Clinic #4: HOW TO GENERATE THE BEST BRANDNAME

Perhaps one of the first and most important decisions to be made by a
business, foreign or local, big or small, is choosing the most appropriate Brand
Name/s for its portfolio of products and range of services. Consumers don’t
just buy products or services. They buy brands they can trust and that resonate
with them because the brand touches the right nerve, so consumers develop a
strong emotional bond and close affinity with the brand, so it gains traction in
the marketplace. Branding enhances the value of any product because it
immediately sets itself apart from the crowd by offering a unique brand identity
and benefit promise to consumers. Otherwise, a brandless product becomes a
mere commodity, and is treated as such where the only factor for the purchase
decision is the lowest price. Willy Arcilla even believes that ultimately, “the
value of a business lies in the value of the brand”. In this clinic, he teaches the
principles of branding for businesses large and small, borne out of his
experience from managing and growing dozens of billion peso or dollar brands
as well as coining brand names for hundreds of MSMEs. Branding Creates
Wealth. Indeed, Brand Names outlive us, so companies and businessmen
must nourish and strengthen their brands by investing in them and growing
them. But first of all, they must select the best name to “christen” their brand.