The Wall Street Journal ran a great article entitled "Three Best Ways to Create a Brand Name" by Raymond Flandez. For many people, naming their company is a hard task on the path of entrepreneurship, but it is an important step so it's good to spend the time brainstorming in order to get it right the first time. Below is an excerpt from the article:
Three Best Ways to Create a Brand Name
Creating a great brand name is almost half the battle in establishing your company or your product. But getting there involves the kind of creative thinking that might be outside a small-business owner's purview. If you're having trouble, branding experts say the first step is to pinpoint your strengths. Why are you the best? And what do you deliver that's unique? Then, consider the customers whom you're targeting and what they value most, such as social responsibility, authenticity or customization. Then, think about how you can best express these principles effectively through words.
Here are the three best ways to come up with a brand name:
1. Take inspiration from everywhere. Write down the first few ideas that come to mind when you think about your business' service, product and personality; try using symbols, metaphors and word variations, says Michelle Adelson, owner and creative director, of brand agency Copia Creative Inc., of Santa Monica, Calif.
That's what Dan Kim, chief executive of Red Mango Inc., a frozen yogurt franchise in Dallas, did while trying to name the flavors of his frozen yogurt and iced tea drinks. He wanted names that would give customers "an emotional experience" and appeal to their sense of adventure. For a tangerine-and-mango yogurt, he combined the flavors with the word "pandemonium" to create Tangomonium. For iced tea drinks, he wanted customers to hear the "tea" sound when they order, so he named drinks Fanteasia (a wild berry hibiscus tea) and Mysteaque (vanilla black tea with hints of bourbon flavor). "We embrace having fun with the names," Mr. Kim says.