Talk About Naming & Branding….

Two of my colleagues in the office are expecting babies that will be born in the Year of the Ox under the Chinese Calendar. These babies are very special to them as one is expecting his first and the other her first baby boy in the family. Occasionally, I will ask them if they’ve found the name suitable for their babies.

Muslims and Chinese alike put much thought, effort and research into naming their children. The charm behind this is the belief that a name contributes to a child's character and destiny. They want a name that has significant meaning and most important of all – to be different from others.

Thus, let us set our mind thinking if a company was poorly named, not only it sounds bad, but it will confuse potential customers and limit its growth and opportunities.

Some of the bad names I had stumbled upon :-

Email addresses and names of companies :

1. tambahaja@…. (meaning `add-on only...??’).

2. badlycheapstuff@..... (this company sells cosmetics and lingerie..).

3. Studhub (An ear-piercing service shop that also sells earrings for unisex. Are

they duplicating Starhub the telco service provider?)

4. Nazi-Rule Pte Ltd (The Nazis ruling the world? I found out it derives from his

ethnic name Nazirul. He should be careful when

playing with an available and present word).

Small businesses can spend thousands of dollars bringing a product to market, only to lose it all by selecting the wrong name. Avoid the temptation to go for the obvious joke. A small business owner does not have to take every element of his or her enterprise so seriously, but the end product or service needs to imply credibility. Customers want to know they're receiving professional service or the product is well-made.

The Best Company Names :

Amazon.com

The name positions the company as a source of abundance and diversity.

Starbucks Coffee

Eli Altman, a brand strategist at A Hundred Monkeys, a naming firm in Mill Valley, California quoted as saying that 90% of the people who walk into a Starbucks have no idea what it means, but it’s just sort of a cool combination of sounds. The story behind it was – Starbuck was Captain Ahab’s first mate in Moby Dick and he was obsessed with coffee.

Second Charm (local enterprise in S’pore)

Selling old antiques and second-hand furnitures.

A good name gives the consumer enough information to make a purchasing decision.

You may wish to consider the following process to name your product, company or come out with slogans :

Brainstorm a list of potential names. No matter how silly or inappropriate the suggestion might sound, contributors should be allowed to freely throw out ideas. Once a list of potential names has been collected, narrow it down to perhaps 5 or 10 viable suggestions. In this way, you will be discounting the bad ones.

Troubles with bad product or business names usually begin when an owner or senior partner refuses to discuss his or her ideas with others. Advertising and marketing people need to have some input into the naming process, because they are qualified to identify potentially bad names or slogans.

Form a focus group, or hire outside advisors. There are companies which offer focus groups or surveys concerning potential brand names. A small business owner may be able to assemble an informal focus group as well. It's important to discover how a potential product or service name is received by the group most likely to become customers. A bad name may generate observations such as 'too expensive' or 'pretentious'. A good name might be 'inviting' or 'powerful'. Discovering a bad name too late in the process can be a very expensive mistake.

You may wish to choose names from your ethnic roots. Instead of selecting English names which could have bad connotations, consider inventing a name from your roots e.g. a Malay Cultural Heritage Restaurant named Tepak Sireh at Sultan Gate, Singapore.

When considering a name for a new product, a business owner may look to products already in the market which imply similar characteristics. The names can't be so similar that they create confusion, but they can use the same roots.

When in doubt, look inward. Companies rarely go wrong by using their own names for products or services. Using parts of surnames or names of relatives can yield a very usable business title. There's also nothing wrong with promoting 'Suhaimi Salleh Management Consultant’ or 'Mona J Boutique'. Instead of borrowing names from established companies. There can be no better way to honor a relative or mentor than to include his or her name in your own business venture.

Outlook on The Year of the Ox 2009 :

Chinese New Year 4706 or 2009 in the Western calendar is the Year of the Female Brown Earth Ox — sometimes called the cow or water buffalo.
Your horoscope for 2009, the year of the ox, depends on which animal signifies the year you were born.

Babies Born In The Year of the Ox

Babies born under this sign are said to be intelligent and hard working. Although they tend not to be easily sociable, their honesty and eloquence makes the Ox a born leader. The earth influence strengthens the ox's earth nature for those born in this year making them especially gifted planners and serious about doing the work to bring their plans to completion.

The ox is steady and disciplined and not a friend of quick changes. When faced with obstacles that cannot be overcome by planning, hard work or analysis — the ox can be an angry life partner or business associate who does not easily forgive.
Steady intelligence, the ability to see what is important and the discipline to work until the goal is met are traits that bring success in both business and personal affairs. Those that follow the ox walk an easier road.

Famous People Born in The Year of the Ox

Charlie Chaplin, George Clooney, Bill Cosby, Walt Disney, Jane Fonda, Clark Gable, Richard Gere, Whoopi Goldberg, Adolph Hitler, Dustin Hoffman, Rock Hudson, Saddam Hussien, Keira Knightley, Kate Moss, Eddie Murphy, Paul Newman, Jack Nicholson, Richard Nixon, Barack Obama, Princess Diana, Robert Redford, Bruce Springsteen, Meryl Streep, Margaret Thatcher, are some of the well known people who were born in the Year of the Ox.


General Outlook

The year of the Ox is associated with domestic trouble that seems to have no solution. The grounded, rational, earth influence of the Ox may bring good fortune to troubled economic times but only with a sustained, well planned effort. The Ox influence brings an aversion to risky credit and quick answers that are not well conceived. The Ox year brings success only through discipline and through hard work. The steady ox is quick to anger when confronted by what seems to be irrational opposition, but the use of reason works well and avoids a charge by the angry bull. There is much danger of war and unrest if diplomacy does not prevail.

The last time the earth Ox was seen as the ruling influence was January 29, 1949 - February 15, 1950. The world suffered a recession in late 1948 and early 1949. The world economy recovered during the year of the ox due to rational decisions and careful planning. By 1951, the recession was over.

Many will be searching for a quick solution to the current economic crisis, but the ox favors a well planned, consistent path that will take more time but lay a foundation for long lasting results. The strong earth influence of this year favors a strengthening of the housing market, but risk takers will not find this year favorable. Those who look for long term benefits, have a well thought out plan and are willing to work to see results will find great success.

Baby boomers who were born the last time the brown earth Ox ruled the zodiac celebrate their 60th birthday this year. Those who are influenced by the Ox will have experienced many years of good fortune if the planning, hard work and discipline of the sign were heeded. Those who failed to plan are given a new opportunity this year. If the lessons of the past are integrated, the future brings harmony and good fortune at home and in business.

http://www.chiff.com/a/chinese-horoscopes.htm

Innovation Brings Success, Believe Me..

In today’s competitive economy, the ability to think different, to be creative and in relation to the subject matter – to be innovative can determine the success or growth of a business, a region or a country. Ranking on the top for strategies of success is innovation and I know it is the biggest challenge exclusively within the business.

Businesses and universities in our region have come together for ‘knowledge transfer’—working together to solve technological & commercial challenges for mutual profit & success.

Citing examples of Fong Yit Kaya and Cacao Gourmet & Premiums.

Fong Yit Kaya engages Singapore Polytechnic(SP) students to develop a healthier version of kaya, the traditional coconut and egg spread. Students from the Diploma in Chemical Process Technology, Food Technology option, had created an authentic kaya with about 25% less sugar, fat and cholesterol yet retaining the familiar rich taste. It was awarded the Healthier Choice label by the Singapore Health Promotion Board and are available on supermarket shelves.

Cacao Gourmet & Premiums embarks on a new venture to manufacture and market inulin-infused chocolates developed by Singapore Polytechnic. Inulin is a plant fibre that helps promote the growth of good bacteria in the intestines and improve digestion. The company received halal certification from Majlis Ugama Islam Singapura (MUIS) which enables it to tap the vast affluent Muslim consumer markets in the region, Middle-East and beyond.

- www.sp.edu.sg

SPRING Singapore’s Technology Enterprise Commercialisation Scheme (TECS) can provide the vital support and resources for start-ups and SMEs in need of help to convert innovative ideas into promising businesses. TECS will assist in the early gap of funding throughout the various development stages, prototyping, securing third party funding and enabling the enterprise to achieve growing revenues.

TECS is a competitive grant in which proposals are ranked based on the evaluation of a team of reviewers. Under Proof-of-Concept (POC) upon which successful submission of applicant’s proprietary technology ideas - support of up to 100% of *qualifying costs for each project will be funded, up to maximum of S$250,000.

Under Proof-of-Value (POV) upon which successful applicant who is keen to carry out further R&D on a technology project, including the development of a working prototype, support of up to 85% of *qualifying costs for each project will be funded, up to maximum of S$500,000..

*Qualifying costs include: Manpower-related costs, Professional Services, Equipment/ Software, Intellectual Property Rights, Materials & Consumables and Other Operating Expenditure.

The applicant will then present his proposal to the Technical panel, which comprises of representatives from successful entrepreneurs with relevant business and technical experience, business angels, venture capitalists and industry executives. The panel’s evaluation will focus on the commercial merit and the competency of the applicant to carry out the project before investment from a third party is awarded.

SPRING Singapore also provide easy access of ready resources at its Centre of Innovation. The following one-stop centres offer technology consultancy and advice, develop the practical platforms that businesses can quickly adopt and it also help to test and develop technology projects.

Food Innovation Resource Centre at Singapore Polytechnic

Areas of focus: food safety and hygiene, food processing to improve existing product lines, development of new products, and packaging and shelf life evaluation

Marine & Offshore Technology Centre of Excellence at Ngee Ann Polytechnic

Areas of focus: design and analysis of marine inspection and testing equipment, and offshore construction and processing equipment

Environment and Water Technology Centre at Ngee Ann Polytechnic

Areas of focus: water and wastewater treatment and remediation, alternative energy and energy management, monitoring and instrumentation control, and air pollution control

Precision Engineering Centre of Innovation at SIMTech

Areas of focus: ultra-precision machining, forming, thin film coating, RFID and intelligent manufacturing systems, mould design and simulation, and automotive, aerospace and medical technologies

Spa & Wellness Beauty Services

Today I met 2 clients of mine in the above services. It's a service in demand in relation to the ageing population and the impact of the world economic crisis which escalates everyone's stress level to the extreme. It is an attractive industry for tourism promotion. As people who travel look for relaxation, rejuvenation and many more Rrrs.... expectations to be met with - head to toe care services and aroma therapeutic ambience. However, competition is also stiff in this industry...to stay competitive it will be good for our local spa & wellness industries to be reviewed, accredited with ratings with other S'pore tourism attractions.

Ratings of the Stars To Success

After each session at the spa, encourage the customer to evaluate her experience using the star system.

5 Stars represent the most heavenly experience that they ever had in their life.

4 Stars a WOW experience.

3 Stars a good experience.

2 stars a so-so experience

1 star "can I have my money back? So that I can proceed to another spa?"

By this evaluation method, the owner will be able to see how well the service has been provided.

The collective experience of all the customers can be put together and shown on the website and in this way let the customer know how good the experience is.

In another scenario, customers may tighten their purses for the big ticket items but they treat themselves for life little pleasures. This will be the time for spa owners to realign their business and customer service..

• Target your customers with an appealing package. Do your customers need your service or do they want it?
  
• Are the expectations and satisfaction of the customers met with the fee invested?
  
• Once it has been determined, evaluate your business to see the extent of the needs that
  have been met with. Any similarities wil result in you scoring the points and receiving
  revisits from faithful customers.
  
• This suggested approach has been widely ignored by SMEs as they are too focus on selling the products and services that they have forgotten to spend time on the essence of acquiring the techniques of understanding the needs of their customers.