Developing a good business name or product name is crucial. A bad name can spell the end before it even begins. Your name needs to make an immediate connection with your potential customers, giving them a mental emotion and feeling directing them use your business or product.
The first step in name development is deciding what you want your new name to do for your marketing, branding and advertising efforts. Making this decision allows you to narrow your name search to a certain category of name.
The Four Major Categories of Names are:
Functional / Descriptive Names – Functional names are purely descriptive of what a company or product does.
Invented Names – There are two kinds of invented, as in made-up, names: those that are built upon Greek and Latin roots, and those poetic constructions that are based on the rhythm and the experience of saying them.
Experiential Names – Experiential names offer a direct connection to something real, to a part of direct human experience.
Evocative Names – These names are designed to evoke the positioning of a company or product rather than the goods and services or the experience of those goods and services.
Names and their Major Category:
- InfoSeek, LookSmart = (Functional)
- Explorer, Navigator = (Experiential)
- Yahoo = (Evocative)
- Trans World Airlines = (Functional)
- United = (Experiential)
- Virgin = (Evocative)
- Digital Equipment = (Functional)
- Gateway = (Experiential)
- Apple = (Evocative)
Each Major Category has it's Pro's & Con's and using a particular Name always comes with a cost to brand that name, some much larger than others.
Folliguard - Hair Growth Product. (Functional) Based on the 2 words Folic (Hair) and Guard. It tells the consumer "Their Hair will be Guarded from Hair Loss". The product was formally called Folicure which had lower results and because the company never did a Trademark search it infringed against a similar product. After changing the name, sales dramatically increased. Folliguard went on to sell Tens of Millions of dollars in product.
Therma-Gennex - Weight Loss Product. (Functional) Based on the 2 words Therma (Burn) and Gennex (Genetics). It tells the consumer "You'll scientifically lose weight by burning off the weight". The product was marketed priorly as Fybersan. After changing the formula/ingredients and name the results we're increase by 400%. Therma-Gennex went on to sell Millions of dollars in products
CarboGenex - Weight Loss Product. (Functional) Based on the 2 words Carbo (Burn) and Genex (Genetics). It tells the consumer "You'll scientifically lose weight by reducing carbs". The product concept was considered NEW at the time. It took hundreds of thousands of dollars to break into the market. Other products entered the market and increased market penetration. From this a NEW product name was developed called UltraCarb to show it's dominance in the market. UltraCarb went on to sell Tens of Millions of dollars in products.
Once a name is chosen, we more fully develop a range of taglines, images and language that help you pinpoint the most effective, perfectly nuanced personality with which to present your name.
- Create Your Own Website: Fast, Easy & Fun - Guaranteed!
- Carb Pill: Reduce the Carbs - Reduce the Weight
- The Dental Plan: Great Plan - Great Smile!
- Therma-Genexx: Lose the Weight & Keep it Off!
- Verexx: Recapture Your Youth!
- Look4Occupation: The perfect job is just a click away
- Calmizen: Get Calm Again with Calmizen
A Unique Selling Proposition is the essence or benefit of what you're selling. It's the unique benefit you offer. It may be a broad selection, big discounts, advice and assistance, convenience, top-of-the line products, speedy service or a niche that isn't being filled in the market.
A strong USP can be an extremely compelling and powerful advantage. Use your USP in your advertisements, your signs, your sales calls and your sales letters.
Never promise what you can't deliver!
Examples:
Weight Loss: Lose 2-3 dress or pant sizes and 20-24 lbs in just 30 days or we'll refund your entire purchase price back!
Hair Growth: Grow back thick, sexy hair in just 90 days or your money back!
Gym: Feel Fit, Feel Heathly, Feel the Energy... Get the Body you want in just 30 days - or I'll pay your membership for you!
Website Design: If we don't design you the most professional looking website with the best functionality at the best price in just 30 days - you'll get 100% of your money back with no questions asked.
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