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Having a recognizable brand name is very valuable for a company, as it can lead to higher sales. If consumers have positive associations or feelings about a certain brand, then they'll typically be more likely to buy products in that range than generic products or products from other brands.entley is an example of a brand named after a founder. The brand name for Nintendo WiiÂ® is a completely made up word. Brand name clothing is typically more expensive. Many types of medications have both brand name and generic versions.
1 The brand name is the name given to a medicine by the pharmaceutical company that makes it. This is also called the proprietary name.  The generic or scientific name is the term given to the active ingredient in the medicine that is decided by an expert committee and is understood internationally.