Abstract

The article examines naming as one of the key elements of brand management, its role, and its meaning. This study addresses the most pressing problems for entrepreneurs during the creation of brand names. Also, the main negative consequences of choosing the wrong name are analyzed. The article discusses the most commonly used methods of generating names, examines the history of its choice by large companies (successful and negative experience). The process of developing the name is represented. The main approaches and tools for the names forming and classification of naming are considered and analyzed. The name plays an important role in the development of the brand. Besides, it is the first thing that draws attention to the brand and one of the key factors, which customers will eventually memorize about the product.

Highlights

  • Naming is the science of developing a brand name

  • If in small and medium-sized businesses such borrowings can play relatively less importance, later during expanding the brand and entering the international level, the brand will face a set of difficulties, the main of which will be connected with renaming

  • Before starting the laborious process of developing a name, it is necessary to answer the following basic questions: Who are we? What are we doing? What does our activity mean from the consumer's point of view? What is the meaning of the activity? What is our goal? What services or products do we provide? For whom do we provide? Market segment? What message should we convey to the target audience?

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Summary

Introduction

Naming is the science of developing a brand name. It plays a special role in the formation and development of entrepreneurial activity. It is a complex process of creating a competent name for a company, which will be able to attract consumers of the products of this industry by its name alone. Naming is an integral part of the formation and development of a brand, and its future success depends on how well the brand name is chosen. Naming is the process of developing a brand name for a company, product, or service, an essential part of a company's marketing strategy, an integral part of a brand's positioning. The name is the first thing that consumers pay attention to and is one of the key attributes that they will remember about the product

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