How to come up with a business name 2

Phronesis

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Brand Name Ideas & Examples

Founder Brand Name

This is where the brand is named after the founder and there are a couple of very famous examples here in both McDonald’s and Ford McDonald’s named by the McDonald’s brother and Ford named by Henry Ford.

Descriptive Brand Name

This is where the brand name describes what the company does. An example here would be the Coffee Club or ToysRus.

Aligned Brand Name

This is where the brand name uses associations or metaphors to align with an idea. I’ll give you an example here, Amazon aligns with the vastness of the Amazon jungle and Virgin aligns with that idea of new and innovative.

Invented Brand Name

The invented brand name has no real meaning or association. Essentially, it’s a figment of somebody’s imagination and the word doesn’t exist. A couple of examples here would be Google or Pixar or Xerox.

Lexical Brand Names

These are where related words are combined to enhance memorability. You might have two words with the same first letter. An example of this would be Dunkin’ Donuts or Krispy Kreme.

Acronym Brand Name

To be honest I’m not a big fan of this brand name type and it’s not something that I would recommend any of my clients do but that’s not to say that it can’t work. There are some very famous examples of acronym brand names such as BMW, MTV, IBM, etc.

Geographical Brand Name

Essentially, these brands are aligning themselves to a flag or an origin from where they’ve come and that usually comes with a certain type of reputation. An example would be Singapore Airlines or Swiss Brand.

How do You Choose a Brand Name

I’m going to give you a six-step process that you can use to choose or find a great brand name for your own business or your client.

Create Your Buyer Persona

As I mentioned earlier, the brand name is not about the business owner and it’s not about their sentimentality. It’s about the audience, who they are, what they are looking for, what they want, and when you understand the image that you want to create in the mind of your audience that’s when you can create an effective brand name but the first step is understanding who that audience is.

Define Your Differentiator

This is the strategic aspect of the brand name. If the position that you want to own in the mind of your audience is included or associated with the brand name then the chances of your audience remembering your brand for that image or for that position is significantly increased. Make sure you define your differentiator that you know the position that you want to take in the mind of your audience before naming your brand.

Brainstorm Keywords

Now that you know who the audience is and you know the difference you want to own in their mind and be known for in the marketplace now you can start to gather ideas for your brand name. This needs to be exhaustive and there is no bad idea at this stage you want to include every single word that can be even loosely associated with your audience or the difference that you want to own in their mind. Take the time here to exhaust out every single idea possible in both keywords and brand name ideas. Take your time with this exhausted and go as far as you possibly can.

Integrate, Amalgamate, and Consolidate

This step is dependent on the previous step being exhaustive in that you have taken the time to get as many ideas and as many keywords because here you’re going to merge, truncate, extend and push the boundaries in terms of what’s possible. You’re going to merge words, chop words up, and you’re going to create something out of nothing. The more time you take with this the more chances you have of coming up with something new and something unique. Involve a heavy dose of creativity here, take the time to integrate, amalgamate, and consolidate.

Quality Filter

Chances are if you’ve done this correctly you are going to have a lot of crap to remember. I said earlier that there is no bad idea early on and you want to exhaust as many avenues as possible but when you get to step five where you’re going to have a lot of crap and you’re going to need to filter all of that through some quality control and the quality control that you want to filter it through is to ask is it memorable? Is it strategic? Is it concise? If you’re able to filter it through that quality control and it comes out the other side and t take all of those boxes then you well on the way.

Real-World Application

This is where you apply your brand name into the real world. You stack it up alongside the competitors within your industry and the global brand of the world to see how it fits and if it feels right for your brand, you can also put this into submission statements, vision statements to see how it fits within your industry and how it fits for your brand.
 
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