August 23, 2007
Company Naming Changes: Choosing a Winning Name
"Often, the choice of a name spells out the destiny of a company or a brand," says Keren Argaman of The Globes, Israel's leading business journal.
I couldn't agree more.
In our proprietary 2006 Company Naming Changes report, we analyzed the major reasons for a company name change... there were nine of them. A company that goes so far as to actually change its name is moving in a new direction, sending a signal out to its stakeholders that its identity has changed and the world should take note.
But choosing a new name can be risky, and the possible meanings associated with each name should be well researched, including semantics, pronunciation, cultural context, and the colloquial language of the location.
For instance, Korean Kia importers became concerned sales would be affected by the resemblance between the brand name Kia and the word Ki, which means vomit in Hebrew. They decided to change the name so that it would be pronounced as Kaya.
During my interview with The Globes, I indicated to the reporter that there are many other instances of naming faux pas.
TrackBack URL for this entry: