I don’t want to be cryptic about it. This name most definitely sucks. It sucks quite a bit.
Does This Name Suck? COST PLUS
The brand behind it is an incredible idea and I would love to support them in any way I can. But oh, that name! Check out this #tellthetruths video to get the whole story. Then let us know what you think.
This video originally appeared in LinkedIn
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WHAT WERE THEY THINKING: Anthem’s Name Change
TRANSCRIPT:
Hey, guys. Rebeca here with BrandTrue. And I want do another Does This Name Suck? Today, I want to do Mark Cuban’s Cost Plus. So Mark Cuban, the very famous entrepreneur, has done something really wonderful, which is he started a pharmaceutical company because of the high cost of drugs and how much it impacts many Americans’ ability to receive proper care. And so he is able to offer drugs at dramatically reduced prices.
For example, there’s a cancer drug called Gleevec that the cost goes from over $2,500 to $12. $12. So how do they do it? They take the cost to them, and then obviously they have to be generic drugs too, but they take the cost to them and then they just add in the plus of the pharmacy labor, the shipping costs. They’re not trying to mark it up for astronomical profit. So that’s great. Here’s the problem. This name, it sucks.
So let me take you through the framework, see if you agree with me. The first thing is… is it Transparent? They would say it is transparent because the way they price it is cost plus, in a fixed way. But I would say it’s not transparent at all because Cost Plus makes it sound like it’s expensive, plus more expensive. It’s exactly the opposite of what they have on offer. So transparency isn’t defined by your intent. Transparency is defined by do people get it. And I don’t think you get it at all from that name. Not a clear communication. That’s the kiss of death already. But if we keep going, the Really reals. Is it authentically tied to the brand story? Actually it is. But I don’t think anyone knows. So I don’t think it’s good enough. Is it Unique? Yes. When you think about pharmaceutical company names, it’s definitely unique. Is it Engaging? No, it sounds horrible. So the intentions are good. The brand is great. As soon as I heard about it, I called my mother to say, “Any prescriptions you can move.” But as much as it’s a great idea, I wish they had gotten help with the name. Let me know what you think. Thanks. Bye!
