Re: UKNM: Wacky names

[Sean Phelan]

It is also easier to spin off or separately float an online subsidiary if it

has been developed as a separate and distinct brand, cf. FreeServe.


Of course, developing a national consumer brand name costs an absolute

fortune,

beyond whatever it costs to actually build the real business.  And nobody

really knows what the long-term value of online brands will be: there are

some very coherent arguments around, ranging from "branding is Everything

online - cf. Yahoo" to the "frictionless capitalism, intensive price

competition" view.


I think the only useful concensus is that being first to build a brand in

a particular sector is much, much cheaper than being second or third.


Cheers

Sean



>Mornin' all...

>

>Listening to BBC Radio 5 'Live' the other day, they had one of their

>business pundits chatting about the (now delayed) launch of the Halifax's

>IF (Intelligent Finance) new online bank...i.e. their version of Egg.

>

>The pundit made a couple of interesting points, which it would be

>interesting to get your opinions on:

>

>1. these 'wacky' names will quickly go out of fashion

>2. it's a lot easier and cheaper for banks to create a new 'wacky' image

>and launch it without having to change the image of their existing brand

>3. if it all goes pear-shaped, it's a lot easier to dump the new 'wacky'

>brand

>

>Me? I'm with First Direct, which isn't exactly wacky, but it is an

>off-shoot of a major banking group. Are the banks doing the right thing? It

>struck me, that post-Egg it's too late to jump on the bandwagon...can you

>remember the difference between Cahoot, IF and the scores of others, which

>will no doubt follow?

>

>Toodle Pip

>

>Sam

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>

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