Common naming system:

• The simplest hydroxy derivative of benzene is a phenol. Phenol is the common name as well as an accepted IUPAC name of the compound.
• In the case of substituted phenol compounds, the terms ortho (1,2- disubstituted), meta (1,3-disubstituted) and para (1,4-disubstituted) are often used as prefixes in the common names.

IUPAC naming system:

IUPAC names for some important phenolic compounds are given below