Justification for the study
One of the firm’s most important marketing decisions is choosing a product name. While previous studies have examined criteria for selecting individual brand names, naming decisions that involve multiple product generations have received little attention. There's a lot of research about new-product branding, but as best as we could tell, nobody had looked closely at the issue of how to brand a successive generation. (Gourville, 2007) Consumers don't necessarily read specs to learn about new features, but they'll always notice a new name. We thought we could come in and bring some guidelines and normative implications that were well grounded in academic research. (Ofek, 2007) Thus, we want to examine the effect a firm’s product naming strategy has on consumer perceptions and adoption of next-generation products innovation. Hence, we can figure out what is the best way for the companies in branding the next-generation. *** Companies often take one of two tactics in naming a next-generation product; they choose either the sequential naming approach (Sony's successive PlayStation, PlayStation 2, and PlayStation 3, for example) or the complete name change approach (Nintendo's Nintendo 64, GameCube, Wii).
Statement of the Research Questions and Problems
What category does “next-generation” product creates?
What are the risks and rewards of the companies when branding a product upgrade? How does consumer perceived the naming strategy of firm’s next generation products? Hypothesis:
There is a significant
Intended Locale and Population Sampling
Non Probability-Purposive Sampling specifically Judgement Sampling Probability- Restricted Probability Sampling specifically
Statements of the Research Objectives
To be able to know what category does a “next-generation” product creates. To be able to know what risks and rewards are the companies will have in branding a product upgrade. To be...