Names should also connect to reality, conveying something real about the product. What's more, product names should be easily understood, and they should not have any negative connotations. There are also approaches to avoid when naming a product. People seek Marcus Welby, not Darth Vader. Expecting too much too soon.
Brands have to be introduced, and playing off existing name strength is a great starting point.
Not telling someone what the product does through the name. The name and tag line should clearly communicate the product or service to the consumer. Forgetting about merchandising extensions. If the answer to these questions is maybe, then keep looking. Not researching the field.