Say you’re releasing a new version of the iconic Australian snack, a Vegemite-cream cheese blend, and you need a name. You want it to be fun, appeal to young consumers, and yet still pay homage to the original, beloved yeast-based spread that everyone knows and loves. What do you do?

Well, if you’re Kraft Foods, you look to crowd-sourcing and run a naming contest. Sounds innovative and resourceful, right? Could be.

In what has subsequently been called the lamest name ever, iSnack 2.0 somehow won out over 48,000 entries. Submitted by a Perth IT designer, the name was presumably chosen by Kraft in an effort to appeal to the hip, tech-savvy iPod generation.

Just five days later, after being called “disastrous,” and an “epic fail,” Kraft has dropped the controversial name. And once again, Kraft is looking to the public for a new, more suitable option.

Some have called the debacle a marketing failure of New Coke proportions, and indeed the fury over iSnack has provided endless fodder for bloggers and brand analysts alike. Which begs the question: is any publicity good publicity? Perhaps this remains to be seen, but the public has spoken loud and clear.

Hey Kraft: can’t you hear, can’t you hear the thunder? You better run, you better take cover.