The company name is the most important element of a brand personality and its visual distinction in the marketplace. The name provides a universal reference point through language and it is the one element of the brand personality that has to be got right and should never change thereafter.
Being competent or expert, reliable and forward thinking make up the building blocks of being credible in interpersonal communications. The brand name should therefore draw upon these attributes for credibility in communication. The brand name development process should therefore start with trying to convey:
- Expertise in the business you are in
- Value and uniqueness of offer benefit, worthy of trust
- Forward-thinking attributes
Then, through brainstorm (review dictionaries, industry and trade magazines, etc.) generate a list of up to 10 possible names. As a guide, the popularity of company name lengths, by number of words in its title, is:
- Two words 9%
- Three words 50%
- Four words 35%
- Five+ words 6%
Select the best 5 names, using criteria relevant to your business situation – marketing strategy, competitor names and strategies, pronunciation, language translation, etc. Complete a trademark search on those names, in your largest markets (geographies) and register those not already taken.
The best names are: meaningful, real and easy to: pronounce, recognise and remember. Company names should be flexible and bigger than the names of the products. They don't have to be as concrete as the product names.
A combination name can be arrived at by dividing the name up into three elements.
Table3. Generating Combination Name
|Who? (distinctive element)||What? (primary activity)||How? (type of organisation)|