Week 4 reading

Reading

1. How companies name new products (http://www.slate.com/blogs/the_eye/2014/04/10/how_companies_name_their_products_and_brands_99_invisible_by_roman_mars.html) – listen to podcast and read article.

2.  Retailers use 5 senses to appeal to consumers (http://www.azcentral.com/story/money/business/consumer/2015/04/24/retailers-use-senses-appeal-customers/26337411/)

Questions

1.  What is the role of naming companies?

2.  What is an example of a store that you think does a good job tapping into the 5 senses.

Reading Discussion

What is the role of naming companies?

            Naming companies plays various roles in the corporate sector. One of the purposes of providing businesses with names is for legal reasons. The viewpoint is based on the fact that the legal decisions made by enterprises are based on their names. For instance, financial institutions give loans to specific business names (Murray, 2018). At the same time, firms acquire patent rights for the goods and services under their names.