Multiple Brands, Similar Names and the Trap of Copying a Famous Brand
You can have several names for branding your various products, if needed and wanted.
Large companies have multiple brands. They even try to have several brands in terms of the market in each area.
Brand multiplicity is a strategy.
The brands Toyota and Lexus both belong to the same company. The company Toyota has designed the Lexus cars in competition with other brands such as Mercedes-Benz. Currently, this company has bought several other brands for the markets in which it intends to maneuver.
If you work in an industry where there are similar names to your brand’s name, you need to find some ways to promote your brand name or logo. For example, you can design your company’s system in such a way that everybody and everything, ranging from the employees to all the resources and tools in the company, help promote the brand. For instance, the employees’ uniforms and participation in their social networks should be in the direction of introducing the brand. When the employees proudly introduce themselves in LinkedIn as members of the company, they have played well into your banding goals.
Don’t choose a name similar to a brand known to all the people in the world.
Presuming that they are clever, some people select a name that sounds like a famous brand but has a different spelling. You can be sure that no one turns into a brand using this method. With that method, they will only remain a copy of a brand.
A brand which has copied its name from famous brands may have highquality products, nonetheless. Still, it will always remain as a fake and phony brand and it will be unable to gain trust from the target market; at the same time, the registered well-known brands can file a lawsuit against you and they have the power to close your business.