What makes a good brand name?

I posted earlier this week about our work with some of our Bright Collie clients, helping them through a naming process.

I love these types of projects, and I'm always asked for examples of good brand names whenever I undertake them. So, I wanted to share one example I feel is a good brand name and why with you.

A great name. A now iconic?brand.?

The book Shoe Dog and the equally brilliant film Air will do a much better job than this post of giving an insight into the people, attitude, and culture that have made Nike an iconic brand today.

But, as a summary, in 1964, Phil Knight and his business partner, Bill Bowerman, founded Blue Ribbon Sports (BRS), a company that distributed Japanese running shoes in the United States.?

While Blue Ribbon Sports resonated with the founders' initial vision, a change was necessary to reflect the company's evolving identity and ambitions.

Why the Name Change?

By 1971, BRS had grown beyond its original business model of distributing footwear and was about to split from its original shoe supplier — Onitsuka (now ASICS).?

The company was on the verge of launching its own line of shoes, designed with the innovation and performance enhancements that would set it apart in the competitive athletic market.?

The founders realised that Blue Ribbon Sports did not capture the spirit and dynamism they wanted to convey. They needed a name that was memorable, impactful, and symbolic of the brand's values and aspirations.?

Phil Knight pitched the name 'Dimension Six' to his team, which everyone rejected as 'unspeakably bad'.

They finally chose 'Nike,' inspired by the Greek goddess of victory, symbolising strength, speed, and triumph.

So, what makes Nike such a good name?

When developing a name, you should always consider the marketing, storytelling opportunities, and growth advantages that the name can provide you.

The Nike name does that in the following ways:

• Memorability and Impact:?'Nike' is short, unique, and easy to remember. This simplicity aids in brand recall, making it easier for people to recognise and remember the brand.
• Brand Identity:?'Nike' embodies the essence of victory and excellence, aligning perfectly with the company's mission to inspire athletes. This strong brand identity helps in creating an emotional connection with consumers.
• Global Appeal:?The new name has universal appeal, transcending cultural and linguistic barriers. This is crucial for a company aiming for global dominance.
• Innovative Image:?The rebranding signified a new era of innovation and forward-thinking for the business. It communicated to the market that Nike was not just a distributor but had the vision to become a pioneer in athletic footwear and apparel.

A lesson in strategic bravery

Changing a company's name is a significant risk, and full of challenges. However, Nike's rebranding demonstrates the power of strategic bravery.?

By recognising that the original name no longer served their long-term goals, Knight and Bowerman made a bold decision that positioned Nike for future success.?

The success of Nike's name change is a testament to the importance of aligning a company's name with its vision and values.?

It highlights that a well-executed rebranding can elevate a company's market position, drive growth, and build a lasting legacy.?

Nike's transformation from Blue Ribbon Sports to an iconic global brand is an excellent example of how a strategic name change can redefine a company's trajectory and amplify its impact in the industry.

It would help if you signed the likes of Michael Jordan as a brand ambassador, of course. But would he have signed up for a company called Blue Ribbon Sports?