P&G, Magnifi Brand Management Venture

Procter & Gamble Co. and Worldwide Magnifi on Monday said their venture to sell marketing and branding systems and expertise to other companies will be called Emmperative, and also said a major European electronics company is implementing the service.

The pact had been dubbed “project EMM,” for enterprise marketing management, when it was first announced on January 23.

At that time, Procter & Gamble said it will contribute its brand-building know-how, some staff members and an undisclosed amount of cash to the venture, while privately-owned Magnifi brings experience developing Internet-based marketing infrastructure.

“The new name will reflect our dedication to the emerging Enterprise Marketing Management space and the continued sense of urgency global marketers have when launching new brands in today’s competitive market,” Hunter Hastings, chief executive officer of the new company, said in a statement. Cincinnati-based Procter & Gamble and Los Gatos, Calif.-based Magnifi said a division of Dutch electronics company Royal Philips Electronics (NYSE:PHG – news) is its first European customer to implement the service.

Philips, which has already tried the service in its domestic appliance and personal care unit, estimates that Emmperative will cut the company’s overall marketing implementation costs by more than 50%. Philips said the savings will allow it to free capital for more research and product development investment, improve coordination of its marketing campaigns and let it get innovations to market with better results.