Fremont: Harry went to an electronics shop in the U.K. to buy a laptop. The shopkeeper asked him whether he want to buy a Macbook or a laptop. Such is the branding created by an American electronics company Apple in the electronics market that it has set apart the Macbook from other laptops in the rest of the world too.  A great brand influences buying decision, creates trust and can command a premium price. This is the kind of impression the brand has created in your mind that even if you don’t have the potential to own one, you become loyal towards the brand and an advocate for it too. A specific promise of value that a product or service makes to a customer is the brand value of the company. Sounds simple, but very intricate. Below mentioned are few such points that will help the startups to create great brand value in the market and become the dream brand of several customers.

It Is The Name Game

Great branding starts with a great name. As a new business, entrepreneurs face many difficult decisions before they open up shop. One of them is selecting a good name. Few entrepreneurs make the mistake of trying to articulate their brand before they have fully defined it, often choosing a name without considering differentiation, longevity, phonetics and trademark-ability. While the brand name is not just a brand, it is a core signal that consumers directly equate to the brand.

A great name should indicate what it stands for and the audience should be able to easily remember and pronounce it. Before naming the startup, the entrepreneur should know the key words that people will use to search for his kind of product. A research to find it out will help to create a distinctive brand image of the company. Trendy or faddish name will look chic for very short duration. No one will want his company’s name to go off from the mind of the people and the market within 1 or 2 years even though if your product is great.