"When you think about it, nothing is used more often, or for a longer period of time, than either their company name or their brand name. It sticks, for better or for worse," Cowan said. It's also the one thing your competitor can't take away from you in the end."
Via CBS: CBS Sunday Morning Interviews David Placek. He's known as a "namer." His Sausalito-based company, Lexicon, has named some of the biggest products around. "It's not really about a lot of names, it really is about solving problems." Yet the word "domain' or the role it plays is never addressed!
Placek came up with "Outback" for Subaru, "On*Star" for General Motors, "Pentium" for Intel, and the bottled water Dasani for Coca-Cola. He charges as much as $100,000 to name a new product -- and it's not as easy as Don Draper makes it look in "Mad Men," where he dubbed the slide projector wheel "the Carousel."
But sometimes the best names have nothing to do with REAL words at all, like the Swiffer. Procter and Gamble had no idea what to call its dust rag at the end of a stick.
"We were quick to say, 'Well, this isn't a mop, this is something new, right?'" said Placek.
But how did it improve on the venerable "mop"?
"We began looking at words around cleaning that were very efficient and effective, and so you have this notion of swiping and sweeping. And we got to a certain point to swift, right? Then we took the'T' off, then we added an 'F,' and then we made it more verbal. And there's Swiffer."
"Which meant nothing beforehand -- it's a completely made-up word," said Cowan.
The only truth in the naming business seems to be that every product needs one, but no two can be alike.
With only 26 letters in the alphabet, namers have their work cut out.
Cowan asked, "You don't worry you're ever going to run out of names?"
To see the interview click the right corner to go full screen or view it on the source page