Creating a Great Brand Name

Importance of Brand Names

• Estimated 300 million companies worldwide
• Challenges in finding unique, memorable names
• Importance of standing out

Three Steps to Creating a Great Brand Name

1. Select the Type of Name

   • Eponymous Names
     • Based on founder's name (e.g., Disney, Burberry)
     • Examples: Adidas (Adi Dassler), Tesla (homage to Nikola Tesla)
   • Descriptive Names
     • Describe what the company does (e.g., American Airlines, Home Depot)
     • Harder to own and protect
   • Acronyms
     • Abbreviated names (e.g., GE, BP, KFC, HSBC)
   • Real Words
     • Existing words with attributed meaning (e.g., Uber, Slack)
     • Hard to find unique existing words
   • Composite Names
     • Combination of two words (e.g., Facebook, Ray-Ban)
   • Invented Names
     • New, unique names created through letter changes (e.g., Kleenex, Pinterest)
   • Associative Names
     • Reflect imagery or meaning (e.g., Amazon, Sirius, Red Bull)
   • Non-English Derived Names
     • Names from other languages (e.g., Samsung, Lego, Zappos, Hulu)
   • Abstract Names
     • No intrinsic meaning, rely on phonetics (e.g., Rolex, Kodak)

2. Determine What the Name Should Convey

   • Go beyond descriptions
   • Focus on big ideas and emotional appeal
   • Examples: Nike (winning), GoPro (heroism), Apple (simplicity), Google (massive data organization)

3. Check Availability

   • Ensure the name isn't taken
   • Verify the name has no negative connotations in other languages/countries

Case Study: Alphabet (Google's Parent Company)

• Meaning and Symbolism
  • Alphabet represents the set of letters forming the basis of language and communication
  • Playful link to sub-companies (e.g., G for Google, C for Calico)
  • Appeals to investors ("alpha bet")
  • Real dictionary word, hence unique
• Practical Issues
  • BMW owned alphabet.com
  • Chose a unique web address: abc.xyz