The most important business decision is the stage of creating a company name. Product or company name is its positioning, unique style, individuality, idea and brand history!
The first thing that catches your attention is the company name and logo. It should be simple and easy to remember, so that when at a moment person does not pay attention to the service, subconscious will remind him about you in the right moment.
Terms of service:
Market research should be conducted;
To study the strategy of competitors;
Foreign market should be considered;
Finding emotional parallels by brand's areas of activity;
Study of mythological parallels.
After naming and reviewing the selected titles, the title should answer the following questions:
Does the given name limit the scope of the company's activities?
Is the name simple, pronounced with one breath?
How do your potential customers evaluate the name?
Do other strangers understand its essence?
Is it visually effective, and easily perceptible?
Does it repeat the look of an already famous company?
Is there a free relevant Internet address (domain)?
Remember! You should not try to express everything by the company name, because it should create a general idea about the brand.
If your reaction will be a natural smile when you first hear the name, then stop, you found what you wanted.
There are several categories of names:
Functional names - a category of names that directly express the purpose of a product or service. This category is chosen by the vast majority of companies. However, you should know that such names belong to the weak category. (AOL, MSN).
Empirical names - a category of names that express the feeling or experience gained as a result of behavior related to a product or service. (Safari, Explorer, Navigator).
Metaphorical names - a category of names, which in their content are metaphorically, indirectly related to the existence of the product, brand. It conveys history, story, paints a picture and presents the essence of the brand to the public. Unlike functional names, it conveys brand positioning and not its functional purpose (Yahoo !, Opera).
Invented names - a category of names that have nothing to do with a particular product. In many cases, it is a fabricated word that has no separate meaning (Google, Mozilla).