Selecting a brand name for a new product is certainly an art and a science. An art and a science have the prerequisite of memorability, meaningfulness, likability, transferability, adaptability, and protectability in the minds of consumers to recall brand names.
A good brand name is a focal point for all other brand activity to build brand equity and retaining brand equity in the face of constraints and opportunities. For all companies brand name should be a primarily vital initiative because it is the thing to capture and flourish brand’s world imagination and help to create brand infinity.
A brand name is the shorthand means of brand communication to consumers, which has a tenacity to permanent imprint into the consumers’ memory lane. A brand name is to stay in the mind of consumers and it can be consumers’ best-remembered brand element as other like URLs, logos, symbols, characters, spokespeople, slogans, jingles, packages, and signage tend to change with cultural change, but the brand name is eternal.
A brand name is also the most dominant of all another brand element. Among brand strategist, it is widely accepted fact coining brand name required utmost consideration to make it easy but fun to pronounce, remember, central to all brand positioning, creative excellence, transferability to other following brands and desired infiniteness, never get archaic and not easy to counterfeit. But it is the Herculean task to coin brand name with all these standards. The biggest obstacle is to readjust brand names to unknown cultures and territories with indigenous pronunciations and meanings.
Choosing brand name is also becoming a very difficult brand element as Ira Bachrach, a well-known branding consultant, has noted that although there are 140, 000 words in the English vocabulary, the average English speaking adult recognizes only 20, 000; Bachrach’s consulting company, NameLab, sticks to the 7, 000 words that make up the vocabulary of most TV programs and commercials.
Although a difficult task but not impossible. In fact, the most creative task in the brand building if one can follow and ‘mix and match’ already existed procedures.
First of all, understand the point of parity to create the point of difference, keeping in mind the concept of memorability, meaningfulness, likability, transferability, adaptability, and protectability. The name should be creatively simple and easily pronounceable, ease to spell and meaningful familiarity. It can be surname like Mitchell’s, descriptive like Pakistan International Airlines, invented Kodak, connotative, bridge or can be arbitrary like Apple or Yahoo.