Successful product and company names may appear to have been created by magic, but it is possible to develop names that are dynamic, effective and fully leverage a brand's potential if you have the right process in place. A process that is clear, insightful, logical and focused will lead to a name and tagline that are powerful components of your brand strategy, and pave the way for buy-in throughout your organization. Before you begin, it is essential to decide what you want your new product or company name to do for you. To make that decision, you need to understand the possibilities. A name can:

• achieve separation from your competitors
• demonstrate to the world that you are different
• reinforce a unique positioning platform
• create positive and lasting engagement with your audience
• be unforgettable
• propel itself through the world on its own, becoming a no-cost, self-sustaining PR vehicle
• provide a deep well of marketing and advertising images
• be the genesis of a brand that rises above the goods and services you provide
• completely dominate a category