If you had “Mondelez” in the office pool for the new name of Kraft Foods’ global snacking company, you’re a winner!
As reported in an article in the New York Times, “the name is a combination of ‘monde,’ the Latin word for ‘world,’ and ‘delez,’ a made-up word meant to suggest ‘delicious.’ Hence, ‘delicious world.’” Good to know!
According to Kraft’s chief marketing officer, “It’s quite a job for a single word to capture everything about what we want the new global snacks company to stand for.” So…you went with a word that captures absolutely nothing about what your company stands for? Actually, you didn’t go with a word; you went with “Mondelez,” which requires an instruction manual to explain how it’s pronounced and what it means. She goes on, “I’m thrilled with the name Mondelez International. It’s interesting, unique and captures a big idea.” Well, you have to give her credit for hewing to the company line.
What I want to know is how much they paid for this name? Some people have speculated it might have been in the range of $50,000 to $100,000. If that’s true, then I’d say they overpaid by…oh… $50,000 to $100,000.
As any marketer worth her or his salt well knows, a brand name is one of a business’s most important assets. Most business managers inherit a brand name and have to make the best of it. But when you have the luxury of starting from scratch and creating your own brand name, there’s no excuse for going with one that’s hard to pronounce and has to have its meaning explained. In fact, I wouldn’t be surprised if the person selecting this name wasn’t a professional marketer.
Now that I think about it, I’d like to know the name of the agency that came up with “Mondelez.” Whatever it is, I’m guessing it’s hard to pronounce and completely devoid of any obvious meaning.
On the other hand, I named my company “14th Floor Solutions,” so what the hell do I know?