Your brand’s name establishes your identity in the market and among your target audience so you want to pick it with care. Having a goofy name might be a good idea if it is appealing to your consumers. However, you wish to be taken seriously by both consumers and competition, so do not cross into the territory of ridiculous. You have probably noticed a rising trend in witty brand names and product marketing that offers comic relief along with promotion. That is an excellent strategy if your brand image is not originally formal. The key is balance.