Change in Product Name
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My site - http://www.guru99.com/quick-test-professional-qtp-tutorial.html
Currently caters to an automation testing product from HP called Quick Test Professional popularly know and searched as QTP
Recently HP changed the product name from QTP to HP Functional Test.
Considering this , what do I do with exiting QTP pages and how do I optimize the site moving ahead...
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My recommendation would be to re-optimise the same page to a new product name (title/H1...etc) if the users expect that product name. If it's still an unknown term then ensure that you have the new name present on the site in form of a disclosure: e.g. This product is now officially called XYZ and that will ensure you're found for it. The only thing you're missing out on is phrase in URL. Potentially when consumers do the switch of terminology you could set up a new URL and 301 the old one to it.
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I think I would create a new page with the new product name but have the rest of the content exactly the same. I woudl then set a rel=canonical on the new page pointing to the old page. I would then wait until traffic for the new page out ranks that of the old page, and then eventually 301 redirect the old page to the new page.