Naming your Space Business; competitor name analysis.
SpaceXThe world’s most prominent commercial spaceflight company doesn’t have the most creative name in the world but it certainly tells potential clients what it deals with. |
Made in SpaceThe name provides a clever and subtle hint about what the company does. The purpose of Made in Space is to take 3D printers to an orbit over the Earth, making replacement and spare parts for complex structures that will not survive a rocket launch. |
Planetary ResourcesA main goal of Planetary Resources is to use robotic spacecraft in the near future for the purpose of asteroid mining (hence, the extraction of planetary resources). |
BlastOff! CorporationWhile the company didn’t survive, it was quite popular for a while. It focused on space travel and the name is a nod to the takeoff of a spacecraft. |
Final Frontier TechnologiesSpace is often called the final frontier. Final Frontier Technologies is a company that specializes in the manufacturing of space stations. |
Lunar Mission LimitedThe company is the one behind an international endeavor to send a robotic mission to the Moon. The aim of the company is to realize the idea by 2024. |
Deep Space IndustriesThe company specializes in the making of communication platforms, space solar satellites and propellant. Since it deals with space manufacturing, it has a pretty fitting name. |
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Branding Strategy & Naming Terminology
Space is still more or less uncharted territory. The investment required to do space exploration or build equipment in the field limits the competition and makes it impossible for many companies to survive in the long run. Marketing in the area will have to focus on the technical capabilities, the know-how and the innovative approach to space exploration that the respective company plans to adopt.
Business name selection in this field can’t be frivolous. Governmental agencies and other official bodies need some proof of expertise and experience to partner up with a certain enterprise. This is the main reason why a name has to exude professionalism, innovative thinking and a scientific approach.
The best idea is to have a name reflective of the specific field that the company plans to specialize in. “Space” is a rather general concept and there are many potential areas of specialization that a business may want to focus in.
Some relevant advertising terminology includes technology, revolutionary, breakthrough, scientific, space age, space exploration, overcoming barriers, going where nobody has gone before, innovative technology, travel, research, training and safety.
Demographic & Interests
Space companies most often work with governmental agencies and large businesses. A few of them like SpaceX offer high-end, luxury space travel experiences to wealthy clients (think millionaires). The nature of work and the expenses linked to space exploration/technological developments limit the scope of potential clients that such businesses can work with.
When they’re working with governmental agencies, space companies often have to make a pitch or meet a set of rather strict qualification criteria. Thus, market dynamics and economic principles that apply to businesses in other spheres aren’t necessarily applicable to space companies.
Related Business Name Words