Company names, and brand names, need to reflect the organization’s character, mission, and direction. The example above shows how bad naming can effect a company’s audience. Would you book a seat on an airline with a name like “Fireball” – and with a logo that depicts a fiery meteor speeding toward the ground? I think not!
In addition, many companies start out in one direction, and change direction as their mission, and products change: International Business Machines became IBM, General Electric became GE, and so forth. I’m sure that you can site many examples of this for large, mid-size, and small companies. It may be a little easier for large corporations to change direction, because they have both the expertise, and funding to get the word out to the general public – and to their target, and niche markets. But, companies usually do not start out as giant corporations. Most companies start out small – with big ideas. So, naming a new company might seem easy, but if one intends for the company to grow then there are a number of things that one should consider.
- The name should explain (as best as possible) what the company does.
- The name should be easy to pronounce, and spell – particularly today when so many searches are dependent on web-based search engines.
- The name should not (except in rare cases) use a letter like “K” to replace a “Q”, or a “Ph” combination to replace an “F”: for example Kuality or Phirst.
- The name should not be an obscure reference – that the majority of your market won’t understand.
- Use a name that makes it is EASY for your target market to recognize.
- Only use regional names (or references) if you intend to market only to, and within, that region.
Remember the more difficult the name – the more money, time, and effort it will cost you to get the attention of your target audience.