Planning to launch your own business? Amidst all the hoopla of new brands and established business names, you will need ideas for a catchy name to make sure that your product stands out. The name of a business is an essential aspect of the entire marketing and branding strategy. The launch of any business, big or small, calls for detailed preparation prior to the launch and the existence of a concrete marketing plan to promote the business. The marketing process often involves a plan to create a specific brand image or brand identity in the market. Using signature elements like a brand logo or a specific color scheme, one can create a brand image, but in addition to that it is the brand name or the company name that needs to stand out.
First of all you need to remember that there are no surefire ways to come up with a successful and catchy name. More importantly, the name will only be a success if your products and services score well on quality and your sales are soaring. There are many examples of companies with ordinary or even absurd plumbing names that are doing well in the market. Similarly, there are instances of companies with unique and well-thought names, which are not really successful. So, it is safe to say that while the name of the business does create an impression in the mind of the prospective customer, it is ultimately the quality of the product that will decide the future of the product.
Ways to Come up with Catchy Business Names
Every company has a unique thought process that goes into the making of the name. The company name is often the brainchild of the company owner or creator (or the advertising department) and can be any name that the creator finds interesting and thinks is appropriate for the company. Here are some of the ways that companies have used to come up with their business name.
Unique Words: There are several company names which are unique words that are not necessarily related directly to the business arena or the profession. This creates a sense of intrigue in the minds of the buyers and keeps them guessing as to why such a strange name was chosen.
Common Examples: Adobe, Apple, Amazon
Keywords: Some names make use of words which directly give an idea about the business. No frills, to the point and blatantly obvious.
Common Examples: Pizza Hut, Burger King
Owner's Name: Several popular businessmen have used their own name or in general any other name for their business.
Common Examples: Mercedes, Boeing, Cadillac, Chevrolet, Ferrari, Kawasaki, Kroger, Akai, Black and Decker, Tommy Hilfiger, Nestle
Acronyms: Some business names make use of one or several words to form the name of the company and then use the acronym of the name to form the brand name.
Common Examples: BBC (British Broadcasting Corporation), TCS (Tata Consultancy Services), ESPN (Entertainment and Sports Programming Network), FCUK (French Connection United Kingdom.), FIAT (Fabbrica Italiana Automobili Torino)
Compound Words: Some people like to combine two related words to form a unique company name, which may not be necessarily a valid word.
Common Examples: Microsoft, Compaq, eBay, FedEx, Finnair, Hotmail, Intel, Manugistics, PetroBras, Qualcomm, Skype
Non-English Words: Many business names have their origin in varied languages like Chinese, Spanish, Sanskrit and so on.
Common Examples: Daewoo (means 'great universe' in Korean), Eidos (means 'species' in Greek) Nike (Greek Goddess of Victory), Sanyo (means 'three oceans' in Japanese), Sony (from the Latin word 'sonus' meaning sound), Volvo (means 'I roll' in Latin), Volkswagen (means people's car in German)
Wrong Spellings: There are some business names that are words which have been intentionally mis-spelled to make the name sound more interesting action dumpsters and catchy.
Common Examples: Flickr, Google, Topix, Zooomr
In general, a business name should be catchy, simple to spell and easy to pronounce. It is always good to keep things clean and simple. So if you are planning to launch yourself in the business world, make sure you use these ideas to come up with a catchy name. Be careful though, it shouldn't be over-the-top confusing for the customers to understand or you might end up losing out on business simply because your name was too difficult to understand.