Change product name shown in the Control panel

Hello,

I have Basic msi project and would like to change the product name shown in the control panel and GUID by using command line parameters.
I found in the documentation that windows installer supports following command line option

msiexec /i A:\Example.msi PROPERTY=VALUE

Hence I tried the following for product name

msiexec /i A:\Example.msi ProductName="my_new_name"

but "my_new_name" is not shown in the Control panel.

Could you please advise how I can vary name shown in the control panel if use the same .msi file?
Thank you in advance.

Best regards, Georgiy