Product and New Product Development

Product and New Product Development

How did Accenture transfer the brand equity from its original name, Andersen Consulting, to the new company name?

First, Accenture was able to do this by creating a new name for the company that communicated forward movement and positive change with adventure. The name had emotional properties associated with it, making the task of creating a framework for brand development and further brand equity possible. Once the new name was created, Accenture was very careful to provide a framework to support their five core businesses including consulting, alliances, venture capital, technology and outsourcing. This approach specifically allowed Accenture to retain its brand equity and actually increase its awareness.

Evaluate the Accenture brand name using any one or more of the six criteria (1. It should suggest something about the product's benefits & qualities 2. It should be easy to pronounce, recognize, and remember 3. The brand name should be distinctive 4. It should be extendable 5. The name should translate easily into foreign languages 5. It should be capable of registration and legal protection).

The Accenture brand is successful because it reflects the company's benefits and qualities, specifically the speed and magnitude of change the company is capable of providing as a professional services firm. The name also is exceptionally well suited to making change for clients more positive and forward-thinking, a critical part of any sales strategy for Accenture selling services.

Describe eGO's design process. How is it similar to the process detailed in the chapter?

The eGO design process is comparable to the concepts in the book in that it strives to create innovative solutions to long-established and well-known problems. The costs of transportation continue to escalate, and eGO concentrates on creating a solution for the challenge of short-range transactions with their products.

Visit eGO's website to learn more about products the company offers. What stage of the product life cycle is the eGO vehicle experiencing? What do you learn from eGo's product development experience?