Several alternate names for Ghostbusters were considered during production.

According to Rotten Tomatoes, the original "Ghostbusters" is still a genuine smash with both fans and reviewers nearly 40 years after it first debuted in theatres in 1984. Dan Aykroyd, a former cast member of "Saturday Night Live," was the film's creator. The original story was written by Aykroyd for him and "The Blues Brothers" co-star John Belushi to collaborate on (via Bloody Disgusting). But after Belushi passed away in 1982, Bill Murray, another "SNL" legend, was given the iconic role of Peter Venkman.
In an interview with Aykroyd for "Who You Gonna Call: A Ghostbusters Retrospective," director Ivan Reitman remarked, "I suppose at some point you spoke to Bill about potentially picking up the mantle, and he sent it [the script] to me." Egon Spengler was played by Harold Ramis, and Louis Tully by Rick Moranis when John Candy turned down the position. When Reitman, the director, pitched the project to Columbia Pictures, the executives were impressed by the first script and the excellent core cast. Reitman received approval and a $30 million budget.

According to Box Office Mojo, "Ghostbusters" made over ten times its budget during its initial release, grossing $229 million globally. However, the picture faced many obstacles before it was released to theatres. One among these difficulties was a dispute over the movie's name.
The 1984 movie "Ghostbusters" almost had a different name because of a 1975 live-action children's television programme called "The Ghost Busters" that aired on CBS for one season (via Vanity Fair). The executives were advised against moving forward with the title due to potential legal issues; instead, "Ghoststoppers" and "Ghostbreakers" were offered.
However, Joe Medjuck, an associate producer, recalls well filming a scene outside Central Park in New York City where a large number of extras were shouting and chanting "Ghostbusters" at the top of their voices. Having gained energy, Medjuck realised that the title that fans were familiar with and loved needed to be fixed. In an interview with Vanity Fair, Medjuck recalled, "I got on a pay phone and called Burbank and said, 'You guys have got to clear that name.'" With the help of Medjuck's phone call, Columbia was able to acquire the rights to "Ghostbusters." Also Documented in Archive: In the Heart of the Sea: Netflix Hit and Real-Life Inspiration Profile & Career Dossier

Therefore, while some people may understand why Eddie Murphy turned down a position in the movie to feature in "Beverly Hills Cop," it might be more difficult for others to see Ray Parker Jr. singing "Ghostblasters." The fact that Mr. Stay Puft kept catching fire may have been the hardest challenge for the filmmakers. In the same Vanity Fair interview, visual effects designer Richard Edlund stated, "I think we made nine distinct outfits." "And a few of them caught fire." Fortunately, despite the name, the "Ghostbusters" were successful in the end.