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	<title>brand name Archives - Trade Ready</title>
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		<title>Develop the perfect brand name for your business with these 7 simple steps</title>
		<link>https://tradeready.ca/2018/topics/marketingsales/develop-perfect-brand-name-business-7-simple-steps/</link>
					<comments>https://tradeready.ca/2018/topics/marketingsales/develop-perfect-brand-name-business-7-simple-steps/#respond</comments>
		
		<dc:creator><![CDATA[FITT Team]]></dc:creator>
		<pubDate>Fri, 23 Feb 2018 15:38:00 +0000</pubDate>
				<category><![CDATA[FITTskills Refresher]]></category>
		<category><![CDATA[Marketing&Sales]]></category>
		<category><![CDATA[brand awareness]]></category>
		<category><![CDATA[brand management]]></category>
		<category><![CDATA[brand name]]></category>
		<category><![CDATA[branding]]></category>
		<category><![CDATA[corporate image]]></category>
		<category><![CDATA[focus groups]]></category>
		<category><![CDATA[international business translations]]></category>
		<category><![CDATA[logos]]></category>
		<category><![CDATA[trademark]]></category>
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					<description><![CDATA[<p>A brand identity is how an organization wants its name, communication style, logo or mark, and other visual elements to be perceived by consumers. The...</p>
<p>The post <a href="https://tradeready.ca/2018/topics/marketingsales/develop-perfect-brand-name-business-7-simple-steps/">Develop the perfect brand name for your business with these 7 simple steps</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img fetchpriority="high" decoding="async" class="aligncenter size-full wp-image-25766" src="https://tradeready.ca/wp-content/uploads/2018/02/brand-name-development-7-steps.jpg" alt="brand name development 7 steps" width="1000" height="667" srcset="https://tradeready.ca/wp-content/uploads/2018/02/brand-name-development-7-steps.jpg 1000w, https://tradeready.ca/wp-content/uploads/2018/02/brand-name-development-7-steps-300x200.jpg 300w, https://tradeready.ca/wp-content/uploads/2018/02/brand-name-development-7-steps-768x512.jpg 768w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" />A brand identity is how an organization wants its name, <a href="https://tradeready.ca/2015/fittskills-refresher/win-new-customers-worldwide-tailoring-communications-promotions-new-markets/">communication style</a>, logo or mark, and other visual elements to be perceived by consumers. The components of the brand are created by the organization and as a result, brand identity reflects the way an organization wants consumers to perceive its brands. It does not necessarily reflect how the brand is actually perceived by current and potential customers.</p>
<p>The brand identity should:</p>
<ul>
<li>Meet the purpose and objectives of the organization.</li>
<li>Meet the needs of the target market for the brand.</li>
<li>Define key brand characteristics to be communicated.</li>
<li>Highlight the benefits of the products or services associated with the brand.</li>
</ul>
<p>Some organizations start this process by completing a creative brief with details such as the <a href="https://tradeready.ca/2016/global_trade_tales/let-visionary-business-leaders-guide-us-global-sustainability/">organization’s vision</a>, its target audience, the objectives of the brand identity and its key thought or idea. Some marketers use mood boards in addition to creative briefs. A mood board is a collection of images, materials and text that depict the brand concept. These tools help them define the brand identity and adjust it for new markets, if needed. Find examples of these<a href="https://maze.co/blog/mood-board-examples/"> online.</a></p>
<p><strong><em>Want to learn more about how to appeal to the values and preferences of the target market by developing a strong international brand? Check out the FITTskills</em></strong><strong><em><a href="https://fittfortrade.com/international-sales-marketing"> International Sales &amp; Marketing online course. </a></em><a href="https://fittfortrade.com/international-sales-marketing"><img decoding="async" class="alignnone wp-image-38200 size-full" src="https://tradeready.ca/wp-content/uploads/2022/06/FITTtradeReadyBannersISM.png" alt="International sales and marketing online course" width="1500" height="535" srcset="https://tradeready.ca/wp-content/uploads/2022/06/FITTtradeReadyBannersISM.png 1500w, https://tradeready.ca/wp-content/uploads/2022/06/FITTtradeReadyBannersISM-300x107.png 300w, https://tradeready.ca/wp-content/uploads/2022/06/FITTtradeReadyBannersISM-1024x365.png 1024w, https://tradeready.ca/wp-content/uploads/2022/06/FITTtradeReadyBannersISM-768x274.png 768w, https://tradeready.ca/wp-content/uploads/2022/06/FITTtradeReadyBannersISM-1200x428.png 1200w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></a></strong></p>
<h3>Stand out from the crowd with a memorable brand name</h3>
<p>The brand name provides potential international customers with information about the service or product and can help them form an <a href="https://tradeready.ca/2017/topics/market-entry-strategies/3-easy-ways-improve-businesss-first-impression-new-market/">immediate impression</a> about the organization. Carefully selected brand names distinguish an organization’s service or product from a competitor&#8217;s. Also, it can send out a strong message about the organization’s marketing position or corporate personality.</p>
<p>Ideally, a brand name should be:</p>
<ul>
<li>Short and simple</li>
<li>Easy to spell, pronounce and remember</li>
<li>Pronounceable in only one way</li>
<li>Indicative of the benefits of the product or service</li>
<li>Easy to adapt to packaging and labelling requirements or to any form of advertising</li>
<li>Non-offensive or negative</li>
<li>Unlikely to become dated</li>
<li>Legally available for use</li>
</ul>
<p>International organizations take a variety of approaches to finding the right brand name. One approach is to simply invent a new word. Take Kodak for instance. Invented by founder George Eastman, the name Kodak (a word without a meaning) was deemed to be easy to pronounce and was non-offensive in the organization’s target markets.</p>
<p>Another strategy is to use a name that can be <a href="https://tradeready.ca/2017/topics/marketingsales/5-steps-translation-equivalency/">easily translated</a> into different languages, such as Mr. Clean. Around the world, the iconic Mr. Clean character is known as <em>Maestro Limpio </em>(Mexico), <em>Monsieur Propre </em>(France) and many others.</p>
<p>The stakeholders involved in selecting the international brand name would benefit from the insights and guidance of individuals who are fluent in the international market’s <a href="https://tradeready.ca/2017/topics/market-entry-strategies/short-4-step-guide-cultural-fluency-exporters/">language and culture</a>. Found below is a list of the typical ways to select a brand name.</p>
<p>Similarly, these processes could be used to select an appropriate international logo, slogan, colours, numbers and imagery.</p>
<h3>1. Research brand names in use</h3>
<p>Determine the brand names currently in use in the target foreign market then evaluate their effectiveness.</p>
<h3>2. Identify three to five product or service characteristics</h3>
<p>Determine how the product <a href="https://tradeready.ca/2017/topics/researchdevelopment/turning-ideas-global-products-services/">or service</a> should be represented to the target market. Then pinpoint the traits of the product or service that will distinguish it from competitors which will help convince consumers to purchase it over the competition.</p>
<h3>3. Identify three to five organizational characteristics</h3>
<p>Determine how the organizations represented to the target market. Identify the personality traits of the organization (e.g. efficient, unique and supportive) that would resonate with the target audience.</p>
<h3>4. Create buzz words</h3>
<p>Create a list of all the words and phrases associated with the characteristic or personality traits from steps two and three. Also, make sure the words and phrases on the list correspond with the offering if you want to incorporate that into the name.</p>
<h3>5. Envision the brand name</h3>
<p>Consider how the list of words and phrases generated would look if featured on a billboard sign or on the product’s <a href="https://tradeready.ca/2018/topics/import-export-trade-management/6-ways-make-global-business-greener/">packaging</a>. Include possible graphic images and print typefaces for enhancing the appearance of these phrases. It might help to consider how these names would sound when spoken. Throughout this process, it will become easier to reduce the list of words and phrases down to only the most effective and captivating.</p>
<h3>6. Test possible brand names</h3>
<p>Once reduced to 10-15 names, test potential customers&#8217; reactions through focus groups or surveys.</p>
<h3>7. Check for availability of use</h3>
<p>Last but not least, check whether the remaining brand names are available for use via trademark search. For a fee, advertising or marketing firms, or certain attorneys, can conduct this type of research. Another option is to submit a formal request for a <a href="https://tradeready.ca/2016/trade-takeaways/vulnerable-protect-ip-companys-rights-multiple-international-markets/">trademark</a> or service mark and wait to see whether it is approved.</p>
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This article is an excerpt from the <strong>FITTskills International Sales &amp; Marketing course</strong>. Market and sell your goods or services effectively, anywhere in the world.</p>
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<p>The post <a href="https://tradeready.ca/2018/topics/marketingsales/develop-perfect-brand-name-business-7-simple-steps/">Develop the perfect brand name for your business with these 7 simple steps</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
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