What’s in a brand name? This may seem like a simple question, but an expert on custom merchandise cites that names are important to brands who want to use these on their products and promotional items. A name can make or break a company as it creates association, and carries emotional and experiential triggers. When you know the different types of brand names available to you, you can choose the right one and build on it.
This category is the oldest type and has been in use for decades; this is effective because it describes your business the moment a potential customer reads it. Some examples include PayPal a payment company and Subway serves unique and delicious submarine sandwiches, clearly show what they offer with the names of their brand. This approach differentiates and positions your company in the niche you choose. It is easier for potential and current customers to recognise you.
However, this type may also work against you, because it constrains and keeps your brand in a box. Your brand name may no longer hold meaning to your existing services or products because your company evolved since its inception.
Many brands abbreviate their company name but remain recognisable to their customers some examples include IBM, GE, HP and UPS. Companies take this route because of practicality, their names are too long, or evolution over the years. Acronyms are easy to say, remember and trademark; however, they are empty vessels that need time to fill. This takes a lot of time and effort to build a brand and improve recall and recognition.
Some brands successfully made up words and made it their own these include Google, Twitter, Kodak and Xerox. The creators created a word to represent their company; an invented word is influential as they don’t carry any meaning, you can create one for it.
These three types have their pros and cons; know which one may work for your start-up and use it to your advantage.