LOGOTYPE 101:
TYPES OF LOGOS & THEIR RELATIVE MERITS
Logo in Greek means word. While some logos are indeed based solely on the name of a company, the term has come to have a much broader meaning. There are perhaps seven or more different kinds of logo and some hybrids. The first thing I do with a new client is explain this and compare it to their needs in order to define the field of exploration.
Each of these approaches has advantages and disadvantages. The name alone is immediate and unequivocal - good for new ventures but not really practical if the name is too long. The abstract mark, bold as a flag, easily reduces to small sizes, but takes time to establish. The pictorial mark, perhaps atmospheric and nostalgic, may not reduce well if too intricate. The strongly designed initial is removable for solo use or may be combined with the name, and so on.
Understanding these differences and the unique qualities of a company that distinguish it in the marketplace form the foundation of successful logo design.