The main advantage of having the company and the product/service sharing the same name is that it is much more cost effective to build the brand in the early stages. You also need to consider what relationship any future products are going to have with your first (if any) - do they complement, compete, same markets/customers, etc.

Generally, you will be better off by keeping the names the same. Think about how you pitch your company vs the product - is it a different story? Which name do you want people to remember? Think about where the names would live - business cards, urls, websites, app (icon), signage, etc.

There are countless successful examples of different brand naming structures that work - there is no "best" way. Keep it simple.

We wrote a book on naming and identity design a few years back. Happy to send you the first chapter pdf to see if it can help.

Dann Ilicic
WOW Branding

If you're always going to be a one-product solution then you can use the same name. But if you are ever planning on releasing more products, then that may not be the best route.

When they are really the same thing, sure. But look at Apple: Mac, iMac, iPod, iPad, iPhone, Apple Watch (don't really like that one). Do you stand for one thing and one thing only and is that your app or your product -- and are you quite sure that's all you'll ever be? Works for Facebook. But if you're a product company and you've got a ton of different SKUs and require subbrands because they're in different categories, then no. That's why Procter & Gamble and other huge CPG firms have corporate names, but each of their products or product families get names like Tide.

If you expect to be acquired before you ever reach a second product/app or if your first one is going to be that successful, why confuse people? It's harder to remember 2 names than it is to remember 1.

Free free to set up a call if you'd like to explore this further.

Best of luck,
Steven

It's certainly not standard practice for large companies. General Motors manufactures cars with the Chevrolet, GMC, Cadillac, and Buick marques. Procter & Gamble's brand family includes Tide detergent, Oral-B dental-hygiene products, and Luvs diapers. Google uses its company name as a modifier for its products: Google Maps, Google Plus, Google Books, and so on.
The Joie de Vivre hotel group gives each property a distinctive name linked to its location and personality -- Rex, Epiphany, Waterfront, et al.

Tech examples? When it was founded in 1982, AutoDesk made a single product, which it could have named AutoDesk--but didn't. Instead, it named it AutoCAD (for computer-aided design). Freed from the corporate name, the growing family of products was able to assume distinct brand identities: Revit for the construction industry, Moldflow for manufacturing, Maya and Mudbox for media and entertainment.

On the other hand, as Steven Mason points out, the combined corporate-product name Facebook seems to be working just fine.

Short answer: there is no "standard practice" but rather multiple naming strategies. To determine which one is best for your company, you'll need to consider your long-range goals and your commitment to branding and marketing.

Since you're considering a diversified product line in the mid-term future, the first question to ask is how you'd ideally brand those other offerings.

Under your current brand name? Or should their identity be separate and more distinct?

Your decision depends on those future offerings. What's best for them? There is no general rule about what a company should do. Look to your other products / projects / services.

Happy to give specific recommendations if you'd like to set up a call and share specific information.

To answer your question “Is it 'standard practice' for the company and app name to be the same?”, there is no standard practice per se. It will all depend on your strategy and audience’ needs.

And regarding product and company name being the same, there are many good answers already but think of it as “House of Brands” or “Branded House.”

I believe the product naming follows certain kinds of rules. The name of your product should also instil confidence in your brand. If all of your product names sound like iPhone, iPad, iTunes, and you suddenly launch a new music service called “Streamy,” it’s going to sound random and could potentially cause your customers to lose trust in the brand. Lastly, your product name should help your brand to generate buzz.
1. Be Descriptive
The first place most people start when they must name a product is to simply create a name that describes what the product does.

2. Use Real Words with a Twist
Words do not have to be used literally in a product name.

3. Make up a Word
One way to ensure your product name is unique is to make up a word.

4. Change Spellings
Products like Trix, Kix, Fantastik, and Liquid-Plumr use real words that are misspelled.

5. Tweak and Blend Words
When a single word or a compound word will not do, you can tweak and blend words to create a brand or product name.

6. Create an Acronym or Use Initials or Numbers
Therefore, you need to exercise caution when you use an acronym or initials in your product name. However, many companies have achieved great success in launching products with names that use numbers and letters. You can use a verb as your product name, or you can turn a word used in your product name into a verb.

7. Use a Verb
The Swiffer product name is also used as a verb sometimes. As you can see, it is okay to get creative when you name a product. If consumers are willing to accept the message and promise that your product name communicates, then you are on the path to success. Next, we will cover some best practices for using quantitative research to test product names along with the value of your target audience.

8. Best Practices for Designing a Concept Test
A product naming survey offers deep insight into which names consumers respond most positively to. Begin with a detailed description of your product, along with an image that gives respondents a clear picture of the look and feel of your product.

9. Naming Questions
And be sure to ask for input from your respondents to see if they have any additional suggestions for names you had not thought of, based on their perception of the product. Next, measure a consumer's willingness to purchase your product based on each individual name.

10. Analysing Your Results
Your analysis of the individual names will include sentiment, as well as critical data about the likelihood of a consumer purchasing your product. Testing product names allows you to remove the speculation from your decision-making process and launch your new product with confidence backed by solid data.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath