Dealing with business names is discussed in Al and Laura Ries book, The Fall of Advertising, where they argue that nothing in the marketplace can succeed unless the name is right.
No matter how great the product is, if the name is all wrong there is no way the product will succeed. What is a right name and what is a wrong name? Names cannot be considered on their own but in relation to their category.
An example used by the authors is Gablinger’s beer that had an award winning TV commercial but soon fizzled. It fizzled out because people thought it didn’t taste good but the one thing Gablinger didn’t understand is that any beer with that name wouldn’t taste good in the minds of the consumers.
If you are in a funny category like popcorn your name should be fun or suggestive of a fun thing meaning your brand should suggest what your category is.
An example of a great name is Red Bull whose name connotes the drinks attributed of energy and strong feelings.
Working as a small business consultant and many new ventures seek us out for marketing advice and work, many of the times we are also asked to help with creating the business name. Every time we do this many factors are involved but primarily the business category and a name that help suggest what the business stands for is always at the forefront.
If you require small business marketing consulting with your new ventures business name or any other marketing assistance contact us today.