A reader asks: When are branded names preferred over descriptive names?
For your naming strategy, you should attempt to brand only one thing. Which will it be? The company, the portfolio, or the product? Or said differently, which are people buying?
Large companies like Oracle, SAP, and Microsoft are selling their entire sets of portfolios as a one-stop shop. However, for smaller enterprise players, positioning and naming the portfolio of products is often the best approach, with the “products” really being more like features of the portfolio. Small “utility” companies with only one or two products should focus on branding the individual products.
Related post: Should you change a product name?Here’s a variation on the question: what is your exit strategy? If you’re a large company, you want people to know your company name so they’ll buy your stock. If you’re hoping to sell your portfolio or product to a larger company someday, put all your brand equity into what they will buy: the portfolio or products. After all, they don’t want your company name; they want the customers and the functionality of the products.
Focus your brand efforts on what buyers are buying.
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