Why Brand Names in Business Are Important A brand name is one of the most important assets you can have in business. A brand name helps your business to stand out, allows customers to connect with your products, and adds value that other competitors may not have. Customers who love your brand will advocate for it and tell their friends about it, even if you’re not around to do so yourself! Here are some reasons why brand names in business are important to pay attention to as you grow your company into the future.
What makes a good brand name? Here are a few factors that can determine if your brand name is good or not. It should be memorable, it should have universal appeal, it should have personality, and it has to be able to stand on its own without a trademark symbol attached to it. A good brand name can do wonders for your company, whether you’re a large corporation or just starting out. Take Apple Computers, Inc. They were able to build their brand around one of their computer products: The Apple iMac. They used something about themselves as part of the product name, which was unusual at that time, but today it has become standard practice. They even went so far as to use i twice in that first product because what made it unique was inside (Intel) and built into every aspect (internet).
Should brand names be unique? Yes, a brand name should be unique. And, generally speaking, it is. Companies spend millions of dollars to come up with something that’s memorable enough to become synonymous with their products or services. But just because a brand name is clever doesn’t mean it has any real value for consumers and may even hurt sales and profits for some companies. If a name sounds clichéd or generic, customers could be turned off by it—no matter how recognizable it is. For example, do you really want to buy from Jiffy Lube® or Staples®? Probably not. Customers are also likely to turn away from a company if its name is too long and cumbersome; they want something they can easily pronounce and spell when referring to friends, colleagues, or family members.