One of the most complex tasks in the definition of a new product is to decide how to name it. A good product or service with a lousy name could go straight to failure. The opposite also works.
In order to name a product or service a number of factors should be taken into consideration, not only from the marketing standpoint, but also the possibility for an effective protection of your brand through the registration thereof.
As a definition, the primary function of a brand name is to differentiate it from its competitors making it fully recognizable and unique to consumers.
That is why it is also called "Distinctive Sign" since it must distinguish it when compared to other similar products or services.
For example, if the name is generic or descriptive of the product as "Long Pasta" or contains terms like "Plus" or "Light", the brand will not differ from others in the market or will not be granted by the Trademark Office and, therefore, you will never be able to capitalize it in your marketing strategy.
What we mean by this? Well, to think of the name of your brand, this would not have to, nor should describe the product. Worst yet. It will never be yours.
So you could use the generic name, but anyone can copy it and use it and you can do nothing against that.
The 5 factors to consider for naming a brand are:
1. Originality. Do not copy or version another name. Even better, make it newfangled and fun.
2. Distinctiveness. The brand should make you unique, not one of the bunch. Do not describe the product.
3. Remembrance. Easy to remember and appoint or read in any language. A complicated name will make your brand be called in many ways.
4. Length. A short word is almost always sticky.
5. Correct. Do not offend in any language, or have racist, religious, sexist or political connotations.
As a good example of good and bad names, perhaps one of the best of all time is part of our daily lives.
Apple, a word in English used to describe a fruit, as a trademark defines a product that does not grow on trees, is not edible, is not round, neither red nor green, not bought in supermarkets and, still less, is stored in the fridge.
One of the most recognized brands in the world of technology today has the name of a fruit!. There are different versions about why Steve Jobs choosed that name, but what is certain is that it describes the product at all. Interestingly, the Apple brand today is valued at US$ 118,863,000. Source: http://bestglobalbrands.com/2014/ranking/ in Interbrand.com
Now that you know this, sit down, get inspired, write 5 or 10 possible names and start working on them. Turn the words, insert or duplicate letters, cut the word in two, play with them and put a lot of fantasy and imagination. Investigate about your product. It helps. Now, we would love to hear from you in the comments below.
What do you usually do to choose the name of your brand?
Or, if you went through this experience and have a story or lesson to share, please do so in our comments. Give as much detail as possible because many people come here every week for a dose of inspiration and support.
Set yourself apart!