BY MARSHAD BARRY
In our day to day lives we are always granted an opportunity to choose our products and services from many competitors who are willing to make us their valuable customer. Nevertheless, before a choice is made our prime thought and concern is the “Brand Name” possessed by the relevant organization, as we inherently prefer to choose the best in the market. Thus, creating the right brand name can have a great impact in the augmentation of one’s business. A brand should be able to tell a story of its own and the narrative should be comprehended by the customer instantly. Apple is the epitome of an iconic brand. The computer company originated with a bold and fresh take on naming a midst the HOs and IBMs prevalent in the market. They in fact positioned themselves as an everyday computer for everybody by introducing themselves as a fruit that everyone likes to consume daily.
What assists you in creating a good “Brand Name”? As a matter of fact, there is no magic formula to have a great “Brand Name”. Simply, it should be easier to use and easier for your customers to remember. A study by the University of Alberta discovered that consumers have a more positive reaction to brands with repetitively structured names; such as Coca-Cola, Kit Kat, and Jelly Belly.
In the process of creating a brand name, there are a few common traits one can consider in making a great impression. A brand name should be meaningful. It should conveniently communicate the essence of your brand, effortlessly build an image in one’s mind and create a positive emotional connection. Furthermore, it should be “distinct”. Its unique and memorable characteristics assist the brand in standing out from its competitors. Additionally, it should be accessible; where the target market can easily understand it, say it, spell it, or easily find it online (Google and other web platforms). Subsequently, as soon as a brand name is chosen, it should be trademarked and the domain should be clinched. Basically one should legally “own” the brand name. Last but not the least, the brand name can be communicated to the general public through an attractive and eye-catching design with icons, logos, etc.
A brand name is the first step taken in creating a memorable and strong product or service in the minds of the general consensus. Thus, in creating a brand name as such, it needs to be done thoughtfully and strategically devising a very clear visual identity.
The heart of a brand name has to consist the indication of what you are trying to achieve through your brand. This can clearly be understood as the “Purpose of your Brand”; why do you exist? and what are trying to achieve though your existence?. It should manifest the vision and mission of the establishment, where your establishment is headed, the values it will exhibit, the principles and policies which are utilized and fundamentally understanding what makes your brand unique.
In a nut shell, brand image refers to how your consumer views your brand. Hence, it is essential to develop a strong brand equity which can compete successfully in the market, while knowing and communicating what your brand stands for. Thus, creating positive customer experiences in significant strides subsequently elevating the standards of one’s organization.
