The greenest greenfield tool for creating a name you can own.
The third naming strategy healthcare companies are using to beat global competition is easily the most open-ended. It has the further benefit of offering maximum flexibility while eliminating many obstacles to securing trademark protection. There are tradeoffs, of course, but you may find that they’re well worth the effort:
Strategy #3: Make something up (seriously)
No rule of marketing says you can’t completely make up a brand-new name from fresh, whole cloth. And even if such a rule existed, there would be many great reasons to break it.
First, the chance someone else will make up the exact same word and trademark it before you do is much lower than being beaten to the punch by using the other two strategies previously described (you can read about them here and here if you missed either of the last two weeks).
Second, and just as valuable, is that your name can mean anything you want it to mean. You’ll probably have to spend a bit more to explain exactly what that is than you would with the “appropriation” strategy we discussed last week, which has more leeway to imply traits, but you also have the advantage of a completely blank canvas when creating your new brand persona. You get to start from scratch, with all the challenges and benefits that come with that freedom.
Short on time but want to learn more about the strategies that create successful healthcare names? Spend just a few minutes with our free parathink briefing: Names That Sell Global Healthcare Brands: How to create distinctive brand names that drive customer preference, sales and loyalty. Click here to get it now!
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