Position venture/product to acquire desired business image. (PM:131)

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Presentation transcript:

Position venture/product to acquire desired business image. (PM:131) EI 4.01 Position venture/product to acquire desired business image. (PM:131)

What’s in a Name? A business/product/brand name is very important because it represents your company’s identity. Much of your packaging, promotion, etc will incorporate the business/product/brand name. ?

How to Develop Your Brand/Company Name Develop a naming strategy Generate potential names Evaluate your potential names Test your name Protect your name

Characteristics of Successful Names Easy to pronounce, recognize & remember Give buyers the correct connotation of the product’s image Qualify for legal protection (not contain words or phrases in general use)

Legal Considerations for Names Check with the US Patent & Trademark Office to see if a similar name or variation of your name has been trademarked. Be sure that your name has not already been claimed and is in use by another business within your state. Claim your website domain and social media identity. Register your business name with your state – this is your “Doing Business As” (DBA) or trade name Apply for trademark protection