Hide this You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Branding

What Is In The Brand Name?

What Is In The Brand Name?
Image credit: Shutterstock
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

There are companies mushrooming every now and then globally as well as locally. Most of the companies solely aim at selling their products or services to us while some of them aim at selling the brand to us. When we use the terminology – “Branded goods” we generally do not signify the utility or functionality of the product/service rather what we gently remind ourselves is the “brand”. When a consumer attaches himself/herself with a brand it is the success of branding.

Going to buy a product is driven by the utility but choosing one product over another given the external factors remain constant is Branding. A lot of companies tend to invest in branding strategies and this is fruitful even in the times of crises.

Researchers figured out that even when the economy crashes down, sometimes the brand loyalty stays intact and here lies the successful brand establishment of the company. The idea of buying a space in the minds of consumers is nothing but branding. Consumers may or may not connect with the product but they do establish connections with the brands.

Under the broad umbrella of branding falls brand name. The brand name is certainly the very first thing that stamps in the minds of your prospective consumers hence it is integral to choose the right brand name. So what are the tips that you can consider while figuring out the brand name?

1. Reflecting brand identity: You brand name determine how are you going to be perceived by the consumer. Picking up a name that defines your core value or portrays the image you want to put forth is a good move. For instance, if your brand is a global leveled brand you can consider naming it something that would match the global standards.

2. Target audience: The first rule of marketing strategy is identifying the target audience correctly. Similarly, your brand name must determine the audience that you are targeting. For instance, keeping the name of a regional newspaper in the regional language speaks that this brand stands for this particular regional language and is mainly for population speaking in this language. You brand name should never confuse the target audience.

3. Easy to grasp: We come across a lot of things in an entire day yet we recollect some, remember some and forget some. The things that manage to impress our brains stay in our head while other things sweep off. Your brand name must not just be appealing but also interesting enough to remember. At the same time make sure that you don’t end up making It tough to hear, understand or speak. It must be catchy and easy at the same time.

Brand names are integral assets to the organization because consumers emotionally attach themselves to the brands through their name followed by the experience. Without a doubt apex quality products/services make your consumer visit you again but a strong and connectible brand name gives you an edge over your competitors in the market making you choose them over every other brand you compete with.

Edition: December 2016

Get the Magazine

Get the monthly dose of Entrepreneur delivered to you.
Subscribe Now