Still from Veronica Napoles in the same book, talking about changing the company name.
Reasons for A Name Change:
- Too long
- Out of Date
- Innapropriate for multinational growth
- Geographically restrictive
- Not Memorable
- opportunities presented by mergers or aquisitions
- Bad for Public Relations
Before the desicion to create a new name is made:
1. Establish objective and criteria.
2. Weigh the assets and liability of the presents name.
3. Consider long-range goals.
4. Consider the target market.
Evaluate the name:
1. is the name memorable, unique, and distinctive?
2. Does it describe the product, service, or company?
3. Is it easy to remember? is it catchy or a play on words?
4. Will it create a favorable impression on the target market?
5. does it have strong promotional capacity? Product lineextensioan? possibilities for graphic extension?