• If possible, do not use geographical names because it limits the scope of your business. However, this is an advantage if your product is associated with a given locale or affinity.
• Refrain from restrictive names to save you from trouble in the future in case you want to expand your line of business.
• Keep them short so as to produce memorable names.
Name as Part of Branding Strategy
A business name is not just a name; it represents your business identity. And in the business community, the way you represent and project your image is crucial in determining success. This is because perceptions, more than the actual value of the product or services, is essential in helping consumers decide on whether to buy that product or not. On top of the brand itself, it makes association with the company and its reputation. That is why most businesses spend and invest most of their efforts on building a trusted business reputation that will strengthen the trust of consumers on their company.
Your business name essentially determines how far your company will go in this endeavor. When people encounter your business or brand, you have only a meager amount of time to catch their attention. If you fail to do so, then you would have lost a potential customer. More than just intriguing, a good business name is one the compels your target market. If you can produce one, then it will surely catapult your business to your desired commercial success.
A good business name is not just a superficial aspect involved in branding but rather a legitimate business factor that must be taken into consideration.