Since time immemorial, the name, the identification, the moniker of someone or something has been the centre of focus to determine & differentiate the discrete from the masses. A good & catchy name can stay in people’s mind, while a not-so-special (say, non-catchy) name might just be considered mediocre or never looked up to. Day by day our attention time span is reducing. This may be considered an evolutionary change (debatable) but having the perfect name is what one should thrive for.
We as human beings have been naming everything & everyone, to identify & add meaning to it. We want the best name for our children, pets, places, objects, etc. as well as the company which we start. There lies an underlying emotion to this, we want the name to be easy, to be remembered, to be spoken of, to be looked up to, etc.
Now, companies spend hefty amount of money in naming their products, services, etc. They do a lot of work before finalizing the name of their product/service, which is what their clients or the people will remember them for. Why wouldn’t they, everyone wants to be remembered, so why not name the product/service in such a way that they can be recalled easily by the masses.
But this isn’t the same every time. People start their firm/companies & name it as per their last name (surname/family name), e.g. Dell Technologies, BYJU’S, etc. Some name it by combining words and making a totally new unique word, e.g. Spotify (spot + identify), Instagram (instant camera + telegram. It has become a trend now to do portmanteau of words & come up with a catchy name. It works 😉
Some try to give an abstract meaning to the name they come up with, like, Apple, Kraken, etc. Surprisingly, these names also work & also create a good impression in the minds of the customers. Such abstract company names are doing well & I’m sure almost everyone who has ever used a cellphone/mobile is aware of Apple.