Whether you are naming your business or naming your products it’s important to think long and hard before you put the name on the package. Once you have built up some brand equity in that name, you’re not going to want to change it.
Of course, the most important thing is that nobody else has the name, so investigate the name thoroughly. I have known more than one business that has started with one name and had to change it because the name or a very similar name was actually trademarked by another company.
When considering names of more than one word, you need to consider whether the words flow well together and make the name easier not harder to remember. Another tip is the use of alliteration, commonly used in many business names, such as Coldstone Creamery or PowerPoint, for example. Both of those names roll easily off the tongue and because of the alliteration is easier to remember. Alliteration has long been accepted as a memory enhancer and is used in everything from cartoon characters to products and sports teams.
You can also consider names that may bring up certain feelings. An interesting fact you many not know, according to Aaron Keller writing for Entrepreneur.com, “Cellar Door has been rated as the most phonetically beautiful pairing of words.” This is a great boon for the wine business.
You also want to think about how the name of the business or product looks in the different places that it will be seen, e.g. the web, your logo, a brochure, social media or a billboard.
According to the SBA you should also be aware of the connotations the words may evoke. For example, does it reflect your business philosophy, your culture, the price point and the product you are selling? Beer, for example, may have much more whimsical, funny or slightly off-color names. Interestingly enough, there was a report on NPR in January of this year that talked about the fact that craft brewers are running out of names. Wine and spirit names, on the other hand, tend to be more sedate with an aura of quality, at least those at a higher price point.
So when you are naming your next product, think long and hard before it becomes part of your product line.