But what if your company cannot afford to conduct research, or the time requirements of a research study are untenable due to scheduling restraints? Is all lost?
No, of course not. Research data can provide insight into your target market's brand perceptions and provide statistical projections about their responses to various solutions. But it cannot replace your own deep understanding of your company's capabilities and potential, your specific marketplace opportunities, your strategic intent, the competitive playing field, the "next big thing," or, finally, what the right solution actually is for your brand.
A new name is an opportunity, and, in marketing as in all areas of life, an opportunity can be seized and realized without the benefit of research. Ultimately, your unique knowledge of your situation -- coupled with your intuition -- is the best guide for selecting a new name or any other essential branding tool.
(Metaphor would like to thank Dan Rubin of The B/R/S Group for his contribution to this discussion. )
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