I am trying to find the pricing that consulting firms charge
for determining the name of a new company that will become part of the
company's overall brand.  What is the range of pricing?  In this case,
I am not thinking of the 'logo', but the name of the company itself.

I know this is really an art and can be quite pricey, especially if
you are looking to develop a name that meets the following criteria:

1. Is unique
2. Drives the core value/marketing message of the company
3. Is easily understood and spelled
4. Is legally defensible as a trademark (i.e., can hold up to a legal
challenge under trademark law)
5. Can be used as an 'umbrella' name for a series of similar companies
6. Has an available URL that is the same as the company name

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Request for Question Clarification by serenata-ga on 01 Jun 2004 00:10 PDT

Hi PRPro ~

Your question regarding the range of pricing is easy enough, as there
are branding "pros" or "gurus" such as Rob Frankel, Dan Janal, Martin
Lindstrom, or firms such as Ogilvy & Mather, etc., whose consulting
fees range from the tens of thousands of dollars into the hundreds of
thousands.

Therefore, answering your question as it is asked - that is, a price
range for a branding consultant - becomes easy: $10,000 to $100,000 or
more.

However, there is so much more to be considered in branding than the
six criteria you listed, so it would help to determine what else you
might be looking for.

While a unique name is important (and certainly it should be something
memorable), branding includes PR, marketing, testing, demographics,
psychographics, positioning, and so many other factors that it helps
to have a starting point from which to give you a good answer for the
fee you offer.

A strong, solid brand can overcome marketing mistakes (remember "new
Coke" ?) or what could be marketing disasters (Tylenol), and that
involves much more (obviously) than a mere name.

So if you're looking merely for a price range for consulting, the
prices listed above are representative. And that would be for getting
started - keeping the name out there would take a lot more in
marketing and consultation to keep the brand alive and positive.

You can put some practices into play yourself by purchasing any of the
books about the basics of 'branding' by any of the current gurus for a
lot less than thousands of dollars in consulting fees.

So I will repeat - it helps to know if it's just a price range you
seek, or is there other information you may be seeking as well.

As for who does it best? It depends ... think about the brands you
know, Coke, IBM, Ford, etc., they all have different people and/or
firms they work with constantly to increase brand awareness and then
keep a favorable spin on that brand.

And rest assured many of those fees are in the 6 and 7 figures.

Thanks,
Serenata

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Clarification of Question by prpro-ga on 01 Jun 2004 05:53 PDT

Thanks, Serenata!  I am looking for the price range for consulting as
provided by a smaller firm or individual, where they determine the
company's name only and not the follow-on activities to drive and
reinforce the brand, such as marketing, PR, et al.  Just the 'starting
point': the cost of determining the name, not the cost of keeping it
out there and helping it achieve greater recognition.  If possible, I
wouild be interested in knowing (1) what the firms charge for this
service and (2) what the clients get for this type of work.  Thanks!

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Request for Question Clarification by serenata-ga on 01 Jun 2004 07:33 PDT

Hi again, PR Pro ~

Interestingly enough, I have found information about the steps
involved in creating a name and brand for a business, and what this
provides to the customers who use the services of naming/branding
consultants; but none of them will list a fee, a ballpark fee, or even
a range of what the fees might be.

Most invite you to contact them and/or state that their fees are based
on a number of factors such as how much relevant information you can
supply, the amount of research required, whether there is a domain
name involved, how quickly you need the project completed, and which
legal services (if any) you need.

Most of the firms and/or individuals will give you a potential list
with varying degrees of recommendations concerning each and most
retain the use of the names you don't choose, although they do not
charge anything extra for any name you may choose.

Looking at over 20 consulting firms which help in developing a
suitable name, not one listed a fee for the service without giving
enough information to offer you a quote for their services.

This practice is probably standard. I, too, am reluctant to give a
quote to new customers for my own services, website design or
marketing/SEO services, without having enough information to offer a
fair quote for services without gouging the customer or leaving myself
working for pennies an hour.

If that information regarding the process and what you get and/or
don't get for the services is suitable, I can post that information as
an answer.

Thanks,
Serenata

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Clarification of Question by prpro-ga on 01 Jun 2004 08:42 PDT

I think that information will be suitable; dores it include a list of
things they do/recommend, including domain name research, added costs
for how quickly it needs to be done, et al?  Can you also provide a
ballpark sense of what you think the fees may be based onwhat you
read?