Does a name matter? We think so!
Flat or apartment? You say flat and an old tower block springs to mind on a not so desirable estate. Say apartment and I’m envisaging waterfront and / or city centre luxury living. In essence its the same thing but what you call it can have a significant impact on the price somebody is willing to pay for it!
What product or service do you have that could be renamed and repositioned?
A good example is Macy’s department store in the US. Many decades ago they had a surplus stock of dressing gowns / terrycloth robes. They were very nice but they were not selling. Bernice Fitzgibbon decided that they were not robes anymore – they were blotters! The name that Europeans used for these garments, and the new adverts for blotters resulted in sales sky-rocketing.
Same product. Or was it?
Sometimes, it’s all about how you say it!