Good brand name are often considered the spiritual strength of a business. To build a perfect brand, it requires a combination of many factors. For example, mission statements, slogans to images. Brand is one of the first elements customers come into contact with when experiencing a product. So businesses need to make sure this first impression is memorable. And attractive enough to attract the target audience to learn more about the business.
1. What is the good brand name?
Good brand name is part of the brand identity. Helps customers recognize and differentiate a business’s products/services from competitors.
Many people confuse the difference between a good brand name and a business name. However, a brand name is a proper noun. It is created for a business product or service. Although, in some cases, the business name is also the brand name. But a business can still own many different brands if it has many products and services.
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For example, Apple is a corporation that owns a diverse product portfolio. Therefore, this group gives many different brand names to different products. For example, Iphone, Ipad, Macbook, Ipod, Apple Watch,… Or Omo, Comfort, Clear, P/S, Knorr,… are brand names belonging to Unilever group.
Brands act as representatives of businesses. Be the first and direct point of contact with customers. A product or service with an impressive brand name will help reach customers better. As well as increase the effectiveness of advertising strategies. From there, it affects the ability to convert and increase sales revenue. Brand names can also make a difference. Increase reputation and create competitive advantages for businesses.
2. Characteristics of a good brand name
2.1 Unique
The main goal of branding is to differentiate a business in the market. Therefore, uniqueness is one of the most important factors when naming a brand. A unique name will help your business impress users. And impression is the first step in the journey to penetrate the customer’s mind.
Unique brand names also help customers not confuse a business with its competitors. At the same time, easily search for brand information on tools. A unique brand name also helps customers have quick associations with products and services. Helps create deeper brand connections.
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McDonald’s is a unique and distinct brand name. Founder Raymond Kroc named it after two burger brothers, Dick and Mac McDonald. The person who gave him the idea of developing this fast food chain.
2.2 Easy to read, easy to remember
A good brand name is one that is easy to read and remember. Thanks to that, consumers can easily recall the brand they have accidentally come into contact with before when they have a need. A memorable name also aids in word-of-mouth marketing. Helps people easily popularize and share the brand with those around them.
It needs to be easy to remember both figuratively and onomatopoetically. Because the brand name will appear in many contexts and on many different platforms. From social media, television to radio, websites. This helps ensure consumers can easily recall the business’s brand. When you’ve seen or heard about it on promotional videos.
For example, Iphone is a popular phone brand name in the community because it is easy to remember and associate with. I is me and phone means phone. The audience will easily remember the brand name and remember the business’s products.
2.3 Easy to protect
That is memorable, easy to read, and unique is not enough. The most important factor to ensure the sustainable development of a business’s brand is protection. Brand protection will help businesses own exclusive brand rights. Avoid situations of plagiarism and legal risks later.
In Vietnam, the conditions for protecting brand names are specified in Clause 3, Article 6 of the Intellectual Property Law 2005. Specifically, the good brand names are protected. If it is distinguishable from others or contains a proper name component.
2.4 Easy to develop
When building a business, leaders always want to grow their business. Therefore, right from the start, businesses should choose a brand name that is capable of long-term development. So that businesses can expand their business activities and develop new product lines. The brand name will still be suitable for the business.
3. How to establish an impressive brand
With the importance that the good brand name brings. Businesses need to have a systematic strategy to be able to choose an impressive name.
Step 1: Clearly define the brand core
The first step in building the good brand name is clearly defining the brand core. This will be a guideline for businesses to choose a suitable brand name. And contribute to developing brand strategy.
To determine the brand core, businesses need to clarify 4 issues:
- Target
- Vision
- Mission
- Core values
This is the basis for coming up with a brand name suitable for the business activities of the enterprise. Therefore, business leaders need to invest time and effort. To be able to determine the core of the brand to balance the desires of the business with the market situation.
One of the tips to identify the core brand to create an impressive brand name is that these statements need to be short and concise. The more a business refines the words in its mission and vision statements, the easier it will be to name the brand later.
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For example, APEXCORP is a brand that provides business strategy consulting and capacity training services for corporate personnel. Apexcorp’s goal is to become a model company in its field of business. Therefore, the name Apexcorp – Apex means pinnacle, and is completely suitable when expressing the core of the brand.
Step 2: Identify the brand’s differentiating points
Clearly identifying the factors that make a brand different is the key to finding an impressive brand name. If the core brand is what makes a business stand out. The differences will make the business even more unique. To be able to identify points of difference, businesses need to analyze their competitors. From there, identify your own unique points.
After clearly analyzing competitors. Businesses need to define their own identity. The most important thing in developing brand identity. Is to ensure a balance between brand value and business value.
Step 3: Create a brand name
This is the most important and interesting step in the brand name creation process. Based on the brand core and previously identified differences, businesses can base and name the brand in the following 7 ways:
Brand name description
Clearly demonstrate the product/service or clearly communicate the core competencies of the business. The advantage of a descriptive brand name is that it makes it easy for customers to remember. And relate to the business activities of the enterprise.
Such as The Body Shop (cosmetic brand specializing in body care products). Booking.com (online booking website). Fast delivery, Economical delivery (shipping business). Or Vinamilk (Vietnam’s “national” milk brand).
Brand name association
Evocative names are brand names that are created based on descriptive names. That is, these names use suggestion or metaphor. To remind customers of the product/service. Brand positioning or brand experience. And a good associative brand name is one that can make customers remember the entire brand story. Strongly evoke customer emotions instead of just remembering the type of business.
Associative brand names overcome the weakness of descriptive names. It’s usually easier to register a trademark.
Brand names are invented
This is probably the most unique naming method. Because this brand name will be a completely new word created by the business. This naming style allows businesses to freely create new brand names. But coming up with a new name that still fully represents the brand spirit is not easy.
Usually, invented names are created by putting together Latin or Greek words. Or it can also be intentionally stylized an existing word to create a new word. Invented names are often easily trademarked. This brand name can cost businesses a lot of time and money. It requires investment to build brand awareness in the minds of customers.
Abbreviated brand name
Abbreviated names are a brand name method favored by many large corporations. This brand name is created from the combination of the first letters of a meaningful phrase. Like the full name of the founder or the origin of the brand.
However, the abbreviated brand name itself can be confusing when customers do not understand the full phrase behind it. Makes conveying brand meaning more difficult. Therefore, for the abbreviated brand name to work effectively. Businesses need to build a systematic brand strategy. To ensure the brand message is conveyed accurately.
Famous abbreviated brands such as: BMW (Bayerische Motoren Werke – Bavarian Motorcycle Factory). KFC (Kentucky Fried Chicken – Kentucky Fried Chicken). Or H&M (Hennes & Mauritz)
Geographic brand name
Naming a brand based on geographical location helps the brand have a connection to the culture or history of that name. The geographical brand name will clearly show the origin of the brand. This is also one of the popular naming methods in Vietnam. Such as Tan Chau Silk, Bat Trang Pottery, Bac Ninh Lychee, Bien Hoa Sugar, Khanh Hoa Bird’s Nest.
Brand name according to founder
Another common way is to name the brand after the founder. In Vietnam, this type of brand name is also quite popular. Often combined between the names of the husband and wife, or the names of family members. While in countries like the US and Italy, the brand name is often named after the founder’s surname. Shows a rich history and long-standing development.
Step 4: Evaluate the brand name
One of the biggest difficulties in naming a brand is that a business has already chosen that name first. To avoid legal problems later, businesses need to check and re-evaluate the brand name after choosing it.
Choosing a new brand name is not at all simple. There is a very high possibility that the brand name the business chooses is already on the market. At that time, businesses need to check the issue of brand protection. If the brand name is not registered. Businesses can register for protection. However, the ideal is still to choose a completely new brand name. To help customers avoid confusion.
4. Perfect your business’s brand strategy
Complete the brand strategy to support the business’s brand name
4.1 Create comprehensive brand usage guidelines
After establishing a brand name suitable for development goals. Businesses need to ensure that they maintain the quality and consistency of their brand name. So that brand messages are conveyed most clearly.
Therefore, businesses need to develop a specific set of principles. To guide company members to use the correct brand style. Especially the design team. Brands just need the wrong font style, color or even the spacing between letters. This also has the potential to lose the original brand meaning.
To create a comprehensive set of brand name usage principles, businesses can follow these 4 steps:
Step 1: Choose a design format
Brand names can appear in many different forms. Therefore, businesses need to consider the forms they will use to come up with appropriate brand principles. There are 3 basic design formats: print design, static website design and dynamic design.
Step 2: Identify the elements in the set of principles
The basic elements of the brand guidelines include:
- Brand core: purpose, vision, mission and core values. The brand core will help those who use the brand name capture the brand spirit. And convey content in the most accurate way.
- Brand essence: brand voice. Brand Personality,…
- Message: tagline, slogan, value proposition, difference/core of the brand
- Brand image: logo, colors, typeface,…
- Language: In addition to visual elements, businesses can include additional elements such as basic product descriptions. Or words that should not be used when talking about brands. To well control the content of communication with customers.
Step 3: Check your brand guidelines
The final step in building a set of brand guidelines is to test and adjust (if necessary). To ensure comprehensiveness and understandability. Let employees in your business view and comment on the principles. Because it is they who will implement the contact points between the brand name and customers.
4.2 Building brand identity
Some basic elements in brand identity include:
- Logo: is a symbol of the brand. Helps customers more easily remember the brand name when a special image appears. There are three basic types of logos that comprise logomarks. (simple image representing a brand like Nike’s swoosh or Apple’s apple).
- Wordmark (Brand name in a font such as Coca Cola or Gucci). And combination logos (both the image and the brand name styled together like the Puma brand).
- Typography: Typography contributes to expressing the personality of the brand name. Businesses can use available text forms. Or create a new text form for yourself.
- Brand colors: each color has its own meaning.
4.3 Creating brand stories
To be able to build an impressive brand story, businesses need to focus on the following 5 factors:
- Meaning of the story
- Personalized
- Feeling
- Simplicity
- Authenticity
4.4 Brand positioning
Brand positioning is the activity of shaping customers’ thoughts about a business’s products and services so that the brand name occupies a special position in the hearts of customers. Brand positioning will help businesses reach target customers effectively by making brand customers stand out thanks to specific characteristics or benefits.
Good positioning will help businesses improve competitiveness, especially price competition. When a brand name has captured a specific position in customers’ minds, it will help increase their ability to make faster purchasing decisions among countless products on the market.
To effectively position a brand, businesses can follow these 4 steps:
Step 1: Identify target market
Clearly defining the target market will help businesses clearly understand their target audience and come up with appropriate positioning strategies. Basic elements to describe the target market include an industry overview and prospects, macro and micro factors affecting the industry, and target customer portraits.
Step 2: Analyze competitors
SWOT analysis and social listening are two comprehensive analysis methods, easy to conduct and suitable for small and medium businesses. This analysis will help businesses determine the strengths, weaknesses and positions of competitors in the market, thereby choosing the appropriate position for the business.
Step 3: Brand positioning
At this step, businesses need to draw a positioning map of their competitors and themselves. Then, proceed to build brand positioning in the minds of customers, ensuring all brand strategies consistently reflect the proposed positioning statement.
Step 4: Evaluate and measure effectiveness
To ensure brand positioning is consistent with the entire brand strategy, businesses need to regularly evaluate and measure effectiveness. Depending on the overall goals of the brand, businesses can set different evaluation criteria. In particular, three main factors can be considered: brand name recognition, uniqueness and conversion rate.
5. Brand naming trends 2024
Name “This & That”
This way of naming a brand includes two words, usually nouns, to create an easy-to-associate image in the minds of customers. To keep up with this trend, businesses should choose two words that are short, meaningful, or create a stimulating, attractive feeling when paired together for the best effect. Such as Dolce & Gabbana (names of the two brand founders), K&K Fashion (names of founders Khang and Khoi).
In particular, H&M is an interesting case for this naming trend. H&M stands for Hennes & Mauritz. Initially, founder Erling Persson named this fashion company Hennes (meaning “hers”). However, in order to expand its business to children and men, Hennes acquired the fishing and hunting equipment retailer Mauritz Widforss in Stockholm and changed its name to Hennes & Mauritz, also known as known as H&M today.
Compound name
The trend of naming brands by combining words together is increasingly popular because it avoids cases of duplicate brand names. This naming method is also quite simple, businesses just need to search for available names and combine these names together to form a new word. Naming a compound name also helps the brand name carry more meaning than a regular single word. Brand names created this way include Snapchat, Facebook and Netflix.
Name the brand after a person’s name
In the Vietnamese market, there are many companies that name their products after people, especially businesses whose leaders are famous people like Muoi Kho restaurant (named after the nickname of Artist Truong Giang). , Mac Dang Khoa Vermicelli,… This brand naming method is increasingly popular because it is simple, familiar and easy to remember. In addition, this brand naming method also helps businesses easily personalize the brand to convey to the target audience.
Conclude
Developing a brand name requires a lot of effort and investment in time and effort. A good brand name needs to be unique, user-friendly, future-proof and international. And above all, the brand name must reflect the story and values of the business as well as evoke emotions and build connections with the business’s potential customers.
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