The importance of being a Brand Name..

Would you in your sanest mind
a) Set up R&D worth at least 1 Bn
b) Create a product and spend around 50 Lakhs/year in marketing
and yet name your product literally "UNWANTED" ??

Well, that was my first thought when i came across this :-
But a few moments later it didn't seem such a bad idea for an emergency contraceptive pill; it conveys in a single word what the medicine is all about; and does not hide behind almost obtrusive first-cousin medical names... (Though i would still go with I-pill as a cooler name)

So, what is the importance of having a brand-name ?? well lets talk about the xerox, nike, google and FedEx of the world how their naming has risen beyond just a brand to signify an emotion... in the case of Google it signifies single source compendium; FedEx stands for delivery at the right place and right time; Nike stands for everything cool while Xerox has almost become a key-word with which any copier machine is called irrespective of the brand.

In my observations I have come across the following types of Brand Names :-
1) Patriachal "Egotist" Brand Names :- These are products who get their names are derived upon the names of their designers/financiers. Baskin & Robbins is a very good example; and so are the hundred odd Colleges which adorn the skyline of any Indian city (SPJIMR also being named after late Shriyans Prasad) or be it those now burgeoning Vasanth & Co.
These typical brand names have been the staple diet of the germans.. in fact SAP is the only non-confirmist to this rule.
The characteristics of these products would be that they would have essentially blossmed from a small-scale catering to a niche audience to a multi-million $ business.

2) Direct-to-the-point :- Similar to the "Unwanted Example"; you can include my favorite Reader's Digest or Blogspot as prominent examples.
These products would essentially be monopolistic in nature (or would evolve to become monopolistic) and would essentially be the plain vanilla versions.

3) Zany Creative Masterpieces :- Sony, Macintosh, Twitter, Yahoo are just examples of products which have accentunated their value just because of their cool sounding brand-names.
These products have essentially their own Hatke-effect which has not been even thought off... and hence essentially require Cool Names to showcase themselves to the external audience.

4) Misguided Orphans :- In the quest of becoming Option (3) there have evolved at least 100s of these brands who have gone out of the customer radar simply because of their rather un-emotive (or) un-related names. Chief examples would be the ZUNE, Vivaty or car names such as Tiguan (Volkswagen).
Mostly it would be issues with the product that would have caused the down-fall rather than the brand-name. Then it becomes a case of product re-launches ;)

Further reading Seth Godin's DUMB BRANDING STRATEGY