The Psychology of Business Names

Summary

The video offers a step-by-step process for creating meaningful brand names based on linguistic studies. It explains four types of names—descriptive, deviant, associative, and neologistic—and how to choose the right one depending on your goals. The speaker details how specific sounds convey meaning and guides viewers in constructing names using prefixes, suffixes, and sound combinations. The video also covers testing name scalability, availability, and consumer preference, using a behavioral science agency as a case study. A downloadable PDF with detailed steps is available for further guidance.

Takeaways

• 😀 Naming a business requires choosing between different types of names: descriptive, deviant, associative, and neologistic.
• 📊 The type of name you choose depends on your goals, such as scalability or creating a blank slate for branding.
• 💡 Certain sounds in brand names evoke specific emotions or characteristics, like Kiki being sharp and Bouba feeling round.
• 🔠 Combining meaningful prefixes and suffixes can help create invented names that feel significant, even if they are new words.
• 🗣️ Sounds from the front to back of the mouth are perceived as more appealing, making words seem like they are being 'ingested.'
• 🚀 Associative names can be generated through semantic maps of core concepts related to your business, such as blending terms like 'Pinterest' from 'pin' and 'interest.'
• 🌍 When choosing a name, ensure it is easy to spell, pronounce, and scalable across markets while avoiding extreme relevance or irrelevance.
• 🌟 Creative and distinct names work best when they are somewhat relevant but still stand out enough to spark curiosity.
• ✅ Always check for domain availability, legal trademark issues, and potential translation problems before finalizing a name.
• 📧 The process of creating a name involves both personal preference and feedback from potential customers to ensure brand resonance.

Q & A

What are the four types of brand names mentioned in the video?

The four types of brand names mentioned are descriptive, deviant, associative, and neologistic. Descriptive names use real words that are relevant to the product, like General Motors. Deviant names are irrelevant to the product but use real words, like Apple. Associative names are non-words but are relevant, such as Facebook. Neologistic names are completely invented and irrelevant, like Spotify.

Why should businesses avoid choosing descriptive names according to the speaker?

Businesses should avoid choosing descriptive names because they are conceptualized as descriptions in the brain rather than as tangible entities. This makes them less brandable since there is no concrete entity for consumers to associate new ideas with. A name like 'Optimize Behavior' is viewed as a description, whereas a name like 'Optimio' is seen as an actual thing, providing a foothold for branding.

What is the significance of sound symbolism in naming a business?

Sound symbolism is important in naming because certain sounds inherently convey meaning. For example, angular sounds like 'K' in 'Kiki' feel sharp, while rounded sounds like 'B' in 'Bouba' feel round. This can influence the perception of a product, such as 'Brimley' being perceived as a better name for a knife due to the sharp 'I' sound.

How does the speaker suggest generating a neologistic name?

To generate a neologistic name, the speaker suggests starting with a meaningful prefix, combining it with relevant sounds and suffixes. The name should be constructed from sounds that either feel small and portable (group one sounds) or careful and rigorous (group two sounds), based on the branding goal. Using a Latin prefix and a derivational suffix can help create a meaningful invented name.

What role does perceptual fluency play in brand naming?

Perceptual fluency refers to how easily the brain processes certain shapes or sounds. For example, 'K' in 'Kiki' and 'B' in 'Bouba' align with sharp and round shapes, respectively. This ease of recognition influences how well a name fits a product, such as 'Brimley' sounding more suitable for a sharp object like a knife due to its angular sound.

How does the speaker recommend building associative names?

The speaker recommends building associative names by first creating a semantic map of the product, identifying related words, and then using techniques such as blending words (e.g., Pinterest from 'pin' + 'interest'), using prefixes or suffixes, and experimenting with sound patterns to generate relevant yet creative names.

What is a phonaestheme and how is it used in naming?

A phonaestheme is a combination of sounds that is associated with particular meanings, such as 'BR' in words related to brightness (e.g., 'bright', 'brilliance'). These sounds can be used at the beginning of a brand name to set the proper semantic foundation, helping the name to evoke certain associations.

Why are invented names with no inherent meaning sometimes more scalable?

Invented names with no inherent meaning, such as neologistic names, are more scalable because they have no preexisting associations. This allows businesses to build the exact branding and perception they want, making the name adaptable across different markets and industries.

How does the speaker suggest simplifying complex naming processes using technology?

The speaker suggests using tools like Excel with complex formulas to automatically generate all possible combinations of prefixes and suffixes. This simplifies the process of creating neologistic names by producing a large number of potential name ideas, which can then be filtered based on branding goals.

What are some factors to consider when narrowing down a list of potential names?

When narrowing down potential names, consider factors such as domain availability, personal excitement about the name, customer preferences, scalability, ease of spelling and pronunciation, legal availability, and potential issues with translations. The name should also align with the overall brand identity and goals.