Saturday, January 19, 2008
Survey regarding business name
I am in the midst of creating a blog for Gentry. A blog to show customers and interested folks the building process, and the various events that come up that keep it exciting. While doing this, I re-explored the idea of changing our business name. Who would you rather buy a home from? G. R. Burges Co., Inc. or Gentry Homes? We may make Gentry Homes our custom home building division....what do you think? I wonder if the Gentry Homes name will appeal more to women. It is women who Gentry usually ends up selling to.
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13 comments:
T & B Burgess say....good idea! We think Gentry Homes sounds more 21st century and might appeal to both women and men. Great idea!
Gentry Homes has an elegant, classy ring to it. I am sure you are both elegant and classy, so go for it! Karen F.
Without knowing your market it's hard to give an opinion. What sounds good in a brainstorm isn't necessarily important. The key factor is determining what your buying customer wants. If you don't want to spend the time and money to do a market analysis with a branding firm (in my experience about $10-15,000) you might want to do some of your own research.
A small effort of investment on the front end is worth it in the long run. Your name and your brand are extremely important and many people spend too little time doing them right. For simple and quick information you may consider clearly defining your target audience (in writing) and finding businesses who are successfully selling to them. Try to mirror these companies or better yet spend some time with them and pick their brains. I would also strongly recommend articulating a written business plan, or at least a statement that clearly explains what you bring to your target audience. What are the features, advantages, and benefits of doing business with you verses any competitive options? What is the emotional experience of the process and result? Brands are built on emotion, not product or service descriptions.
I'd definitely keep your G.R. Burgess Company as the parent company and any other names could be used as a DBA or subsidiaries. This would also allow you the flexibility to add and remove (organically or through acquisition) different business units, brands, or divisions.
One other thing to consider that's very important: exit strategy. When and how do you want out? Buyers don't typically favor a person's name in the business name because you lose part of the brand when the founder goes away. The name Gentry is probably better than most because it has other meanings, especially one that translates well to an elite brand (with your artistic talent backing up the visuals).
That's my two cents. Good success!
After Wade's 2cents (or $20) comments....what can I say. I'm a man and like the sound of Gentry Homes but don't know how much difference the name would make. It is always good to have an attention grabber and something a little different...which this is, but in the end, it is how do you reach the customer and what can you do for them that counts.
Dad
The main thing is that you have a good mission statement. That seems to count the most in business today. Ha! Gentry Homes sounds good.
Delton
Here's the opinion of a potential first-time homebuyer - and a single woman to boot ...
Gentry Homes sounds nice and appeals to me while G.R.Burgess Company just sounds stuffy and a bit impersonal. I think the word HOMES is important - it not only tells me exactly what you're selling (although "Gentry Homes and Shoes" would definately lure me) but it also appeals to the warm and fuzzy section of my brain, sending me immediately into a daydream about how the house would smell and what colors the walls could be painted - I'm thinking a sunny yellow right now - and imagining times with friends hanging out in the kitchen ... all that from just a name. :-) Elaine, you will understand this but perhaps the guys thinking I'm nuts should follow this link ...
http://marriageresourcecenter.org/videogallery/4/med/VideoWidget8.htm
http://marriageresourcecenter.org/
videogallery/4/med/VideoWidget8.htm
sorry - that link kept getting cut off.
Hey that was worthwhile! Gentry says womens plumbing and wiring are all mixed up....taking it another step further. So, while watching this video and the guy says that men have an empty box, Victoira says, "Oh, we're aware of that one!" I think she gets it!
Thanks everyone for the help!
Janell,
You must be thinking of the old lady who lived in a shoe, had so many children.....
Gentry
It sounds delightful, minus the children part! haha Wait, isn't that what they do in London? They've been living in 'flats' long before that particular style of shoe came back in style over here. But who wants to be sensible? Make mine a wedge-heel-shaped house! (with a staircase, of course)
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