Prior to real estate when I used to run my marketing firm I developed a concept called 'DNA' or 'Distinct Natural Advantages(TM)' of a brand - ie - what makes the product or service so unique that I would choose it over all the others, regardless of price. Part of the process was something I called "The 6 P's of DNA" - Purpose, People, Pain, Promise, Proof, and Packaging.
The last one, 'Packaging', is what we're talking about here...its not just the 'name' but the entire 'story' as Roy mentioned.
In 10 seconds or less, a developer needs to be able to convey to potential buyers why they should invest or purchase at a particular project.
The more the answer to this question is unique and not applicable to other projects, the easier it is to justify value and avoid commoditization (ie - comparisons strictly on price).
For example - Roy mentioned 'INDX'. To say 'in the heart of the financial district with PATH access' is not something 100 other projects can say.
But when the answer is 'great location'...with nothing to back it up...then its not so easy to justify.