5 Things to Consider When Choosing a Brand Name

Introduction:

A brand name is a critical element of any business's identity, representing its values, offerings, and overall brand experience. However, there are instances when a brand name no longer aligns with the company's objectives or fails to resonate with its target audience. In such cases, it might be time to consider rebranding and adopting a new brand name. In this article, we will explore five points to consider when creating a brand name, supported by academic references and peer-reviewed work.

?

Create something Short and Unique:

Research suggests that shorter brand names tend to be more memorable and impactful. A study conducted by Alter and Oppenheimer (2009) found that people tend to evaluate shorter names more positively than longer ones. Moreover, unique brand names enable better differentiation in a crowded marketplace. The work of Romaniuk and Nenycz-Thiel (2013) supports this notion, highlighting the significance of distinct brand names in enhancing brand recall and recognition. A great real-world example of this would be Gap or Dell, both short, easy to remember and unique enough to stand out among the many others brands within the computing and fashion industry.

?

Keep it Simple:

Simplicity in brand names helps in customer understanding and accessibility. According to the research by Rettie and Brewer (2000), simple and familiar brand names are more likely to be processed effortlessly by consumers, resulting in increased brand recognition and recall. Furthermore, the work of Kahneman (2011) emphasises the cognitive advantage of simplicity, demonstrating that simpler stimuli require less mental effort, leading to more positive consumer responses. Disney and Marvel would fit into this category of being simple and easy for customers to recognise.

?

Do Your Research:

Before finalising a new brand name, conducting comprehensive market research is crucial. Brand name research can involve qualitative methods such as focus groups and interviews, as well as quantitative techniques like surveys and statistical analysis. By gathering insights from potential customers and industry experts, businesses can ensure that their new brand name resonates with the target audience and aligns with their expectations. This can be a crucial consideration, WWE used to be called WWF but due to a trademark violation with the World Wildlife Fund they had to change to the well know WWE.

?

Consider a Non-Dictionary Word:

Creating a brand name that is not a dictionary word can provide distinctiveness and foster brand associations. Research by Keller and Lehmann (2006) indicates that non-dictionary brand names tend to be perceived as more innovative, which can positively influence consumer attitudes and purchase intentions. Moreover, the uniqueness of non-dictionary words helps in trademark registration and legal protection. Google reigns supreme here. The most used browser on the internet is a brand which used a non-dictionary word.

?

Tie It to Your Story:

A brand name that reflects the company's story, mission, or values can enhance brand authenticity and emotional connections with consumers. Studies by Escalas and Bettman (2005) highlight the importance of narrative coherence between a brand's name and its underlying story. When a brand name effectively communicates its narrative, consumers are more likely to develop positive brand associations and engage in long-term relationships with the brand. A good example for a brand name which has tied a story to it’s name is Netflix, the idea being you can watch a film or ‘flix’ on the internet or the ‘Net’ creating the worldwide known Netflix.

?

Conclusion:

Re-evaluating and potentially changing a brand name is a significant decision that should be guided by strategic considerations and supported by research. By creating a short and unique brand name, keeping it simple, conducting thorough market research, considering non-dictionary words, and tying the name to the company's story, businesses can position themselves for success in a dynamic and competitive marketplace. Remember, a well-chosen brand name can be a powerful tool in capturing attention, conveying meaning, and building strong brand equity.

?

References:

Alter, A. L., & Oppenheimer, D. M. (2009). Uniting the tribes of fluency to form a metacognitive nation. Personality and Social Psychology Review, 13(3), 219-235.

Escalas, J. E., & Bettman, J. R. (2005). Self-construal, reference groups, and brand meaning. Journal of Consumer Research, 32(3), 378-389.

Kahneman, D. (2011). Thinking, fast and slow. Farrar, Straus and Giroux.

Keller, K. L., & Lehmann, D. R. (2006). Brands and branding: Research findings and future priorities. Marketing Science, 25(6), 740-759.

Romaniuk, J., & Nenycz-Thiel, M. (2013). Behavioral brand loyalty and consumer brand associations. Journal of Business Research, 66(1), 67-72.

Rettie, R., & Brewer, C. (2000). The verbal and visual components of brand names: An empirical study. Journal of Marketing Communications, 6(2), 63-76.