What I look up to 'Coke' and 'Pepsi' for?
There are many things we learn by experience. There are certainly a few I learnt from Coke and Pepsi.
When we first started NALAM, The Multi-specialty Software for Hospitals, in 2011, Many people suggested to name it 'Modern' by their standards. Names that would include terms such as Medical, Hospital, Doctor and so on. MediSoft, HospiSoft etc. We started with the name NALAM, a beautiful Tamil word that means 'Wellness' and never wanted to change to a different name.
When they kept suggesting new names, I asked them "Do you know the meaning of the name Coke?"
"How about Pepsi?"
"If people can get used to names like Coke and Pepsi, I think they will surely love to know the name NALAM. Someday when the world comes to know NALAM and when they look for the meaning, they will be happy that they know 'NALAM'" used to be my response to them.
Our belief is that the NAME might give an initial attraction. It is the quality of the product, effectiveness of the support, most importantly the satisfaction and trust of the customer that will make the name popular and keep it in their minds in the longer run.
The other thing I learnt from Coke and Pepsi is their 'long term' approach. Whenever they enter into a market, even though they don't make any profit, they tend to stay in the market for long.health
The main difference between them and us is, "They want their customers to be addicted to them!!"
"We want our customers to love us"