The concept of "brand name development" is easily understood: You create a great new company or product, give it a name you love, then immediately, it is embraced by your target audience.
In reality, however, creating, evaluating, selecting and registering an effective brand name is far more complex and difficult:
Many managers underestimate the difficulty of successfully creating brand names. Perhaps they try to create names themselves, assign the task to a "creative" person in the company or undertake an employee naming contest. Here are just a few companies who named themselves, only to come later to my company, Idiom Brand Identity, to ask for a new name:
Self-naming almost never produces a successful result because those doing the naming lack the skills, tools, experience and time required. Moreover, the names yielded are often so common they fail to pass difficult trademark challenges and cannot be registered or protected.
If subsequent rounds of naming are undertaken, they come after significant expense incurred from lost time, legal costs, missed deadlines and delayed product introductions. A well-conceived brand-naming process using proven Best Practices can save time, money and frustration.