Our latest Battle of the Brands video pits two great brands that do the great work of lowering prescription drug prices against each other.
Battle of the Brands: GoodRx vs. Cost Plus
They’re both winners overall, but only one comes out on top of the naming game. Check it out to see if you agree with Rebeca on which one that is.
This video originally appeared in LinkedIn.
If you enjoyed this video, check out:
Battle of the Brands: Moderna vs. Pfizer
Battle of The Brands: Graeter’s vs. Jeni’s Splendid
Does This Name Suck? Absolutely YES!
TRANSCRIPT:
Hey, guys, it’s Rebeca with BrandTrue, and today I want to do another Battle of the Brands because you love them. I love them. They’re fun! This time we’re going to pit GoodRx against Cost Plus. They’re both companies that are setting out to make expensive drug prices more manageable for consumers. So they have slightly different business models, but the exact same intent. However, the name is really good in one case, GoodRx, and kind of sucks in the case of Cost Plus, and so let me put them head to head to show you.
In terms of our first factor that we like to look at, T, is it a Transparent communication? This is interesting, Cost Plus is a transparent communication of how they set it up. They take the cost to the company of the drug and then they put a plus, a 15%, I think, markup that keeps the prices low instead of a more exorbitant markup. The problem is it’s not a transparent communication in the way people receive it, because Cost Plus sounds pricey when actually it’s the opposite. So logically, they’re yes. But no, they don’t get it, whereas GoodRx is disclosing less, so it’s less transparent. But guess what? You understand that it’s to your benefit. So again, in terms of impact, it’s more transparent. That’s like… mindblower!
Okay, R, in terms of Really authentic emotion or connection to story, it’s actually Good Rx again because of the impact, because it’s positive and because it’s telling you that they’re gonna do things that better are good for you versus Cost Plus is just kind of clinical, not good.
Uniqueness, they really kind of both get on uniqueness, but again, with GoodRx being a little bit more emotional and standing out versus Cost Plus sounds, maybe not like a pharma company, but kind of like a million other companies, it becomes less unique.
And finally Engaging, you know what I’m gonna say! Cost Plus: clinical, not emotional, misleading, and not particularly easy to grab onto, not particularly memorable, whereas GoodRx, it’s not punny or fun to say or rhymey or any of those things, but still, you sort of can see what a GoodRx is. Because of the emotional content, it IS more memorable so it IS more engaging.
That’s what I think. Let me know what you think. I always love to hear. Thanks. Bye!
