Thank you for the invitation. I do not work in the private sector. However, from my experience, I consider that the company name comes first, counting more than the brand name. A pertinent example is when I go to buy a plastic cup of coffee.
Thank you for the invitation. I do not work in the private sector. However, from my experience, I consider that the company name comes first, counting more than the brand name. A pertinent example is when I go to buy a plastic cup of coffee.
Which one is coming first: Your business name Or your Brand?
Think it depends on the following factors:
Which is more popular in the marketplace - if the business is very successful, one will put their business name first. But when the brand name is more popular (note: some business names are not the same as the brand names), then one will put the brand name first.
Who is the target audience - if the target audience is customer, supplier etc., one will use either one depending which is more popular (see above point #1). If the target audience is government agencies, registrar of companies, legal parties etc., business name is being used / more important.
How competitors are positioning themselves - if well known competitors / market leaders are using business name or brand name, one might follow accordingly so that his / her company is easily recognizable even though is not market leader.
Company name is to be registered first. The pitfall is coming, if one wants to use the company's name as a brand / trademark as well. It may turn out that the new company name is already registered as someone's else trademark.
Therefore, a company name is to be chosen only after checking out as to whether its possible trademark is available. So is related to an Internet domain name. It has to be checked and registered if available ahead of registering the company name.
As far as "But what is more important to the consumer or customer?" is concerned, out of the company name, trademark, and the company's Internet domain registration - the most important is choosing a new company name. It affects all of them.
Mistakes in that are almost irreversible, and are quite costly and painful. There are numerous suggestions to be made simultaneously, while making a final decision. The founder(s) have the decisive word, but it would be wise to consult with experienced entrepreneurs anyways.
This seems like the question of Branded House or House or Brands.
Now this is strongly depending on the market and the end customer segments. If you are in a small market like life science a branded house is preferable. If you sell coffee or any other commodity a house of brands would be better. This has a relation to the amount of contacts a customers get per time intervall. In life science they might by one machine every 4 years, where I buy coffee every week.
I think both the business name and brand of an organization when well tailored, wins its successes in term of patronage for their goods and services from clients resulting in the maximization of sales. However, which one should be prioritized? I am of the view that building the brand of the company should always come first. This is because clients are first attracted to a particular brand before they inquire of the company that produces it. In fact, it is the brand that rather builds the image of a business name.
Eventually, the business name would precede the brand when the brand has performed its duty of projecting the business name. It is sad that many companies after earning the fame of their business names end up destroying their brand by compromising on the quality of their products and services they offer to their trusted clients. This usually ends up destroying the hard earned image of a business.
Therefore, while building the business name, it is also meritorious to do it simultaneously with the brand at all times while soliciting periodically via market surveys, ways of improving/enhancing the products and services rendered. This would ensure the maintenance of the business name and brand.