Brand Institute's Boston President on the Role of Market Research in the Development of Pharmaceutical Brand Names

MIAMI, Feb. 8, 2023 /PRNewswire/ -- Brand Institute, the global leader in pharmaceutical brand name development, offers a portfolio of services to bring a new brand name to market, including creative name development, trademark searches, linguistic analysis, and market research. Still, once a test name has proved to be both distinct and innocent of any negative connotations, what role does market research play exactly in the development of a new pharmaceutical brand name? Daina Quevedo, President of Brand Institute's Boston Office, provides insight.

"Market research serves as an excellent resource in determining which pharmaceutical brand names appeal most to your target audience," Dr. Quevedo says. "The data collected can tell us much about current naming trends in the relevant therapeutic space."

"Certain brands may resonate more with prescribers versus patients, for example. And findings like that can provide tremendous value when planning downstream commercialization activities. Balancing the regulatory and commercial requirements of a project can present challenges, but market research provides an objective assessment of the proposed names and their overall appeal. It is always recommended that you seek expert support to ensure sponsors are adhering to current guidance."

Since first joining Brand Institute in 2017, Dr. Quevedo has worked on hundreds of naming projects, including pharmaceutical and consumer brand names, nonproprietary (INN/USAN) names, corporate identities, and clinical trial names.

About Brand Institute and our wholly owned regulatory subsidiary, Drug Safety Institute

Brand Institute is the global leader in pharmaceutical and healthcare-related name development, with a portfolio of over 4,000 marketed healthcare brand names, 1,300 USAN/INN nonproprietary names for 1,200 clients. The company partners on over 75% of pharmaceutical brand and nonproprietary name approvals globally every year with healthcare manufacturers. Drug Safety Institute is composed of former naming regulatory officials from global government health agencies, including Food and Drug Administration (FDA), European Medicines Agency (EMA), Health Canada (HC), American Medical Association (AMA), and the World Health Organization (WHO). These regulatory experts co-authored the name review guidelines with their respective agencies, with many responsible for ultimately approving (or rejecting) brand name applications. Now working for a private company, these professionals provide Brand Institute's clients with industry-leading guidance pertaining to drug name safety (i.e., preventing medication errors), packaging, and labeling.

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SOURCE Brand Institute, Inc.