We are often asked if brand names really matter and about the importance of a brand name.
The answer is the difference between a "gravitationally completely collapsed object" and a "black hole".
Why Brand Names Matter
While speaking at a small scientific conference in 1969, Cambridge physicist Sir Roger Penrose announced his discovery of what he called a "gravitationally completely collapsed object."
The world yawned.
Months later, he changed the name of his discovery to "black hole" and the news of his discovery raced around the world.
Today, the term black hole is a part of the world's working vocabulary.
In 1929 Henry Luce, editor and publisher of Time, created a new business magazine, Modern Business.
Then the stock market crashed.
The following year Luce renamed the magazine Fortune.
The original name said everything and nothing. The new name was a single word, just like Time. It zeroed in on ups and downs, automatically capturing excitement and--magically--steering readers' thoughts to fortunes waiting to be made rather than to fortunes that had already been made.