Naming as one of the most important elements of brand management

Kadyrov Chechen State University, Department of Regional Economy Management and Economic Security, 364024, Grozny, Sheripova str., 32, Russia

^* Corresponding author: musa.e.1992@mail.ru

Abstract

The article examines naming as one of the key elements of brand management, its role, and its meaning. This study addresses the most pressing problems for entrepreneurs during the creation of brand names. Also, the main negative consequences of choosing the wrong name are analyzed. The article discusses the most commonly used methods of generating names, examines the history of its choice by large companies (successful and negative experience). The process of developing the name is represented. The main approaches and tools for the names forming and classification of naming are considered and analyzed. The name plays an important role in the development of the brand. Besides, it is the first thing that draws attention to the brand and one of the key factors, which customers will eventually memorize about the product.