Q:

We are trying to rename our company. Some of the committee thinks the name should describe our products and some think it should be more hip and cool. Who is right?

A:

Naming a company is almost as difficult as naming your children... sometimes harder. There are three main types of names, Generic (GS 4000), Descriptive (North Texas Carpet Cleaning Services) and Arbitrary (Xeania). Companies have been successful using any of the three.

A good name, however, should accomplish certain goals. Is the name:
Appropriate; Appealing; Distinctive; Unambiguous; and Available?

So let me simplify. Arbitrary all the way - hip and cool. Let your tag line/slogan tell people what you do. A name needs to be memerable.