Companies should focus on domain name availability, descriptiveness, trademark strength, originality, length, integrity (the bigger picture of the name and brand), and lastly, the name's tested market appeal.
We don't ever want to find ourselves naming exclusively reaching for one particular aspect of a name, as there is a bigger picture to be considered.
Being integral: There is a major plus when a name can have some kind of double meaning, there is leverage to that even if only some notice or understand the double meaning, from the whimsy of the double entendre. For example, I am currently involved in Lays® potato chip brand creation contest. I picked Mediterranean Sea Salt as one of my names for a plain potatoe chip, as it has a kind of play on words aspect to it. This tautological quality of naming is often the hardest to obtain, but it is that quality that can tickle a customer with delight, and it is that quality that makes a brand seem balanced, or like it "just makes sense".
I have named many products I have designed over the years, and I like when the name I create can evoke a feel for what the product is related to before you even see so much as a logo. Names of my products like Slapstick, Blahbradoodle, Eiffel, Sharephones, Swfit, Ecrobrella, are good case studies in combining that kind of whimsy with evoking an idea.
Put another way, I tell my clients over and over that good story telling...
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...focus group, poll your e-mail list, or use research websites to find out which names people like the best, and why. Ask people with no stake in the brand what various names evoke in their mind.
Tie up loose ends: by securing your respective domain name variations, trademark protection, making sure the name doesn't mean something unintended (think how the Nova by Chevrolet inadvertently meant "No Go" in Spanish markets.
How will the domain name look? "Always make sure people can type your business name into the address bar and find you easily. A perfect example is the Women's Expo. The URL is www.womensexpo.com - To many people that reads "Women Sex Po". Not quite what the event is about!" says marketing expert Desiree Wolfe.
Lastly, put out Google alerts for your name and use social media to track your brand mentions and adjust to brand interpretations on the fly.
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