Most companies do not hesitate to invest time and resources in product development, yet they often shortchange verbal branding efforts, based on the false assumption that "it doesn't matter what the name says, it just has to be catchy." Alas, possessing a memorable name does not necessarily equal being well understood and properly appreciated.
One lesson to be drawn from the early demise of many promising dotcom companies is that quickly achieving high name recognition is not the same as possessing a meaningful brand that can go the distance. For every Yahoo still trading on a strong brand image, a host of companies with equally "catchy" names have disappeared into the dotcom abyss.
Giving undue weight to the catchiness factor, at the expense of your strategic purpose, means important branding and marketing opportunities will be lost. A catchy name or tagline can indeed serve to get the attention of your target audience, but once their attention is secured, a successful brand-building effort will require verbal branding solutions that clearly and consistently communicate the right message to all audiences.
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