Strategies of naming a company

Abstract

According to Lexicon, “A brand name is more than a word. It is the beginning of a conversation.”[1] Nowadays, brands not only represent the product or a company, but they also have a strong association with perceived quality, consumer’s life style, social class, taste, etc. [2] We believe the same refers to company names, as customer loyalty is to a degree the result of an association given by the name. That is why creating a winning business name, however difficult it may seem, is one of the most important things the prospective company owner will do during the process of starting a business. This fact explains our interest in the topic and accounts for the relevance of the current analysis. Our research focuses on a number of strategies to appropriately name a company, on some examples where the strategies used brought about a positive outcome, and on some mistakes to be avoided in practice.