Developing an Effective Brand Name

Developing an Effective Brand Name

Introduction

Branding is one of the most significant facets of any business ahead of product, service, pricing, distribution, or location. Brand name introduces the company across the globe as it is the name that recognizes to itself and to the marketplace (Samu &Krishnan, 2010). This essay brief discusses about the significance of developing a brand name. It illustrates the guidelines and examples of effective and ineffective branding. This discussion further provides relatable examples. The essay ends with the dialogue on brand loyalty and its importance to the sports markers.

Discussion

Guidelines

A defined brand name is a mnemonic trigger that personifies consumer with the consumption of a particular brand. The brand name creation is almost half the battle in the start up of a company or a product (Nicholls et al., 2011). Following are three key guidelines for this process:

Inspiration: Brainstorming ideas that let one belief how a business want to be remembered to its customers is the first step to proceed. The use of symbols, word variations, colors, and metaphors should reflect services, personalities, or products of the business.

Memorable: Brand is not going to be strong and memorable in the marketplace if it sounds like something else. The name must be whimsical and reflect the business offerings of the company.

Relatedness: The process of designing brand name must make sure to reflect or matches with the strategic mission and vision statement of the company. Managers and marketers must keenly look into areas that makes brand more significant, interesting, and different. This consideration must stand out brand itself in the marketplace.

Examples of Effective & Ineffective Branding

Sports is always been an integral and important part of the identity of nation. The example of Olympics reflects the defining attributes of Coliseum and Ancient Greece in Rome. These sporting events personify the entertainment culture and sports of the Roman civilization. The brand recognition and promotion starts as organizations and associations began to use it strategically for past few decades.

National Football League is the prime example of effective branding for sporting events at international level. The example of ineffective branding in sports is the biggest failing case of Oklahoma City Thunder. It is a professional American basketball franchise. Discussion on both the brands and the reasons with justifications are given in the next section.

Reasons

Nation Football League is a popular and leading American football league. It is ...