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It's a bad brand name because Central or Land or World are meaningless. They add absolutely no value to your story, they mean nothing and they are interchangeable. "Here honey, I bought you these cheap earrings at Diamond World!" Not only are they bland, but you can't even remember one over the other. This is the absolute last refuge of a marketer who has absolutely nothing to say and can't even find the guts to stand for what they do. It's just generic.
The second reason this is an exceedingly dangerous strategy is that if you start to succeed a little bit, you suddenly want to protect your lame name. So you hire a lawyer and start to harass people for using the English language. So Computer Land sued Business Land (or maybe it was the other way around) and lost. Or consider the angry lawyer at Jewelry Village (or was it Central, I can't remember) who sent a letter to Squidoo complaining about an editorial (not a retail) page that used the phrase. There are more than 15,000 matches for this phrase in Google, which means he's got a lot of letters to send, and a lot of people to annoy. For what? Even if he manages to make a lot of noise, he's just reminding the world how generic the phrase is in the first place. Can you name one successful brand (except Pizza Hut and I think they succeeded despite the name) that managed to pull this off? [Yes, there's Central Market and IHOP and Radio Shack... thanks for the submissions. I'm going to argue that in each case, the name slowed down something else that was truly powerful...]
You can do better.
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