper with it unless you have done something to destroy the reputation and want to re-launch the product under some other name! Indeed, in this respect all universities, and institutes such as the IITs and the IIMs merit a similar view.

For any brand in a competitive environment immediate recognition is the finest asset. For instant recall and with the right kind of flattering attributes, any brand owner would give his right arm for. We all know only too well how much students are respected elsewhere in the academic and professional world because of the place of origin of their degree. Recruiters and academics alike look for the ultimate strength of any brand — a reassurance of minimum standards and reducing the risk involved in the "buying decision", which are very the raison d'etre of any label or brand name.

To take it away because of a debatable reading of history as to which is the more authentic name for the citywould be certainly losing a strategic advantage for the state as a brand. Quite an unnecessary and avoidable embarrassment at a most inopportune moment for Tamil Nadu.

S. Ramachander

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