Memorable, easy to individualize among competitors, and pleasant as a sound — these are the main criteria we all know a brand name must meet. And you don't have to be a branding expert to realize that. From here to the “Hocus-Pocus Preparatus” there is only one step.
The recipe “hocus-pocus-preparatus” seems quite simple: we are looking for a unique name, easy to remember and pleasant as a sound. Nothing simpler. It all becomes a matter of creativity and inventing as strange words as possible that surprise. We could very easily have a bank service Yazouu or a mineral water Cazoom.
In reality, things aren't that simple, and a naming process doesn't mean inventing words that just sound good. Each name has at least some reasoning behind it, if not an entire strategy carefully constructed with support from the client. Even invented names have come from somewhere and are based on reasoning. For example “Google” went from “googol”, a very large number, equivalent to 10! 100, referring to the large amount of information that the search engine was going to handle.
So, in branding, there are no magic formulas of “hocus-pocus-preparatus”, and creativity does not just happen, but is generated by good strategy insights.