Create a winning brand name. The right brand name captures the imagination.
A precise brand name should be timeless, easy to say, and learn. Its sound has rhythm, which facilitates brand extension. It sounds good when pronounced, or when written in an email, or when it gets printed in any branding material. A well-chosen name is a brand asset.
Brand names get conveyed in day-to-day conversations, emails, voice mails, websites & products. A brand requires a creative, discipline & strategic naming approach. Finding the right legal name is a challenge as it can be subject to unnecessary legal risks for a company. The wrong name for a company or a product can hinder marketing efforts through miscommunication or because people can't pronounce or remember it.
Various decisive techniques must utilize the effectiveness of a name to ensure that connotations are positive in the market served.
Qualities of an effective brand name:
Brand names should be meaningful enough. It carries the essence of the brand to support the image that the company wants to convey.
It is unique, as well as easy to remember, pronounce, and spell. It differentiates from the competition.
It positions the company for growth, change, and success. It is sustainable and preserves possibilities.
It enables a company to build brand extensions with ease.
It has a positive connotation in the market served & it must not be associated with negative connotations.
It lends itself well to visual identity presentation and brand architecture.
Types of brand names:
Many companies named after founders like Ralph Lauren might be easier to protect.
Brand names that describe the nature of the business, like Toys 'R' Us. The benefits of descriptive naming are that it communicates in clarity the commodities of the company.
Brand names like Haagen Dazs, Kodak, and Xerox are distinctive and may be quick to copyright. But it requires a high level of investment to educate & communicate the name to the target audience.
In this type of naming, things, places, people, mythological names, or foreign words are used to allude to a quality of a company, such as Nike's brand name.
These names are difficult to remember & to copyright. Like IBM & GE, they become well known only after companies have established themselves with a complete spelling of their names.