Over the last 20 years, I’ve seen the very best of the best companies miss launch dates because they couldn’t agree on the name. More recently, even the URL has been a showstopper – and I’m talking about Fortune 500 Companies, people!
So what’s the deal? If you spend the money on market research and have a quality product supported by great customer service and a competitive price point – does the name really matter? If so how much?
In my previous life I sold printing. A lot of it. We used to joke and say “Price, quality, service – pick 2.”
In the world of branding it goes more like this ,”Market research, great product, amazing service – and I want a BIGGER logo!”
Was Shakespeare wrong when he said this…
“What’s in a name? That which we call a rose By any other name would smell as sweet.”
~William Shakespeare, Romeo and Juliet
The experts (and apparently Shakespeare) would argue about the value of a name until they were blue in the face, but the bottom line is – names matter.
I once saw an anonymous quote which said it best…
“Words have meaning and names have power.” ~Author Unknown
Actors and singers are the only persons who understand that names can attract or detract customers. Ralph Lifshitz didn’t think his name had enough panache for a business. He changed his name to Ralph Lauren. This master marketing maven (try saying that three time really fast) has transformed the way products are branded. His Polo brand has revolutionized global marketing. Consumers wear his logo with pride. Why? Because his products are superior and he built an outstanding brand. It all started with the company name – Ralph Lauren.