What's in a name... and what is not

Two interesting stories this week led me to think about the importance of naming when it comes to products, services, and companies.

First off, a story in today’s New York Times explained that the YMCA is now going to refer to itself as “the Y,” conforming to what consumers have called it for years. (Click here to read the story.)

Also today, a small hyperlink at the bottom of a Lempert Report newsletter led me to an American Express OPEN forum about how some of today’s most well-known companies decided on their names. Click here to see how titles like Google, Yahoo, and Asus were chosen. (Click here to read the blog posting.)

Implications: While these stories can seem more entertaining than informational, it’s important to remember the importance of choosing the right name when launching a company, product or service (or for that matter, even when simply rolling-out an initiative or promotion!)

Often, companies choose names based on how they would like to define themselves. The more profitable strategy can be to consider how the consumer might define you, how they might distinguish you from competitors, and how they might remember you in an age of information overload.

Mike Anderson