Name Change Calls for PR's Input Even More
The renaissance of branding as a leading concern for marcom experts is underscored by a recent finding that 80 percent of companies have created a new name during the last two years.
The Rivkin & Associates Inc. (R&A), Glen Rock, N.J., study of marketing and communications execs at 400 U.S. firms said that the name creations were primarily for a product, service, company or division.
But the probe also indicates that a new name "has to hit the trifecta - it has to be distinct and memorable and meaningful because a lazy name is the kiss of death."
PR pros can help direct this process in several ways:
- Appointing internal task forces to generate new names;
- Spearheading contests among employees; or
- Helping hire a naming consultant.
But it's also essential to test the name on some trial audiences before its set in stone. (R&A, 201/670-1370)
Women Execs Face Tougher Road In Raising Capital
Female PR execs considering the prospect of opening their own businesses should heed a just-released survey that found that women business owners of color are more likely to face greater barriers in access to capital than other execs.
The survey was conducted by the National Foundation for Women Business Owners, Washington, D.C., and underwritten by AT&T [T] with backing from IBM [IBM].
Called the first comparison of women business owners of all races, it stresses that one in eight of the nearly 8 million women-owned businesses in the United States is owned by a woman of color. There are more than 1 million women-owned enterprises nationwide.
Before you embark on such a course, establish a dialogue with women of color who have recently gone out on their own and find out what routes they used to raise capital.
Other facts about women business owners include:
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The Asian Crisis Will Be a Memory in 5 Years, According to Polled Execs
U.S. companies and execs, who are basking in the glow of the U.S. bull stock market, have paid close attention to the Asian economic crisis because of foreign interests and globalization.
But 92 percent of 150 American execs believe the crisis will end within the next five years, according to market research house Wirthlin Worldwide, McLean, Va.
Those queried also assert that Japan (44 percent) and Hong Kong (23 percent) are likely to emerge the quickest from the crisis.
American business leaders, however, show less confidence in the South Korean government: only 14 percent believe it will recover the quickest from the economic slump.
Additionally, only 11 percent believe that South Korea has best dealt with its financial and stock market crisis - which is perhaps why it has looked to PR powerhouse Burson-Marsteller, New York, for an image overhaul. (Wirthlin, 703/556-0001)