What’s in a Name?

A company’s name is important. It should explain what the company does and set the tone for the type of company it is. The name will create an expectation in the customer, not only regarding what products or services it offers, but also the attitude or personality of the company and its employees. Your name is the first opportunity to connect with your customers; all other marketing builds on the name to create your brand.

A name, including how it is spelled, will transmit meaning to potential customers, regardless of your intentions. For example, a high-end jewelry store will need a very different name than a costume jewelry shop in the local mall. Consider the expectations “Carter’s Custom Collections” sets when compared with “Kandi’s Krazy Kreations”.

For companies that operate in international markets, a good understanding of the local language, customs and traditions is important to help you communicate what your company does through its name. Two classic examples, one successful and one not, illustrate the importance of this include Kodak and the Chevy Nova.

When choosing a name for his company, George Eastman settled on the name Kodak. It was a simple word, easy to remember and easy to pronounce in almost every language. Even before dominating the US market, Eastman had set his sights on going international.

The other classic example is the Chevy Nova. A big seller for Chevrolet in the 1970s, it was a failure when exported to Spanish speaking countries. Why? “No va” in Spanish means “no go”, not the impression you want to make when you are selling a car.

Another consideration when choosing a name for your business is to think about not only what you do now but what you hope to do in the future. Having the foresight to see how “Barker Dog Treats” might develop into “Pet Care Central” in the future will save you considerable time, effort and expense.

One last recommendation… regardless of what you choose to name your company, it is important to get another opinion. Don’t just ask your friends and family what they think; ask some perfect strangers — ideally ones that fit your target market — what the name means to them. Remember to listen to them; they could be potential customers.