When a new product has been developed, the producer will usually give it a brand name. A brand name is a term, symbol or design that distinguishes one seller's product from its competitors. The strategic considerations for brand naming are as follows:
Brand names can be protected in most countries by registration, but there is some protection for brands in that it is illegal to try to ‘pass off’ a product as being a branded one when it is not. For example, using a very similar brand name to a famous brand, or even using similar package design, could be regarded as passing off. This is a civil offence, not a criminal one, so it is up to the offended brand owner to take legal action. Ries suggests that brand names should have some, or all, of the following characteristics:
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