Beware the Pitfalls of a Company Naming Contest

Need a new company name or new product name quickly on a small or non-existent budget? Many business owners and non-profits believe the hands-down answer to that dilemma is a naming contest.

In some instances, a naming contest generates so many brilliant entries that it’s hard to choose the best one. Sometimes, however, the contest leads to an embarrassing disaster.

Avoid the pitfalls of naming contests by structuring yours with these pointers in mind.

Naming Contest Pitfall #1: Making competitive information public. To facilitate on-target names, you must provide strategic information about your company or product – how it differs from the competition. Are you certain that you want to put on the public record the advantages and disadvantages of your offering vis-

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