Brand name is a name given to a brand to identify and differentiate it from others.
The main purpose of a brand name is
a) To differentiate from other similar brands
b) To authenticate that the products being offered are original
Brand name is to communicate with your customer base. Consumers generally connect with and remember a brand name which is easy and relatable.
The meaning of the brand name does not matter as much as its association with the products that the brand offers.
It is considered that brand names should have phonetic symbolism meaning they sounds of words should convey meaning.
https://www.feedough.com/why-brand-name-choose-a-good-brand-name/ this article talks about choosing a brand name.