Many people think about coming up with a name for a company which is easy to spell. Some may even think it’s not even very important, convinced there are “bigger’ issues than naming to deal with when launching a new venture. Those who believe that are hoping their name for a company or product will be neutral and cause no problem. But that, if successful, simply means they have decided to ignore the sales power of a name. They are deciding to go into battle without the benefit of an effective name. It is like fielding only ten players in a football game and hoping to win against the opponent’s eleven.
A product name can influence sales.
Choosing a name should be part of business strategy. It should be developed as an asset because a name can help sales. You can browse brandroot to gather more valuable information about business names.
On the other hand, a name can hinder sales.
For a current example, Palm had the number one smart phone product a year ago when they came out of all those different conferences, but a year later they have not gotten the sales they needed. And this, despite they’re being with arguably the best carrier, Verizon. On the other hand, the iPhone has thrived with the second best carrier, AT&T.
A product name can hinder sales.
What were they thinking? I am sure there were marketing people and legions of management people and committees involved in naming the product. I’m sure hundreds or thousands of potential names were considered. Money was spent developing a product name. You must try looking for company names that are simple.How A Company Name Can Prevent Sales by Mark Freedman
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