You have to use the Desktop Buyer Panel to change names and tag products. Your custom name will be shown on the mobile application after changing it on the Buyer panel.
To start, log in to the Buyer Panel and select the "Suppliers" tab on the left menu.
On the right hand side of the supplier whose product you would like to rename, click on "Actions", then "View market list"
Click on edit on the right of a product you would like to rename
Type in the custom name you would like to use. You can add tags to the product as well to identify them better.
Click on save.
Your custom name should be shown below the product name.
You will now see your renamed product when ordering on the mobile app.