Product naming has goal name
They strategically distinguish the product from its competitors by conveying its unique positioning
They hold appeal for the product's target audience
They imply or evoke a salient brand attribute, quality or benefit.
They are available for legal protection and "trademark".
They allow companies to bond with their customers to create loyalty.
They have a symbolic association that fortifies the image of a company or a product to the consumers.
They help motivate customers to buy the product.
They can be legally acquired and developed.Neologism
A completely new made-up word: Kodak, Verizon, Mimex.